| |
| |
|
Personal Finance Information |
|
|
|
The World is Not Enough - Calling for a More Ethical Approach to Personal Finance
At a time when the entire world's attention is focused on the problems of world debt, with the Live 8 concerts, the G8 summit in Scotland, the Make Poverty History Campaign (MPH) and the various anti-poverty marches, it seems that everyone wants the world's governments to behave more ethically towards the manner in which international finance is conducted. This is obviously a laudable attitude to take, and has gained immense momentum with such a groundswell of public opinion that even the UK Chancellor, Gordon Brown, has stated he is planning to participate in the Make Poverty History demonstration in Edinburgh during the G8 summit. Mr Brown has urged world leaders to follow up their decision on debt cancellation for the poorest countries with a doubling of aid and fairer trade rules. The Chancellor said, "This is a day for the people not for politicians. It is the people's voice that must be heard." Whilst the support from such a prominent member of the British cabinet with his accompanying statements that the world was "angry" and "outraged" over the poverty in Africa, which has continued despite repeated past pledges from the richer nations, has been welcomed by many who believe that the various organised events could have an influence on the leaders who attended the summit, others see his words as hypocrisy. Human rights lawyer, Aamar Anwar, said "Mr Brown, along with Tony Blair and George Bush, are the people who are responsible for poverty and starvation around the world?The G8 is proposing spending Ł30bn on the alleviation of poverty?It sounds like a lot but it is absolute peanuts when it is compared to the Ł280bn that was made available for the war in Iraq." The trouble is that although there has been much talking and finger pointing at the rich and powerful Governments of the world, with claims that the way they are running international finances does not stand up to moral scrutiny, how many people can genuinely look at their own finances and state that they themselves are doing everything they can to help, and that they are ethically above reproach? Does their bank or building society lend their savings to companies who are involved in activities that can range from weapons manufacturing, gambling, pornography, tobacco, scientific animal testing to child labour, or do they instead direct their investment towards activities which have a positive social and/or ecological impact? Most people do not think about where their money is being invested, when they pay into a mortgage, pension or savings account, they just think about the return they will get on their money. This does appear to be changing however. Following consultation with its members, the Co-operative Insurance Society, which has more than Ł20 billion of funds under management, has become the first insurer to launch an ethical engagement policy and said it would lobby businesses at every opportunity to improve their ethical performances. The Co-op already tries to ensure ethical compliance by making new business customers fill out an Ethical Policies questionnaire, which is assessed by the bank before agreeing to provide business services. Financial comparison sites such as Moneynet are now releasing guides providing information on ethical investment covering all aspects of personal finance from bank accounts, investments and pensions to choices of domestic energy providers. Other organisations such as the Ethical Investment Research Service have been set up to provide information into companies' ethical behaviour for independent investors, fund managers and charities alike. The world is gradually waking up to the idea that responsibility needs to be taken for our actions, whether those actions are at the global, national or individual level. Lobbying of politicians and the interest that has been engendered by the Live 8, and MPH campaigns can help to make a change, but these need to be continued beyond the present media furore if we are to make a real change. An ethically responsible nation is only possible if we also make changes on our own doorstep. Until we really get our personal finance into perspective, the MPH becomes just another fashion label. Richard works in Edinburgh for Bigmouthmedia, occasionally writing for the personal finance blog Cashzilla, and drinking too much coffee. Additional References:
MORE RESOURCES:
CARZ4GIRLZ: 5 Basic Financial Mistakes Most Youth Make When Buying ... - Autochannel (press release)
Personal-Finance - Google News |
|
|
|
RELATED ARTICLES
Benefits of Personal Finance Software In this age of information, keeping track of your finances does not mean an archaic jumble of ledgers, calculators, and papers filled with calculations in chicken scratch. Now everything can be taken care of on your computer through personal finance software. Budgeting is Bothersome It doesn't take much for you to get behind on monthly bills, but it sure takes some time to catch up. The comparison in my mind is to weight gain. College Expenses: Seven Ways to Save on an Education Many people graduate from college owing thousands of dollars in student loans. It isn't uncommon for students to graduate owing $30,000 to $40,000. Save Money Off Your Home Utility Bills Many don't realize that our basic utility bills provide the perfect money saving opportunity for practically every household!Especially with today's energy crisis so prevalent throughout many of the states, you've probably heard this term - conservation.Guess what, conservation really means "using less". More Money? My Cup Runneth Over...But Im Still Thirsty Most of us, especially those of us who have debtor's disease (if you have it you know what it is!), have commented or at least thought, "If I could just win the lottery, or sweepstakes, everything would be better." Unfortunately, even if that big dream did come true things probably would get worse instead of better. How To Get Ahead On A Low Income Do you struggle from week to week trying to make ends meet? Are you consistently going without things that you really wish you could afford? Well I have some possible and practical solutions to your dilemma:1. TIPS TO HELP YOUR BUDGET STRETCH FURTHER. Bankruptcy Laws Get Tougher - More Expensive If you've been thinking about filing for bankruptcy, your best bet might be to file now.A new bankruptcy law takes effect in November that will make it harder and more expensive for most families to file for bankruptcy and discharge their debts. Estate Planning Basics You have probably accomplished a great deal with your life. Over the years you have worked, planned and saved. How Check 21 Affects You The Check 21 Law is the new federal law for financial institutions and has taken effect last October 28, 2004.Before the Check 21 law was enacted, your paper check had to be physically transported from where the check was paid out before it could be deposited to the financial institution. 7 Simple Ways To Save Money Each of us knows how to spend money, but do we really know how to save our money? No, I am not necessarily talking about setting aside funds for an investments purposes - a good thing - but saving money on everyday items. Here are seven simple ways you can save money:1. Improve Your Professional Image Using Address Labels One of the simplest ways to improve your professional image is by using address labels. Self-adhesive business labels are THE way to go when it comes to a professional image. Succession Planning Have you ever thought about what you are going to leave your children when you pass from this earth? Wouldn't it be a great feeling to be able to give them a really good head start in life - without actually spoiling them?It really doesn't matter how old you are, it's something that you need to be thinking about and planning for now. In the process of planning your inheritance and blessing your children, you are really making YOUR life better and more financially secure because you'll enjoy these benefits before you pass them on. Budgeting -- The Critical Flaw That Causes Most Budgets to Fail Budgeting. It's a word we're all familiar with. The Good and the Bad of Money Management Good money management needn't be difficult. In fact, there a number of easy steps recommended by most financial professionals to help manage your finances better. The Joys of Address Labels Address labels are many things to many different people. If you are a huge fan of address labels, you aren't alone. Is There A Retirement Crisis? When people speak about the increasing age expectancies, they generally do so with positive connotation. This author agrees-there's nothing wrong with living longer, especially if we can sustain our quality of life at each period throughout our lifespan. Personal Loans For Homeowners - One Of The Numerous Rewards For Being A Homeowner You no longer look at the pictures of homes cause you yourself bought one. Well, you know how you got that, it was a huge investment. Risky Business: You May Not be as Daring as You Think I thought I was through with exams when I finished college. Then my financial adviser (a. Saving Money - Are You Doing Enough? It is estimated that we, as consumers, waste an average of 30% of our paychecks on items we don't need or pay way too much for the items we buy. Since 1990, spending is up 30% and debt is up an astounding 80%. When do You Need a Financial Management Company on Your Side? We live in a crazy world. Someone ought to sell tickets.
|
| home | site map |
| © 2006 |
