Divesting

Sustainable Minimalists

Bleav + Stephanie Seferian

Kids & Family, Leisure, Parenting, Home & Garden

4.8 • 1.1K Ratings

🗓️ 20 June 2022

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Whenever you add money to your bank account, it doesn't just sit there. Your bank lends your money to industries and projects with the intent of making a profit. Many banks (and all the big name banks in particular) regularly invest OUR money into the fossil fuels industry, thereby funding the continued mining and burning of oil, coal, and gas. To give you a scope of the problem: In 2021 alone, Citigroup, Wells Fargo, Goldman Sachs, and Bank of America spent a combined $137 BILLION on fossil fuel projects. There's a solution, and it's divesting. Intentionally putting your money in places that don't fund the fossil fuels industry is a small lifestyle tweak that will do loads of good for the planet. Today I speak with Certified Financial Planner Gary Grewal about finding the right bank or credit union that's aligned with your values. Here's a preview: [2:30] What banks actually do with your hard-earned money [6:10] The big bank worst offenders [14:30] How to find a better bank [17:30] 3 reasons why you may want to consider your local credit union for your banking needs [24:00] Gary's personal and professional thoughts on Aspiration Resources mentioned: Episode #258: Conscious Spending Financial Fives: The Top 325 Ways To Save, Earn, And Thrive To Retire Before 65 Mighty Deposits Global Alliance for Banking on Values Nerd Wallet As You Sow Banking on Climate Chaos Fossil Fuel Finance Report * Join our (free!) community here. * Find your tribe. Sustainable Minimalists are on Facebook, Instagram + Youtube. * Email me and say hello! MamaMinimalistBoston@gmail.com. Our Sponsors:* Thank you to LifeStraw! https://lifestraw.com/Support this podcast at — https://redcircle.com/sustainable-minimalists/exclusive-content

Transcript

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0:00.0	It has been a summer of self-care over here. I'm talking lots of hikes, lots of beach trips with the
0:06.4	sunscreen of course, you name it, I'm fitting it in before Labor Day. Wherever you're off to this summer, know that you're taking your microbiome with you. And seeds
0:17.3	D.S. 1 daily symbiotic benefits your gut, your skin, your heart in just two capsules a day. Now if you've been around here for a while you know that I pay close attention to what I put in my body I do my d darndest, to avoid synthetic ingredients, and that's why I trust seed.
0:37.0	Support your gut this summer with seeds, DS01, daily symbiotic.
0:41.8	Go to seed.com
0:43.0	sustainable and use code 25 sustainable to get 25%
0:48.0	off your first month.
0:49.0	That's 25% off your first month of seeds, DS01, daily symbiotic at seed.com slash sustainable,
0:58.3	code 25 sustainable.
1:04.0	Well, hello there and welcome back. My name is Stephanie Safarian and you're listening to episode
1:07.0	278 of sustainable minimalists,
1:10.0	a twice-weekly show about intentional and eco-minimalist living.
1:14.1	On today's show, we are discussing the concept of divesting.
1:18.4	Where do you keep your money?
1:20.5	Anytime you leave your hard-earned money sitting in a bank account, it doesn't just sit there.
1:27.0	The bank that's holding it for you, takes it, and reinvest it.
1:31.0	It puts your money to work. The bank lends your money to a variety of
1:35.9	businesses and projects with the goal of making money on interest. Many banks,
1:42.1	especially the big banks. I'm talking
1:44.5	J.P. Morgan Chase. I'm talking City. I'm talking Bank of America. Our
1:49.3	banks, the big banks especially, reinvest our money into the fossil fuels industry.
1:55.2	That means that our money is funding the continued mining and burning of oil, coal, and gas.
	...

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