Introduction to Ethical Finance and Money
The Good Shopping Guide covers a lot of ways on how to spend your money, but what about how to save it? The ethical finance and money section of the site provides you with information that will help you make good choices on where and how to invest.
Choosing a bank that operates ethically
Savers often move their bank accounts to take advantage of the best interest rates, but few of us think of using the same process when it comes to the most ethical banks. With more Britons than ever before living in the red, whether it’s through loans, credit cards or student debt, choosing a bank that operates ethically and transparently and does not encourage unnecessary spending is crucial. The major credit card companies in particular have been accused of irresponsible marketing, and of making large sums of money available to those who cannot necessarily afford the repayments.
Switching bank accounts no longer needs to be a lengthy and complex ordeal, and with internet banks increasing in popularity most of the research can be done at home. In fact, this section does much of the work for you, looking in depth at the most common criticisms levelled at the high street banks, building societies and mortgage lenders.
One of the most widespread contentions is with the banks’ involvement in unethical lending. This can range from investment in questionable corporations to holdings of Third World debt. As well as exposing those brands that still use their money unwisely, this section looks at the companies that are doing the most to promote socially responsible investment.
Amongst these are the funds profiled in the ethical investment section, which finds out how shareholder power can be used to protest against company policies. If the prospect of investing in ethical business seems like a luxury, there are plenty of opportunities to support the charities and associations who campaign on environmental and human rights issues – see the section on charity credit cards. Making the switch to a responsible bank is the first, simple step towards ethical spending.
Below you will find links to the key sections of our ethical research in Finance and Money:
Did you find this research helpful? Please consider donating, and keep this website free.