“Money is the root of all evil” is a common saying and even known as a religious insight. While the deeper philosophical interpretations of such an assertion are best left to more inspired minds, it likely wouldn’t be incorrect to say that money isn’t necessarily good or bad, but can be used for either quite significantly.
As such, those who invest, who intend to put their money to work, or those consumers who are starting to care more about which services they support with their purchase will often consider how and if their money focus can make the world a better place.
This approach cuts to the core of what we feel most appropriate – that of a clear conscience, of voting with our wallet and supporting the initiatives we like to see. Moreover, you don’t have to invest billions in solar power investing for your purchase of a home solar panel to have a positive effect on the renewables market. Every little bit helps.
So, in this post, we seek to empower you by helping you guarantee your money focus makes the world a better place.
Advocating For Sustainability
Of course, the more people pay for sustainable goods, be that fashion, non-toxic cleaners or fish from sustainable farms, the more those practices become the norm. The more these efforts become standardized, the more of a market there is for others to enter the space and revolutionize the field. This means that if you invest correctly or simply support a given trade or business, you’re having an effect.
This may sometimes even be worth paying more for items that you wouldn’t have otherwise. For example, perhaps your local butcher is very careful about the humane, careful treatment of the animals that produce their meat products, helping you to offset the easy, convenient and often unethical meat industry that provides to supermarkets. This shows that even if you have a marginal impact, you have an impact. 100,000 people with your mindset could make all the difference.
Renewables
As we mentioned above, investing in renewable energy sources can be a fantastic method of adding value to your general investment portfolio given how in-demand these sources will become, but they can also help you with your own energy bills. Installing solar panels, biofuel for your commercial enterprise, or simply committing to green initiatives like safely disposing of trash or using biodegradable waste for a home compost pile could make a worthwhile approach.
Renewables are of course the future, with many countries now rededicating themselves to nuclear energy sources, with upcoming governments like the UK planning to set up Great British Energy and other initiatives, and with education in renewable sources reaching more people than ever. The future looks promising, and your investment or support could help kickstart this into further motion.
Sustainable Fashion
Sustainable fashion really does matter, especially in a world where fast fashion has become one of the default purchasing options. Not only is fast fashion lower quality and leads to higher levels of disposable waste, but its questionable production methods, sometimes supporting sweat shops and similar enterprises, is simply not acceptable.
As consumers, we have little control over how items are produced, but that doesn’t mean we have zero say over how our money is put to work. Investing in local fashion stores, looking to transparent brands open about their sourcing methods, and using charities and educational programs to understand the most common culprits of bad practices can be an essential use of your time.
Social Justice Investing
Social justice can cover many topics and not all of them you may find worth your own investment. This is fine. But perhaps you want to support more black-owned businesses, or perhaps stop paying for the services of a company that invests in another you dislike. Maybe you prefer to pay for items in a company that remains clear about its approach to equality, or donates money to mental health charities. Perhaps you’re happy to spend a little more for a better mattress because the company you’ve chosen donates one out of every tenth sale to a homeless shelter.
We tend to think of social justice as a range of different practices designed to pursue every “good outcome” there is, but truly, it’s your money and you get to define what practices are important to you. Maybe to you, social justice means avoiding predatory contracts and allowing a non-contractual subscription instead. After all, offering more value to consumers and not exploiting them is an element of social justice, as we’ve seen with how the US government is suing Adobe for its improper subscription practices.
Supporting a Local Economy & Small Business
For many people, one of the most impactful choices they can make with their money is supporting a local business or investing in the local economy. This is especially true if living in a small town or heading abroad to see the local culture of a wonderful country.
In these areas, less money can have more of an effect, and it also helps you avoid diverting all of your investment into the bank accounts of chain enterprises that care little about supporting the local business scene. Perhaps you even have red lines, such as never giving another cent to Amazon or never purchasing fast food again. These efforts may seem minimal, but they absolutely have a robust impact worth considering.
Investing In Craftsmanship
Sometimes, your purchase can sustain habits that may not be as relevant as they once were. Think of how so many people have become appreciative of vinyl, or handmade clothes and accessories through stores like Etsy.
Your payment and support could potentially help a craft or an art sustain itself over the years, especially as AI development is likely to completely revolutionize how many creative industry job markets are organized, and not always for the better.
With this advice, we believe the creative force behind your buying habits or investment opportunities could make a genuinely positive impact on the markets you manage.
