How Financial Sabotage is Keeping You Broke in Business & How to Overcome It
Welcome to Week 2 of the Recession-proof Your Reality Series. This week we’ll explore how your beliefs impact your financial reality.
Financial sabotage is behavior that prevents you from hitting your financial goals. These behaviors can be linked to deep-seated money scripts.
According to researchers at The Financial Therapy Association “money scripts” are unconscious beliefs that shape our financial behavior.
The most common money scripts that lead to sabotage include beliefs such as:
- More money will make things better.
- Money is bad.
- I don’t deserve money.
- I deserve to spend money.
- There will never be enough money.
- There will always be enough money.
- Money is unimportant.
- Money will give my life meaning.
- It’s not nice or necessary to talk about money.
- If you are good, the universe will supply all your needs.
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They also group these beliefs & behaviors into 4 categories:
1. Money avoidance: Avoiding dealing with money and rejecting personal responsibility for one’s financial health.
2. Money worship: Believing that a financial windfall or increased income will be the solution to all of one’s problems; being focused on the inward value of the accumulation of money.
3. Money status: Being overly concerned with the idea that self-worth equals net worth; believing that money conveys status; wanting to always have the next new, big-ticket item; and being interested in the outward display of one’s wealth to others.
4. Money vigilance: Being watchful, alert, and concerned about one’s finances. Those who are money vigilant are much less likely to avoid their financial matters, overspend, gamble, and engage in financial enabling.
Klontz, Kahler, and Klontz say that the scripts themselves are not “good” or “bad.” Rather, they are simply indicators of behavioral influences.
Check out part 2 of the guide >>>