financial literacy and Money Scripts in the context of financial therapy concepts

Document Type : Original Article

Authors
mahboobeh behfar 1
mohammadhamed Khanmohammadi 2
HAMIDREZA KORDLOUIE 3
1 PH. D student of financial management. Faculty of management and Accounting. Science and Research Branch. Islamic Azad University. Tehran. Iran.
2 Associate Professor. Department of Accounting. Damavand Branch. Islamic Azad University. Damavand. Iran.
3 Associate Professor. Department of Financial Management. Islamshahr Branch. Islamic Azad University. Islamshahr.
10.30495/jik.2025.62289.3651
Abstract
Few contemporary, empirically-based instruments exist to assess attitudes and beliefs about money despite a large research base linking mental health outcomes to financial beliefs. the Klontz Money Script Inventory (KMSI), has been developed to inform mental health practitioners and financial advisors about the money attitudes and beliefs of their clients using an empirically based instrument. It can negatively influence on people`s career and job performance. Financial literacy is one of the variables that seems to affect money scripts. This research seeks to investigate the relationship between financial literacy and money scripts and its construct among Iranians. The research sample selected by available methods includes 385 people of the financial and accounting students and professors of Iranian universities in the first half of 2020. The data collection tools are questionnaire and Structural equations modeling technique in Smart PLS software was used to analyze data. The content and face validity methods and factor analysis were used to confirm the validity of the questionnaire, and its reliability was evaluated using Cronbach's alpha coefficient. The results support that financial literacy have a negative impact on money scripts and their constructs. Finally, the values of fitness indicators showed that the model has a good fit.
Keywords
Financial Therapy
Financial Literacy
Money Scripts

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