You already know my thoughts on money manifestation as a “sure-fire way” to generate money (used alone it’s futile) so this is not that.
But one thing is clear: our psychological beliefs about money can ultimately be the deciding factor of the direction of travel and level of success when it comes to our financial journey. In other words, our Money Scripts are at the heart of all of our financial choices.
In case you are unfamiliar, our Money Scripts are the unconscious, underlying beliefs often inherited in childhood which inform our relationship with money. Based on the research, money scripts are said to fall into one of four categories:
Avoidance – those who feel that money and wealth are negative;
Worship – those who believe that money solves all of their problems;
Status – those who conflate net worth with self worth;
Vigilance – those who have higher than average anxiety about finances – even if they are wealthy.
Can you relate to any of these?
The truth is most of us embody more than one of these scripts at some point in our lives. The key is in being aware of how they impact our ability to manage our money, both positively and perhaps more importantly, negatively, and to identify ways to do something about it. But this requires us to be so in tune with why we do the things we do that we can call ourselves out in the first place.
Do you see what I mean about mind over matter?
But even though our mind might initially tell us otherwise, Money Scripts are opinions or beliefs, NOT facts, which, while deep-rooted, we are absolutely capable of changing.
Here are some steps to get you started:
- Recognise your money scripts. If we want to address our Money Scripts, the first thing to do is to acknowledge them. Research through the four most common Money Scripts and identify yours (remember; you may not fit neatly into any one category and that’s ok). Then think about the financial decisions you make, and how they might be influenced by these beliefs. It might help to write or sketch your process and findings down so you can really drill down into how your money beliefs might be impacting your financial journey.
- Remember you are in control now. Money Scripts tend to become entrenched during our upbringing. When we were children, we weren’t able to control the money situation we found ourselves going through or how it was handled. We simply had to experience or witness it. Yet as adults the power is now firmly in our hands. Although Money Scripts can feel ingrained, reminding ourselves that we are now in control of our financial situations and beliefs empowers us to change things that aren’t working for us.
- Believe you can change. So much is mind over matter and Money Scripts are no different. Beyond recognising that they exist and we are now in control, we also have to genuinely believe that overcoming any unhelpful money mindset is possible. So have faith in your ability to take the wheel, do things differently be willing to commit to making the change. Reflect on other things in your life, financial or otherwise, that you have successfully turned around against the odd to remind you of who you are.