Three Ways to Spend Money and Change the Economy

I thought it might be nice to follow up my last post about not spending money in order to avoid economic disaster with a post on how we might better spend money. Here are a few tips on how we might spend money in a way that will change the economy for the best.

Make at least 50% of expenditures go to living things. Take a look at this chart. Spending half of our money on living things wouldn’t be easy for most Americans. But it sure would change the economy from one that makes, collects, and discards plastic junk, to an economy that helps life thrive.

Make at least 5% of expenditures go to making something of value for the economy. Small business. Craft that you can give as gifts or sell for gifts. Service to your community like tutoring or some kind of consulting or advising. Photography. A helpful blog. A garden to feed family and friends. This idea might sound crazy, but it’s totally doable and rewarding. It would revolutionize our economy if each of us were mini-producers of goods or services.

Make at least 5% of expenditures go to helping those less fortunate than yourself. Study after study, as well as the testimony of countless people, demonstrates that giving financially to help the less fortunate is both empowering for the giver and the beneficiary. Be a person who experiences the joy of giving. And be a person who helps another human overcome difficult circumstances.

These are just a few tips. If there’s a theme running through them, it’s that you and I absolutely can choose how we’ll spend our money. Instead of being unsustainable consumers of things, we can structure our lives so that we’re benefactors of a better world. It’s an enormous privilege. Take advantage of this opportunity!