What Are Money Scripts? Money scripts are general beliefs about money that are often unconscious and learned during childhood or early adolescence. Money scripts tend to be passed down through generations. These money beliefs tend to be partial truths about money or those who have (or do not have) money. Money scripts are related to different financial outcomes. Money scripts are often measured in financial planning or coaching to understand how financial beliefs might …
Financial planners and coaches assess client money scripts® with the KMSI-R (Klontz Money Scripts Inventory-Revised) test. Why? There is a continued and increased focus on financial psychology in the financial services world. The CFP Board has recently updated its knowledge topics to include the psychology of financial planning, covering everything from client attitudes to critical life experiences that could shape a financial plan. Financial planners recognize that money personality is a key component impacting …