Psychology Commons^™

The Money Scripts Related To The Use And Trust Of Investment Advice, Travis L. Sholin, Han Na Lim, Miranda Reiter, Efthymia Antonoudi, Meghaan Lurtz

Journal of Financial Therapy

This study examines the association between four money scripts (i.e., money avoidance, money worship, money status, and money vigilance) and the use of investment advice and trust in that advice from a variety of sources (i.e., family and friends, financial software, financial professionals, and one’s own research). Using primary data, we found that money avoidance was negatively associated with trust in professional financial advice. Money worship is positively associated with receiving investment advice from financial software and doing one’s own research. Money status was negatively associated with trusting one's own research. Money vigilance was positively associated with using a financial …