Even if you're not looking to buy stock, let your money talk by supporting stores with solid employee, civic and environmental track records. / Scott Eells / Bloomberg
Ever since the banks imploded and the economy took a nose dive, it has been hard to get excited about putting money anywhere. You don’t trust the stock market and you’re wary of financial advisors. But before you resign yourself to a savings account, consider calling your own shots when it comes to building your own investment portfolio. What if you could buy stock in a company whose business plan actually makes sense to you? What if you could invest in an organization whose mission statement is in line with your values and beliefs?
“When you’re deciding where to invest, it comes down to three factors: purpose, people and values,” says Patricia Aburdene, author of the new book Conscious Money. “You need to have clarity on what the company sees as its mission, how it treats the people who work for it, and what its core values are.” All businesses seek to make money — that’s normal, Aburdene says. It’s the companies that focus on making make a buck at the expense of having a greater purpose that can be dangerousin the long term.
How can you tell whether a company’s values are in line with your own? Do research (does it give back, offer competitive benefits?). Then visit the local chain restaurant or retail store. Ask employees questions and observe the atmosphere.
Even if you’re not looking to buy stock, let your money talk by supporting stores with solid employee, civic and environmental track records. “People are a powerful economic force,” Aburdene says, “if they buy things only from companies they truly believe in.”