My Money Scripts

Reading the NY Times article about “Money Beliefs and Financial Behaviors:  Development of the Klotz Money Script Inventory”, a new study on money attitude and habits, I am starting to think that I have financial schizophrenia.  In the study, there are four categories of “money scripts” – money avoidance, money worship, money status, and money vigilance.  Money avoidance is distancing oneself from money, essentially a state of denial.  Money vigilance is a reluctance to spend money at the expense of enjoying it.  The other two scripts – money worship and money status – tie in high self worth to wealth.  Worship is distinguished by overspending to impress others; status by anxiety over net worth.

With my financial bulimia, I feel like I am both money avoidance and money vigilance.  Monday through Friday, I practice money vigilance starting with paying my bills and getting money out for the week which I spend sparingly.  Over the weekend, I’m in money avoidance spending to my heart’s content, or until the cash runs out.  The binge and the purge, or starvation and gluttony.  How can I run both scripts?  Or have I always been avoider, which has led me to being vigilant?  The purpose of the study is to help people deal with financial change, which I am trying to do, albeit, oddly.

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