If we get into a deep thought we can a lot of causes we can stand up for. The recent incident of George Floyd, where every person in the world stood up in the favour of “Black Lives Matter”.
We at deasilex did a lot of research on the ways to be a socially Conscious consumer and Financial Activist. The points have been listed for you further in the article with the proper explanation to do so.
The ways to do so are Donate to charities, Spend Responsibly, Boycott problematic Brands, Invest in Socially Conscious Business and use community banks.
No matter whether you are in the favour of racial equality, Animal welfare, sexual equality, or any other cause. Follow the steps mentioned below to make a change.
Ways to Be a Socially Conscious Consumer and Financial Activist
Give further is detailed instructions of the steps to be followed for being a Socially Conscious Consumer and Financial Activist.
Donate to Charities
The best way to use your money for a cause of your interest is to donate money or sign a check for the charity that is working for the cause of your interest. In the place of money, you can also gift your stocks to charities.
If the retired persons want to donate the money they can directly transfer their money to charity directly from their IRA to save their taxes. To know more ways to save money for senior citizens click the underlined text. But the amount to be transferred is fixed and those who are willing to donate large amounts to the charities can set up their own charitable trusts.
Do not just donate the funds to the charity make sure about the charity and the foundation you are sending your funds to. Use your internet and visit Charity navigator, to find how the charity spends it.
Making sure that your money is used for the right cause is your responsibility.
We are all fascinated by big brands and spend a lot of our money buying their products. By spending responsibly we mean that have a look at the policies of the brand. Are they sharing the profit with any of the charitable trusts? Who are the shareholders of the company?
Let us get this point clear with an example, We all were with the “Black lives Matter” after the murder of George Floyd. Keeping the scenario in mind, we support racial equality.
Now, before buying anything from a brand. We must make sure that are there any black people in the board of members of the company? If no the company shouldn’t earn from your pocket. Instead, search for the companies that stand for your cause.
Boycott Problematic Brands
The best way to deal with such brands is by boycotting problematic brands. Boycotting practices are followed by many people from around the world.
It has been observed that many companies launch similar products under different brand names. And if we boycott any one product we switch to the other similar product of the different brand but the brand belongs to the same parent company.
The parent company does not get affected monetarily but it makes a negative image of the company in the market.
Brands are converted nowadays about their name value in the market and hence we can pressurize the company to change its policies.
Invest in Socially Conscious Businesses
The best way to support the social-economical backward classes is to buy the shares of the companies that have similar interests as you have.
For example, if you are fighting for racial equality in America, go for buying the shares of the company that has black people as its board members.
If you want to take your community ahead try to buy the shares in the big organizations and become a member. This would take you to the tables of the organization.
Another way is to shop from the local vendors. This would help them earn their living.
Use Community Banks
This point is for those who are concerned about racial inequality. If you wish to financially help the African-Americans who are socially and economically narrated. You should start depositing your money in the banks owned by all black people.
This will help these people grow economically and socially strong.
Use these strategies for financial and social helping. Share these strategies with your friends who are working in NGOs and stay connected with deasilex for more updates.
Featured Image Source: US News Money