Money Musings 💭 community wisdom 🤩
Last week I decided it was time to buy new workout shoes. My sneakers had seen much (and I mean much) better days.
As part of my consumer activism journey, I’m working to make better choices with my money, so I texted some friends and posted in our Fiscal Femme Slack Community to ask for recommendations for women and BIPOC-owned sneaker brands that had a focus on sustainability.
I got some amazing recommendations and ended up purchasing these from Avre Life. The brand is women and BIPOC-owned and their sneakers are made from recycled ocean plastic. 🤩
It’s very important to note that it’s a tremendous privilege to be able to make choices with a consumer activist lens. Many people can’t choose a more expensive option because the company is making better choices.
Many don’t have time to do this type of research given work and caregiving schedules. If you don't have this privilege, it’s important to take care of your own needs first. It’s also okay to pick and choose where you can be a consumer activist.
I spent a few hours researching shoe brands before making this purchase.
I realized that if we combined our community knowledge and research AND were able to search and reference it, it would make our choices that much easier and more informed.
I created a #consumeractivism channel in the Fiscal Femme Slack community and it’s been a buzz with ideas and suggestions. Come check out the channel and if you’re not yet in the community, you can join us here!
P.S. We have a new complimentary investing guide that I created in partnership with SoFi Invest called What You Need to Know About Investing. I cover investing fees ✅, how to create a diversified portfolio ✅, key investment terms ✅, fund research ✅ and ESG funds ✅. You can download it here. 💰 #ad
P.P.S In case you missed it, we've been featuring some incredible personal finance experts over on the blog. Hear what they have to say here. 🤩
MONEY MOVE OF THE WEEK
CREATE A PLAN FOR GIVING.
The Fiscal Femme community is very passionate about supporting the world they want to see with each purchase and by voting with their dollars. THE BEST. Giving is one of the wonderful ways we can do that.
Giving, a lot like saving (or putting money towards any goal) is something that can get put on the backburner. We wait to do it until there’s money leftover or until we have an overflow of money. Then, we end up waiting and waiting and waiting...
The cool thing is, we don’t have to give a lot to start the practice. Even setting up a small recurring contribution of $5 or $10 to an organization doing work that’s important to us is a great way to flex that muscle and make a difference. That way, when you earn more (it’s obviously coming) and have more to give, you are already a pro and in the practice of giving. You can turn it up from there!
Where are you giving or where do you want to give? I’d love to hear about your favorite organizations. Here are some favorites of people I interviewed for the book.
If you are not in a position to give, that’s okay. Make sure you are taking care of yourself financially, first and foremost. Like they say, put your own oxygen mask on before helping others.
YOU GOTTA SEE THIS
A NEW BOARD DIVERSITY REQUIREMENT.
The U.S. Securities and Exchange Commission approved a proposal from Nasdaq Inc to require its listed companies to have diverse boards - or explain why they don’t. Under the new proposal, companies need to have "two diverse directors, including one who identifies as female and another as an underrepresented minority or LGBTQ+." Companies also have to publicly disclose the diversity of their boards.
Here's the timeline:
Aug. 7, 2023: All Nasdaq-listed companies must have, or explain why they do not have, one diverse director.
Aug. 6, 2025: Companies listed on the Nasdaq Global Select and the Nasdaq Global Market must have, or explain why they do not have, two diverse directors.
Aug. 6, 2026: Companies listed on the Nasdaq Capital Market must have, or explain why they do not have, two diverse directors.