Professor Miriam Tatzel, from Empire State College in New York, was able to condense all of the various attitudes and values into two primary characteristics:
When you think about receiving or spending money, what is the first and most common emotion you feel (e.g., fear, thrill, contentment, anger, excitement, shame, envy)?
- If am loose with money that means I am willing, or even eager, to spend. I believe that by spending more, I will get the best.
- If I am tight with money that means I am always reluctant to spend money, and any large outlays of money need to be thoroughly justified.
- If I am high in materialism that means that I derive particular pleasure from material things that improve my quality of life.
- If I am low in materialism that means that I view material things, like beds and cars, as relatively neutral tools, and delight more in experiences that improve my quality of life.
When combining these two characteristics of looseness and materialism, Professor Tatzel was able to map four possible “money worlds” for people:
What is your money world?
Adapted from Klontz, 2016, Facilitating Financial Health:
Money Script = unconscious beliefs concerning how money interacts with life.
- Usually formed during childhood.
- Often generational
- Beliefs that are formed for survival and protection in an uncertain world.
- Usually incomplete for adult living as a Christian
- These beliefs are incredibly resistant to change
- Half-truths that hurt your ability to make and follow-through with your financial plans.
TOP MONEY SCRIPTS
More money will make things better.
After poverty, more money simply provides more options. More contentment, peace, love, joy ALWAYS makes things better.
FULL TRUTH: Psalm 34:10. Heb. 13:5. Eccl. 5:10-12. James 1:4.
Money is bad & Jesus hates it
While money is dangerous, we are meant to faithfully manage it as stewards who are growing in spiritual maturity.
FULL TRUTH: Luke 16:10-13.
I don’t deserve money
Our stewardship of God’s money is for a greater purpose than ourselves. Our only pre-requisite for this duty is to be made in God’s image.
FULL TRUTH: Isaiah 58:7-12. Matthew 25: 31-40.
There will never be enough money
True: laws of scarcity. Greater truth: abundance of God’s Kingdom and His providential nature.
FULL TRUTH: 2 Corinthians 9:6-9. Psalm 16:5-6. Gen 22:14.
There will always be enough money
We are meant to participate in our provisions with hard work and a striving to grow in our skills amidst God’s rich promises.
FULL TRUTH: Proverbs 6:6-11. Proverbs 31. 1 Timothy 5:8.
I will become more spiritual by being poor
We are not meant to trade places with the poor. Money does not make someone more/less spiritual (it’s love of money).
FULL TRUTH: Proverbs 30:8-9. 1 Timothy 6:10.
It’s not appropriate to talk about money
Very dangerous money script – keeps everything hidden and in secret. Must shine a light bright on finances in community.
FULL TRUTH: 2,350 verses in Bible discuss money and possessions. 2nd most discussed topic (8% of the Bible).
Money Personality Video
Money Personality Quiz
Quiz 2: https://empower.me/quiz/
Do you agree or disagree with results? Discuss results with partner.
Money Disorder Quiz
Were there any behaviors where you scored 3 or higher? List them and discuss with partner.
Identify Potential Conflicts
Combinations that often lead to conflict:
- Misers married to Overspenders (Non-spenders married to Big Spenders).
- Micro-managers married to Avoidants who view money as something to avoid.
- “More money will make things better” script with an Experiencer Money World.
Do you see any potential for conflict given your results?