Managing finances is not just about counting pennies and making budgets. It’s a lot about the hidden feelings we harbor towards money. Sometimes, these emotions drive us to make unexpected decisions with our finances. Dr. Alex Melkumian emphasizes that to truly excel with money, one must first become aware of these deeply-rooted emotions.
Adding to this, Dr. Bradley Klontz coined the term “money scripts” to describe these emotions. Think of them as mental codes we hold about money, often formed during our younger years.
Here’s a brief look into some of these “money scripts”:
- Money Avoidance: This is where individuals feel a kind of discomfort around accumulating too much wealth, associating wealth with negative traits. To challenge this script, Klontz recommends observing and learning from wealthy individuals who use their resources for positive endeavors.
- Money Worship: For some, money becomes the ultimate metric for happiness and success. They believe more money equals a better life. The twist? Money alone doesn’t ensure happiness. Klontz advises focusing on things that genuinely spark joy rather than their monetary worth.
Eager to dive deeper into these money scripts and see how they might be guiding your decisions? [Explore the full list here.]
