I recently met with a financial therapist recently (yes, there is such a specialty) who forwarded me list of common money scripts from the book Wired for Wealth. Scripts are what we tell ourselves that shape our thoughts and actions and can be foundational in our approach to our lives.
One script in particular struck me: Money Is Unimportant.
I hear it all the time, most commonly from those in helping professions, or creatives, or those who also believe money is the root of all evil and poverty is virtuous. The good news, built into this script is the belief that money itself does not bring happiness. The bad news, this same script is used as an excuse for poor or non-existent money management.
If money were unimportant, it wouldn’t underpin so many of our choices. When money is unimportant, you don’t pay attention to it. If you don’t pay attention to it, it will break down, like a car that you don’t maintain. It can take you a long way just on gas, but eventually, lack of maintenance will lead to much larger problems than scheduling an oil change or tune up.
Money will eventually be important whether you want it to or not. You can wait to see where your money script takes you, or change the story.
On an unrelated but important note, Motley Fool, a site I generally avoid because of it’s irritating over-hyped get rich leads, is going to publish a series of articles on financial professionals. Find out what a fiduciary is!