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Going “off-script” can benefit financial planning

A bit of an oxy-moron isn’t it, an unconscious belief? How can one believe something, if one is unconscious? Unfortunately, every single one of us harbor unconscious beliefs about money – they’re called money scripts. According to Klontz, Kahler, and Klontz, money scripts are defined as “typically unconscious beliefs each of us have developed concerning money and life.” These beliefs can be extremely harmful to the way we decide to spend, save, and treat the money we’ve earned.

The depth of the origins, behaviors, identification, and ultimately the ability to overcome each individual money script is far too great to bring to light here, but what we can do is look into each of the four scripts and address how the specific money script you unconsciously believe in, is hurting your ability to save for your future, enjoy the money you’ve earned, or in some cases, both. Financial Psychologist Dr. Brad Klontz and his team of researchers have identified four categories of money scripts. Let’s take a quick dive:

  1. Money Avoidance: Money is bad, rich people are greedy, and I don’t deserve to ever enjoy large sums of money.

These are some of the thoughts and opinions that come along with money avoidance, and as you can understand, plague investors ove