Ask Away...: Here's How to Use Your Money for Good

Tuesday, February 14, 2017

Here's How to Use Your Money for Good

Having money to spare is always a great feeling. No one wants to be living from paycheck to paycheck and only just scraping by. When you do have money, though, you might want to spend it as wisely as possible. Maybe you're thinking about how you can use your disposable income for good. While it's fun to save for a vacation or buy some new clothes, maybe you want to invest in your community or help someone else reach a place where they have money to spare. If you want to do something good with your money, there are a few ways you can spend it to improve the world.

Shop with Independent and Ethical Retailers

Going shopping is one way to spend your money, but how much though do you give to who you shop with? Do you know a lot about the stores you shop in, such as whether the company pays their taxes or supports any charities? While many larger companies do good things with their profits, there are many others that don't. If you want to go shopping but use your money responsibly, you can try shopping with local, independent businesses. You can also look for ethical businesses that support fair trade, conservation, and other causes.

Give to Charity

Giving your money to charity is perhaps one of the more obvious ways of using your money for good. However, it's not quite as simply as just picking a charity at random. You should think carefully about how you want your money to help people, animals, or perhaps the environment or other issues. You have many charities to choose from, including Christian, Islamic and Jewish charities if you want to donate to one with a religious affiliation. You might be interested in where exactly your money will go. You can use resources like Charity Navigator to look up how much they spend on administration costs and other important information.

Spend on Other People

As well as giving to charities, you could also spend your money on people close to you. You might have friends and family you want to treat, or you might want to help them out with something important. However, if you want to give money to anyone, it is best to treat it as a gift and not a loan. It's possible you won't get a loan back, and it could ruin your relationship. Help someone who is in a bind or maybe just surprise someone with a present.

Invest in Yourself

You don't have to spend money on other people to use it for good. Investing in yourself can also be a great idea, and there are many ways to do it. For example, you can spend money on your education. Learning new skills or gaining new knowledge can boost your career or improve your life in other ways. Improving your life can help you to be there for other people more, both regarding money and other types of support you can offer them.

You only need the desire to use your money for good to make it happen. Just give it some thought to come up with some ideas.

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