Finding Purpose in Your Money
"If you change the way you look at things, the things you look at change."
These words by the late motivational speaker and author Wayne Dyer speak to every thread in the fabric of life. By shifting our view and approach, we unlock incredible potential to learn and grow. We also untap the possibilities to make a profound impact in the world.
Dyer's words are a beacon when it comes to the subject of money. For centuries, money has been a taboo subject. It has been mired with shame if one has too little; ostentatiousness or guilt if one has too much. The common view on money has traditionally been of one note: Money serves as a purpose to obtain things and build more money. Fortunately, things are changing and reflecting Dyer's words. Purpose and meaning are shining through to every area of life, both in our daily choices and the momentous decisions we make as human beings. And a greater awareness of the good our money is capable of exists.
This reframing is not new. Socially responsible investing has been around for centuries, from Quakers issuing guidelines for what to invest in to microfinance. Today, one in every four dollars under professional management is invested in socially responsible strategies. More than ever before there are growing options of values-based investment choices. For assets held in funds that have been screened for environmental, social, and governance factors there has been a 142 percent rise. Our mindset around money is expanding, as are our opportunities.
Money can be invested to make incredible change. It can be empowered. And while it can take some retraining of old thoughts or habits, realizing that money, investing, and consumer choices can have an impact on the world gives power to the investor herself. For many, knowing there is more to investing gives a tremendous power to take action, set measurable goals, and exceed financial expectations.
Where we place our capital has the potential to yield negative outcomes or positive outcomes—or both. We need to continue to change the way we look at money and shift our main focus to it being a driver of positive social, ethical, and environmental change. Impact investing is simply a reframing of how our money can be utilized to express our desires and intentions for a better society.
We are living in a time when purpose is regularly being integrated into mainstream businesses. This includes companies with an embedded social mission that treat stakeholders well and establish a model for leadership that serves a higher purpose. More than 70 percent of investors believe that corporations with leading sustainability practices are better long-term investments. Furthermore, research has long shown that the key to true happiness is finding meaning in life. It can also bolster our health. One giant step toward this is to act with purpose in all aspects of our lives, including our investments and finances. We do not have to wait until retirement to make a social impact.
Using our capital to address some of the world’s most pressing social concerns can unveil life’s true meaning. As we continue to change our view and unlock the purpose—and potential—in our money, we can positively impact the world and find true meaning in our lives.
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At The Conscious Investor, it is our goal to shed light on topics that we find interesting, inspirational, and educational. Therefore, this article is strictly for inspirational and informational purposes only. It is in no way intended to substitute for professional investment advice, professional financial advice, or general counsel. To the extent that an article features the insight, opinions, or advice of an expert or company, the expressed views are those of the cited person or company and do not necessarily represent The Conscious Investor and its employees or affiliates.