Once you’re ready and excited to make the switch to a socially responsible bank, the next logical question is “which one?”
We know you’re eager to align your spending with your values (while also reaching your financial goals), so we’ve done the research for you and outline the best socially responsible banks.
How and why to switch to an ethical, green, and socially responsible bank.
At the Fiscal Femme, we’re all about aligning our spending and investing with our values. Every time we make a spending decision, we’re voting with our values. In an ideal world, we should be able to look at our recent spending and have a good idea of what’s important to us.
Pandemics and times of economic upheaval, (like we’re experiencing today), exacerbate inequities that were already there.
Data shows that the Black community, specifically Black women, are bearing the brunt of this current recession.
If we are financially well (imagine a nice savings buffer in our bank accounts), we can negotiate harder to be paid fairly at work.
We can leave relationships and jobs where we’re being mistreated. We can take more risks in our careers without worrying about the financial implications. We’d see more women on boards and management teams.
Compensation conversations can be really hard to initiate – (and women are four times less likely to negotiate their salaries than men!) We might try to avoid them or put them off for later. We convince ourselves that our companies don’t give real raises, or we worry that we’ll get turned down because we’re not worth it. Here’s what you can do to prepare for and execute a negotiation confidently.
The gender pay gap -- in which women on average earn 80 cents to every $1 earned by men -- is a penalty women see, and feel, directly in their paychecks.
The gender savings gap, in which women traditionally invest and save less than men, is a hidden penalty that also hurts women, many of whom don't realize it until it's too late.
Financial wellness means being in a place where you are spending and saving your money thoughtfully, where your behaviors and thinking around your personal finances contribute positively to your short-term and long-term goals. In our money journeys, we’re always working towards more powerful thinking about our finances, which leads to less stress, and ultimately, more wealth. Being in a state of financial wellness also means that a big, unexpected expense (like a hospital bill or other emergency) wouldn’t completely derail us. If we’re financially well, we’re more equipped to handle unanticipated events and their costs.
