The Different Types of Money Scripts

Posted by Nailah Herbert in MindsetJuly 26, 2022(Last Updated August 1, 2022)3 min read
Key Takeaways
  • Sometimes, we feel as if we are in a negative financial pattern that hinders us from reaching our money goals.
  • Money scripts can help you understand your relationship with money better
  • There are four types of money scripts that include, money avoidance, money worship, money status, and money vigilance.
Are you ready to make some real money moves?

Sometimes, we feel as if we are in a negative financial pattern that hinders us from reaching our money goals. Unfortunately, many people experience a financial pattern but are unsure what to call it or how to help themselves. One way to understand your financial pattern is by understanding your money script. Money scripts are core beliefs about money that affects our financial behavior. 

Financial psychologist Dr. Brad Klontz created the term, “For most of us, our money scripts are unconscious, but they drive all our financial behaviors. Money scripts are strong predictors of your level of income, your net worth, your financial behaviors, and even your credit card debt.”


money brain

Image Credit: whiteMocca /


Money scripts can also be transgenerational, meaning your money habits can stem from generations of your family’s financial practices. As a result, money scripts can hold you back from living a financially healthy life. Whether through your parents or other adults, the money lessons you were around as a kid are most likely the money habits you will unknowingly imitate as an adult.


The Four Money Script Types


Money Avoidance


Money avoidance occurs when you believe money is the root of all evil. You think that those who solely chase money are greedy. The thought of only caring about money can put you in a negative mood that can affect how you deal with your money. As a result, you are more reluctant to try and take steps to improve your financial situation and become financially independent.


person giving money

Image Credit: Andrey_Popov /


Furthermore, you may begin to think that you don’t deserve money. For example, if someone gives you a financial gift, you may reject it because you feel you don’t “need” it or feel guilty for accepting it. This could negatively affect your financial health and your relationship with money. However, money is a necessary part of life and can improve your overall quality of life.


Money Worship

Money worship is the opposite of money avoidance, as you believe that money is a key factor in life. Money worshippers use their money to buy material items like clothes, cars, and shoes. Money worshippers tend to buy the items they want versus spending money on the things they need like bills, gas money, or groceries.


Money worshippers may fall into the cycle of continuously making compulsive financial decisions. Instead, money should be used to live a comfortable life and should be enjoyed within reason. However, it’s important to use the money for necessities first and then use it for pleasure. 


Recommended Read: How to Stop Impulsing Buying


Money Status

Money status is the idea of equating your self-worth to your net worth. You believe your self-worth and importance are related to how much money you make and what you can show off. For example, if you feel you must have a luxury car with a big house to please other people or have a certain elite status, you may fall into a Money Status script category.


As a result, these groups of people typically overspend on various items to feel better about themselves, which can lead to debt. If you feel you have to buy material items to impress someone or uphold a certain status, you may want to reevaluate your finances, self-confidence, and self-worth. 


Recommended Read: Your Relationship Between Mental Health and Money

Money Vigilance

Money vigilance is when you tend to be frugal with your money. You know where you are financially and know how to pinch pennies. However, too much money vigilance can keep you from reaping the benefits of your hard work and enjoying life. 


person putting money in piggy bank

Image Credit: Africa Studio /


Of course, saving money is a good financial habit, and it will allow you to make important financial moves that will benefit you later in life. However, if you are overly vigilant with your funds, you may bar yourself from enjoying the fruits of your labor.


Recommended Read: 3 Tips To Change Your Money Habits

The Money Wrap-Up

Money scripts are a starting point to help make you aware of negative financial patterns. Money scripts can be changed with hard work, discipline, and patience. Seek help from a financial advisor, licensed financial coach, or therapist. Don’t be afraid to get help so you can have a better relationship with your money. 

 Main Image Credit: Tetiana Yurchenko /

Was this content helpful?
Comments (0)

Sign In to leave a comment.

Download the CapWay App

Access more features to your Money Account

  • Money Goals
  • Request Money
  • Categorize Spending
  • Money Talk

The CapWay, Inc Debit Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.

1. For Money Account holders with a negative balance, the CapWay debit card will go into freeze until funds are deposited to bring account back to current. See terms and conditions

2. Sending or receiving money from other CapWay account holders will be instant. Transfers from other accounts could take up to 48 hours, depending on the financial institution.

3. Early access to funds requires direct deposit. Early payment is not guaranteed and is dependent on the timing of payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

4. Money Goals allows account holders to save money towards financial goals created within the CapWay platform. Funds can be transferred from your Money Account or saved through the rounding up of your transactions from purchases.

5. CapWay offers financial content through Learn Money free of charge, but may include advertisements through affiliates. Phunds, CapWay's literacy program and session, is paid content or co-branded content.

© 2019-2023 CapWay Inc. All Rights Reserved.