Money Scripts: How Childhood Shapes Your Financial Beliefs

For most people, their relationship with money feels like a collection of habits and gut instincts; how they save, spend, or give. But beneath those behaviors lies something more powerful: deeply embedded beliefs about money, many of which were formed long before adulthood. 

These beliefs are called money scripts, and they silently guide how we approach every financial decision, often without us realizing it. 

Understanding your money script isn’t just a psychological exercise. It’s essential to building a financial plan that aligns with your values, goals, and the future you actually want. 

In this article, we’ll explore: 

• What money scripts are 

• Where they come from 

• Four common money script types 

• How these scripts shape your financial behavior 

• Practical steps to rewrite unhelpful narratives 

What Are Money Scripts? 

Coined by financial psychologist Dr. Brad Klontz, a “money script” is an unconscious belief about money, usually developed in childhood and carried into adulthood. These scripts are shaped by what we observed, heard, or experienced, often during formative moments that had nothing to do with actual dollars. 

For example: 

• A child growing up in a home where parents constantly argued about bills may internalize the belief that money causes conflict. 

• A teen who sees a parent generously helping others might believe that money is meant to be given away freely. 

• Someone raised during a financial crisis might develop a belief that money is scarce and must be protected at all costs. 

These scripts aren’t inherently “good” or “bad," they’re simply interpretations. But when left unexamined, they can lead to unhealthy patterns and unnecessary financial stress. 

Where Do Money Scripts Come From? 

Your early money experiences are more influential than you think. 

As children, we were sponges, watching how our parents handled stress, celebrated wins, or coped with loss. We didn’t have the tools to critically analyze what we saw; we just absorbed it. And those impressions formed the framework for our future money mindset. 

Consider: 

• Did your family talk openly about money, or was it taboo? 

• Was wealth viewed as a blessing, a burden, or a sign of pride? 

• Was generosity celebrated or resented? 

• Did you grow up with abundance or scarcity? 

These environmental cues become emotional blueprints. And unless we intentionally reflect and revise them, they often become our default operating system. 

The Four Core Money Script Types 

Dr. Klontz’s research has identified four broad categories of money scripts. Most people hold a mix, but one or two tend to dominate. 

1. Money Avoidance 

Belief: “Money is bad” or “I don’t deserve money.” 

Money avoiders often feel guilt around wealth or discomfort managing finances. They may undercharge for services, avoid looking at bank statements, or procrastinate on budgeting. 

Common behaviors: 

• Chronic under-earning 

• Difficulty receiving financial help 

• Avoiding conversations about money 

2. Money Worship 

Belief: “More money will solve all my problems.” 

This script drives people to chase money as the ultimate solution. But even as income increases, satisfaction rarely does. It can lead to workaholism, overspending, or neglecting relationships. 

Common behaviors: 

• Overspending to feel better 

• Hoarding wealth 

• Prioritizing money over rest or purpose 

3. Money Status 

Belief: “My self-worth equals my net worth.” 

Money status types associate their value with external financial success. This often comes from childhood messages like “you have to be the best” or “wealth means respect.” 

Common behaviors: 

• Competitive spending 

• Living beyond means 

• Shame around financial loss 

4. Money Vigilance 

Belief: “You must save, be frugal, and avoid financial risk.” 

This script is often rooted in fear of loss or instability. While it promotes good habits like saving and planning, it can also lead to excessive worry, distrust, or an inability to enjoy wealth. 

Common behaviors: 

• Reluctance to spend, even when able 

• Secretiveness around money 

• Over-preparation 

How Money Scripts Shape Your Financial Behavior 

These unconscious beliefs affect nearly every aspect of our financial lives, whether we’re aware of them or not. 

Consider how money scripts can impact: 

• Spending habits: Are you frugal out of wisdom or fear? 

• Saving goals: Do you have a clear purpose or are you just storing for “someday”? 

• Generosity: Are you giving freely, or withholding out of scarcity? 

• Investing: Do you avoid risk because of values or because of old wounds? 

Even relational dynamics are affected: 

• Couples often clash not over numbers, but mismatched money scripts. 

• Business owners may underprice their services due to a script that says “you’re not worth that much.” 

• Parents may avoid teaching their kids about money because they never had that modeled. 

Unless addressed, these scripts can sabotage your financial peace even if you’re doing all the “right” things externally. 

Can You Change Your Money Script? 

Yes, absolutely. But change begins with awareness. 

The goal isn’t to erase every belief from childhood. Some of your scripts may be wise and valuable. The key is identifying which ones serve you and which ones no longer do. 

Here’s how to begin the process: 

Step 1: Identify Your Script 

Reflect on these prompts: 

• What was your earliest memory of money? 

• What messages did you hear growing up? (“Money doesn’t grow on trees” or “We can’t afford that”) 

• How did your family handle financial stress? 

• What emotions come up when you think about money now? 

You may notice recurring themes. Write them down. Ask, “Where did I learn this? Is it true? Is it helpful?” 

Step 2: Examine the Impact 

Ask yourself: 

• How has this belief helped me? 

• How has it limited me? 

• Has it influenced any recent decisions I regret—or feel proud of? 

The goal is not shame—it’s insight. 

Step 3: Reframe the Narrative 

Once you’ve identified unhelpful beliefs, begin rewriting them. 

For example: 

• Replace “There’s never enough” with → “I am learning to manage what I have with wisdom and peace.” 

• Replace “Talking about money causes conflict” with → “Talking about money can bring clarity and connection.” 

This reframing takes time, but it’s powerful. Over time, your mind learns new truths that create healthier behaviors. 

Step 4: Invite Outside Perspective 

Money scripts are deep-rooted. Sometimes we need a guide to help us sort through them with grace and objectivity. 

That’s where a financial advisor who understands behavioral finance can be invaluable. 

At Providence Capital, we integrate values-based planning with emotional awareness. We help you align your money with your mission and gently challenge the beliefs that hold you back. 

You’re not just a spreadsheet to us. You’re a story. And every story deserves clarity, peace, and purpose. 

Step 5: Practice Intentional Financial Habits 

Once you’re aware of your script, create habits that reinforce the new story. 

Examples: 

• If you’re healing from a scarcity script, schedule a small “joy spend” each month to retrain your brain. 

• If you tend to overspend to prove your worth, set intentional giving or saving goals tied to your values. 

• If you avoid money out of fear, block off a “money hour” weekly to review and reflect without judgment. 

With consistency, these new practices become new instincts. 

Final Thoughts: Rewrite the Story 

Your financial life didn’t start with a calculator, it started with a story. 

Maybe that story was one of struggle. Maybe it was shaped by success. But no matter where you began, you’re not stuck with the script you inherited. 

You have the power, and the responsibility, to rewrite it. 

When you identify your money script and intentionally shape it, you’re not just improving your financial future. You’re creating a legacy of freedom, clarity, and alignment for the people who follow you. 

At Providence Capital, we’re here to help you live that story, one decision, one conversation, one new belief at a time. 

Providence Capital LLC is a registered investment adviser.  Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and, unless otherwise stated, are not guaranteed.  Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.