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How To Improve Your Relationship With Money


Being good with money isn’t just about knowing the correct information, but having the right attitude. Financial decisions are heavily influenced by unconscious emotional impulses, and sometimes these impulses lead to an unhealthy relationship with money. “If we’re not aware of what the issue is, we cannot change it,” says Dr. Alex Melkumian, a licensed marriage and family therapist and founder of the Financial Psychology Center  

Dr. Bradley Klontz, financial psychologist and a co-founder of the Financial Psychology Institute, has spent years researching unconscious patterns driving financial behavior, which he calls “money scripts.” CNBC Select talked with Klontz and other financial therapists to get their advice on identifying and addressing these behaviors. 

The 4 money scripts 

1. Money avoidance 

2. Money worship 

3. Money status 

4. Money vigilance 

For real change, you can’t just scratch the surface

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Bottom line

The four money scripts are research-backed categories of beliefs about money that tend to shape your financial decisions. You can exhibit tendencies of more than one script and how these mindsets affect your behavior can even be situational. The emotions that drive these behaviors are often unconscious and by identifying the root cause, you can begin to steps to change your situation.

Why trust CNBC Select?

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of personal finance. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

Meet our experts

At CNBC Select, we work with experts who have specialized knowledge and authority based on relevant training and/or experience. For this story, we interviewed:

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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.





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