Voting with Your Wallet: How to Align Your Spending with Your Values
In today’s complex world, every purchase I make raises questions about the politics of companies, their treatment of employees, and what they do with my money. My personal finance goals have shifted from simply saving as much as possible to considering the impact of my spending on the world around me.
The Power of Conscious Consumption
My journey began with a focus on saving money by opting for the cheapest options. However, I soon realized that cheaper doesn’t always mean better. Now, I prioritize quality over cost, investing in items that will last longer and planning for recurring bills like renter’s insurance. I also make a conscious effort to support local businesses, especially those owned by women or people of color, and avoid brands that don’t align with my values.
Banking with a Conscience
When it comes to banking, I’ve learned to look beyond just convenience and fees. I consider the impact of my bank’s investments on the environment and society. With institutions like Aspiration, I can rest easy knowing that my deposits aren’t funding fossil-fuel projects, private prisons, or firearm manufacturers. Aspiration’s Spend & Save Account is fossil fuel-free, donates 10% of profits to charities, and offers a sustainability score to track my impact.
Giving Back with Purpose
Charitable donations are another crucial aspect of my budget. I use resources like Charity Navigator to ensure that my donations are going to legitimate organizations that align with my values. Recurring monthly donations may not change the world, but they’re a tangible way to reflect my values in my spending.
Taking Responsibility for Our Financial Choices
While making sustainable choices can be challenging, especially during the pandemic, I recognize the importance of doing my best to manage my money responsibly. With the right tools and knowledge, I can make a positive impact on the world. Aspiration is one such tool, offering a simpler way to save for the future while contributing to a better tomorrow.
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