Four Tips
to Green
Your
Finances
Arecent poll sponsored by nBCuniversal found that 93 percent of respondents felt a personal obligation to take
care of the environment. installing
solar panels and driving a hybrid might
be green choices, but both could leave
you in the red. Here are four tips for
protecting the planet while having a
positive effect on your bottom line.
INVEST IN THE
ENVIRONMENT.
investing in “green” mutual funds
helps support companies committed to
eco-friendly initiatives, including wind
power, sustainable agriculture and hybrid
technologies, while building your nest
egg. need an extra incentive to consider
green mutual funds? Funds that incorporated environmental, social and governance analysis outperformed traditional
funds, according to one 2010 report.
the terms and conditions, including
interest rates and penalties.
“if the total package looks good,
consider the money going to an environmental cause an excellent bonus,”
he says.
CHARGE FOR A CAUSE.
using a credit card for everyday
purchases such as groceries and gas can
support eco-friendly projects around
the world. environmental charities
such as the nature Conservancy and
the Sierra Club offer affiliate cards—
branded credit cards that allocate a percentage of each purchase to the charity.
Before applying for any credit card,
including an affiliate card that supports
a nonprofit organization, russell Wild,
a certified financial advisor and coauthor of the book, One Year to an Organized Financial Life, suggests checking
GIVE A LITTLE GREEN.
The best way to score a tax write-off and
good karma? Take out your checkbook.
organizations such as the World Wildlife Fund and Greenpeace rely on charitable donations to fund environmental
initiatives.
“look for charities that match your
philanthropic interests and donate to
those organizations,” advises Sandra
miniutti, vice president of Charity
navigator, a nonprofit organization that
provides charity ratings to help donors
make informed giving decisions.
ELIMINATE THE PAPER TRAIL.
ask banks, credit card companies,
utility providers and investment firms
to email bills and statements instead
of sending them through the mail. if all
u.S. households paid their bills online,
it would save 16. 5 million trees per year,
according to a study by Javelin Strategy &
research.
“Banks and credit card companies
make it safe to pay your bills online,”
notes personal finance expert erica Sand-
berg. “if you’re not comfortable sending
financial information over the internet,
pay by phone.”
Paperless billing not only cuts down
on waste but also could improve your
financial security.
“Going paperless can help in the fight
against identity theft,” Sandberg says.
—Jodi Helmer
