You can make your money do good things. Money is always living out our values, whether we think this through consciously or not. The way we earn, spend, save, invest, and gift lets us know what we prioritize. Today I’ll dive into how the values of social justice and environmental care can be lived out in our money relationship.
How do you live out your values in your money decisions?
Social Justice and Interdependence According to two Civil Rights Luminaries
“In a real sense all life is inter-related. All men are caught in an inescapable network of mutuality, tied in a single garment of destiny. Whatever affects one directly, affects all indirectly. I can never be what I ought to be until you are what you ought to be, and you can never be what you ought to be until I am what I ought to be…
This is the inter-related structure of reality.”
― Martin Luther King Jr., Letter from Birmingham Jail: Martin Luther King Jr.’s Letter from Birmingham Jail and the Struggle That Changed a Nation: Library Edition
“If you have come here to help me you are wasting your time, but if you have come because your liberation is bound up with mine, then let us work together.”
― Lilla Watson
Both of these civil rights visionaries see that the goal is liberation for both the oppressed and the oppressor – it’s beyond binaries because we are all deeply connected. Social justice is anything that moves us toward freedom and care for all. This understanding of interconnectedness applies equally to our relationship with the natural world.
Environmental Care and a Focus on Right Relationship with Nature
Nature in its wholeness and power reminds us simply being is enough. Trees are connected by mycelium and care for each other because mutual care helps the whole community continue to exist. As economist Franz Dolp says in Robing Wall Kimmerer’s book, Braiding Sweetgrass – “To love a place is not enough. We must find ways to heal it.”
Micro-Actions towards Integrity
For both of these issues policy change and a systems overhaul of extractive capitalism is needed. And it’s important to remember that we each have power as individuals. I believe that our one individual movement, our one heartfelt conversation, our one micro-action affects the collective.
The status quo is doing what the status quo does: fighting change, creating fear and hopelessness around our individual agency, lifting up a lopsided vision of reality that discounts whatever moves us towards change. And yet… change and hope continues as shown in the following public wins for social justice and environmental care.
For example, the backlash against DEI was resoundingly overturned. According to the article The anti-DEI movement has inadvertently made corporate diversity stronger, “Shareholders unanimously agreed with management [to keep DEI] to the tune of $10 trillion worth of shares as they shot down 24 resolutions attempting to end #DEI with a 98% or 99% vote.”
On the environmental front, I recently learned about the Richmond vs Chevron win last year, detailed in California city’s $550m deal with Chevron could be a national model for environmentalists. Also, The Guardian reports how A silent majority of the world’s people wants stronger climate action. It’s time to wake up. They invite journalists to give voice to this silent majority.
As the great environmental activist and Buddhist teacher Joanna Macy reminds us, “Of all the dangers we face, from climate chaos to nuclear war, none is so great as the deadening of our response.”
How can we Live out our Values in our Money Relationship?
In this following section I’ll share examples of what we can do as individuals to make our money do good and clearly live out our value in how we earn, spend, save, invest and give.
Earnings – Do you work for a company that is creating solutions? Do you serve your community or the environment in a way that makes your heart sing? Do you have what renegade economist and recent guest of my podcast Highly Sensitive Money, Della Duncan, calls a right livelihood garden?
If not, can you take a micro-action towards change? This could be adding your pronouns to your email signature in support of the LGTBQIA+ community, or asking management for a company-wide trash pick up volunteer day.
Spending – Do you use your dollars/pesos/yen to support businesses aligned with your values? Do you prioritize purchasing things that are long lasting rather than ones with built in obsolescence, like fast fashion or cheaply built furniture? Do you try to buy local?
Capitalism calls a lot of the impact it has on society and the environment externalities. As in if license plates are made by unpaid labor in private prisons or fast fashion is made by children in sweat shops, those things don’t impact us, they’re simply externalities.
The lie that our separation from productions tells us is that if we can’t see the harm and don’t experience it in the price, then it’s not real. This puts the onus on us as individuals to willingly pay more for services that don’t harm others and the environment, for example Fair Trade.
Saving – Do you know what your bank is doing with your money? In the US, every dollar we save can be lent out by the bank 9 times because of the Federal Reserve requirement that only 10% of savings stay at the bank. This means that if you bank at one of the so called Dirty Dozen banks that support fossil fuel exploration, then your money is likely being used against your values.
Consider holding your savings at a local credit union or one of the many environmentally focused banks, like Amalgamated Bank, Beneficial Bank, Clean Energy Credit Union, or Climate First Bank.
Invest – Do you know what your money is invested in? Do you invest in your local community? Do you advocate for investment choices that take into account social and environmental well-being?
As an investment manager at Natural Investments (NI) this is a main part of my work. Ratings like Invest Your Values and NI’s own Heart Rating share information on a company’s stance on gender, fossil fuels, private prisons, deforestation and many other measures.
While the majority of us are limited to investing in whatever our employer’s options are, we always have options. For example, you can talk with your employer to increase the offerings they have to options that are more values aligned. If you have any retirement plans with previous employers you can roll those over to an Individual Retirement Account that has values aligned investment options. Feel free to set up a free intro call with me or also check out the resources available through the Earth Quaker Action Team on how to move your money.
Gift – Do you make it a practice to redistribute wealth? Do you focus on providing mutual aid in your community? Do you have the space to add a “Giving” line to your budget, even it it’s only $5 a month?
This is where we are most likely to think our values and money can come together most easily through generous sharing without expectation of return. Years ago I wrote an article on how Being Charitable is One of the Best Uses of Money because the act of committing to give can be truly transformative.
I recently interviewed writer, activist, and YNAB budget coach Miriam Zoila Pérez for the Highly Sensitive Podcast and they share how they’ve committed to give, without investigating why the person or organization is asking, without jeopardizing their own financial health. They decided to give $100 a month and do so when they see houseless people, when a request comes up on their social media feed, or as they see a need. Tune in to the episode next month to hear how this commitment has freed them up to enjoy generosity.
Focus on Sustainable Change and Micro-Actions towards your Values Alignment
Now think back through what we’ve covered and consider what micro-action can you make in each of these areas? Maybe you’ll learn about climate focused banks or you’ll reach out to your investment advisor to ask about updating your investments. Maybe you’ll commit to shopping at your co-op once a month or will increase your charitable giving by $5. Every small step towards integrity and true alignment ripples out in countless ways.
For additional support and help, check out the article Why we need a solidarity economy now from Waging Nonviolence and the podcast Thoughts from the Edge – If the current system is not fit for purpose, what’s our core response? from Accidental Gods.
While we can feel helpless in late stage capitalism, despair robs us of energy. Instead, inch your way towards action, towards love, and towards change. To help you get started, consider what small step you might take in each area:
| Earn | Spend | Save | Invest | Give | |
| Social Justice | |||||
| Environmental Care |
As always, stay within your window of tolerance. For many years I struggled to stay engaged in activism because it felt overwhelming. I’ve now learned that my sensitive nervous system needs rest, nourishment, and accompaniment to be an activist – all of which I’ve gained through my Quaker community and other support networks. Neuroscience and personal experience tells me that change is most likely to become permanent when it’s gradual and has positive reinforcement both personally and from your community. What is it that you need to stay engaged?
In solidarity,
Diana Gisel Yañez Badilla