One of the most exciting developments that I’ve seen in the last couple years is an increase conversation about values and money. I started making value driven financial choices in high school when I decided to boycott an American state. This state, which shall remain nameless, was fighting a political change that I supported. In fact, they were pretty aggressive about not supporting this change. And, I decided that I would never spend my money in that state. In fact, I broke that boycott once because an organization that I belong to held a reunion in a town in that state. While the reunion was wonderful, the people were still sh$tty. I guess some things don’t change. When designing a values driven financial life there are a number of things to consider and in this short episode, I would like to walk you through the process.
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Listen to the Show
Show Notes
- First, decide what your personal values are and how your spending impacts not only yourself for others. I’ll begin by sharing mine.
- I believe in climate change. So, I use a car share program and LOVE IT. Not only does it save me thousands of dollars a year, I have access to a fleet of hybrid vehicles which are earth friendly. I also love that my car share program also operates as a non-profit.
- Shop local-This focus happened when I was younger partly because of a marketing campaign about Always Buying Colorado. This campaign always stuck with me. But, as I got older I also met all of the amazing entrepreneurs running these small businesses in and around my state. I loved buying from them and they truly appreciated my business and support.
- Supporting Black owned businesses-In a previous episode I share how to support Black owned businesses 365 days a year. Now, not only do I do that but I also focus on supporting other POC run companies and allied businesses.
- Earth friendly products-I carry a steel straw with me. No, I don’t walk with it because I don’t want to trip and have it impale me like that poor lady in England. But, I have been systematically changing the products that I use so that they have a longer life cycle and are sustainable.
- Social impact products and services-I love this because these are win win. Here are some examples of social impact products and brands:
- Tom’s shoes-buy a pair, they give a pair
- Muchacha Coffee supporting Latina’s in the entire coffee supply chain. All woman owned
- Patagonia outdoor goods
- Ben and Jerry’s Ice Cream
- Little John Produce Boxes here in Denver-buy locally grown fruits and veggies and donate towards other people in town dealing with food insecurity.
- Greenwood App, Goal Setter App, Native American Bank, One Bank
- In defining your values the goal is to understand what’s important to you. What I care about, you may not.
- Don’t have the idea that living a value driven life has to be all or nothing. In fact, that mindset will guarantee failure in your focus. My goal is to trend at least 50% or more of spending to meet my values’ parameters.
- Be vocal about your beliefs without being judgmental. This is a hard skill to develop. Not everyone is able to do this. But, you’re more likely to get people to respect your process if you’re not a hardass about what other people are doing with their money.
- Technology is your friend during this process. But, be aware of how technology interfaces with businesses. For example: If you’re trying to support local businesses but use GrubHub, understand that GrubHub eats up the restaurant’s profit vs. picking up your purchase or selecting delivery directly from the restaurant.
- Ask questions and quickly do your research. When I go to Whole Foods, Safeway, etc. there are signs that indicate which goods are locally produced. Or, if Im in a fashion boutique I might ask the following question “Where was this made?”
- Spread the word. Referrals are an important part of this process.
- One of the most important areas of focus for me moving forward is being in alignment with my values. Basically, working to be in alignment in all aspects of my life whenever possible.
Let me know if you’ve decided to live a value driven life.
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