Money Musings 💭 vote with your dollars 👊
This time of year we tend to make more purchases than usual, which of course can be stressful 😭, but it also gives us a unique opportunity to support businesses with values that align with our own.
Each time we buy something, we’re voting with our money.
With so much happening in the world that feels completely outside of our control, the power to vote with our dollar is more important than ever.
Voting with our money is a form of consumer activism. Consumer activism has been around for centuries and usually comes in the form of boycotts or investing. We recently saw a big decline in SoulCycle attendance after one of the owners held a fundraiser for President Trump.
When we buy things from companies that we believe in - and don’t purchase things from companies we don’t - it’s a form of activism. We can take our money away from businesses that do not support our values and put it in those that do.
We can support women and minority-owned businesses. We can support businesses who put women and women of color in management and on their boards. We can support businesses who practice equality and treat their employees fairly.
And in most cases, all it takes is a bit of extra research to find businesses whose values and missions reflect things we care about. By voting with our wallets, we’re not waiting for these companies to decide to change.
The world needs more businesses like the ones that we align with. I’m sure of that.
I’d love to hear from you. Which businesses are you purchasing products and services from and why?
Money Move of the Week
Look through your credit card and bank statements. This might sound simple to some and tortuous to others, but I can’t tell you how many times I have clients or people in my community (myself included 🙋♀) look at their credit card and bank statements and find 1) incorrect and fraudulent charges, 2) subscriptions they aren’t using (and should cancel), 3) that they forgot to Venmo request money from their friends, or 4) submit for reimbursement for a work expense. The simple act of looking through our statements can save us hundreds of dollars, and it usually only takes a couple of minutes (once you have your login details and know how to navigate the site 😂). If taking a look at each of your statements is cumbersome and too complicated, it might be time to simplify your accounts. Then you can start fresh for the New Year!
You Gotta See This
The Myth of the Mean Girl. Research shows that “one’s sex has little or no bearing on personality, cognition and leadership.” Yet, this idea that women are hostile to other women, especially in the workplace continues to persist. Why? This Harvard Business Review article says workplace gender discrimination is to blame. Specifically, in our workplaces that are dominated by masculine norms, values, and expectations, women face two powerful biases: affinity bias and gender bias. Affinity bias is the preference people have to work with and support people who are like them. Gender bias is the assumption that men are superior to women in leadership, high pressure tasks, and negotiation.