So Money with Farnoosh Torabi – Episode 1777: (Encore) Climate Change Under Trump and Smart Ways to Spend, Save and Invest Sustainably
Introduction
In Episode 1777 of So Money with Farnoosh Torabi, award-winning financial strategist Farnoosh Torabi delves into the pressing issue of climate change and explores sustainable financial practices with guest Kara Perez, founder of Bravely Go and author of Green Money. As the world grapples with the implications of a second Trump administration rolling back critical climate policies, Farnoosh and Kara discuss actionable strategies individuals can adopt to make a positive environmental impact through mindful spending, saving, and investing.
Kara Perez’s Background and Motivation
Kara Perez shares her journey of intertwining her passion for sustainability with financial literacy. Reflecting on her childhood fascination with nature and her early struggles with finances, Kara explains how these experiences catalyzed her mission to educate others on sustainable living through a financial lens.
"I was very low income, which is what jump started my interest in personal finance. Being very low income, you know, the most sustainable people in the United States are low income people because they don't have money to overconsume."
— Kara Perez [03:19]
Overcoming Overwhelm in Sustainability
Addressing the common feeling of overwhelm that accompanies the vastness of climate issues, Kara emphasizes the importance of releasing the expectation of perfection in sustainable actions. Both she and Farnoosh agree that incremental changes are valuable and that individuals should focus on what they can control.
"Release yourself from the expectation of perfection, whether that's with your money or with your sustainable actions. Because that's never going to happen. And that's okay."
— Kara Perez [05:53]
Practical Steps for Sustainable Spending, Saving, and Investing
Kara outlines several practical methods for integrating sustainability into everyday financial decisions:
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Aligning Actions with Interests: Kara encourages individuals to identify their passions and find sustainable actions that resonate with them. For example, someone interested in food can volunteer at a community garden to support sustainable agriculture.
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Community Engagement: Emphasizing local actions, Kara suggests initiatives like clothing swaps to reduce fast fashion consumption and foster community connections.
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Investing Ethically: In discussing sustainable investing, Kara illustrates the balance between ethical considerations and financial returns. She acknowledges the challenges in finding perfect companies but advocates for avoiding investments in fossil fuels and supporting businesses that align with one's values.
"Find a value that you really care about. For me, it's environmentalism. And the biggest problem with environmentalism right now is the damage that fossil fuels do to our planet. So I have decided as an individual, I'll take my money out of fossil fuels."
— Kara Perez [13:44]
Eco Anxiety: Definition and Coping Strategies
A significant portion of the discussion centers on eco anxiety—the pervasive anxiety about the future of the planet. Kara defines eco anxiety and offers strategies to manage it:
"Eco anxiety is an anxiety that people feel specifically around the future of the planet or current ecological health on the planet."
— Kara Perez [22:42]
To cope with eco anxiety, Kara advises:
- Curate Information Sources: Focus on reliable and hopeful voices in the environmental movement rather than fear-inducing narratives.
- Engage in Action: Participate in local initiatives or volunteer with organizations working on solutions to climate issues.
- Shift Perspective: Embrace the mantra "think global, act local" to find tangible ways to contribute without feeling paralyzed by the enormity of global problems.
"I do encourage people to think bigger picture and to get involved at the state or federal level or to find an organization, a nonprofit that they can volunteer with that is working on changing that legislation."
— Kara Perez [24:21]
Final Advice and Resources
Kara shares valuable resources and tools to support sustainable living:
- Budgeting Tools: She recommends Empower for personal budgeting, allowing users to track expenses and investments in one place.
- Community Platforms: Buy Nothing groups facilitate the sharing and swapping of goods, reducing the need for new purchases.
- Local Programs: Encouraging listeners to explore city or state initiatives, such as energy audits and recycling programs, to save money and support sustainability.
"Find a way of budgeting that works for you and join your local Buy Nothing and then look to see what your state or city or town is doing that can help you save money and live more sustainably."
— Kara Perez [37:43]
Conclusion
Farnoosh Torabi and Kara Perez conclude the episode by reinforcing the importance of individual actions in the broader fight against climate change. By adopting sustainable financial practices and overcoming eco anxiety, listeners are empowered to make meaningful contributions to environmental preservation while securing their financial futures.
"Your FOMO on purpose... they're using fear as a marketing tactic."
— Kara Perez [33:49]
Notable Quotes
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"I'm not self made... I think like his village or his gym like fundraised for his ticket to the United States."
— Kara Perez [17:22] -
"We live in a complex world and our money systems make our sustainable actions more complex."
— Kara Perez [06:28] -
"Buy once, cry once. It's like, you buy something once, it's expensive, and you're like, oh my God, I can't believe I'm spending $200, $1,000. But then I'm going to use this every day or I'm going to use this for the next two decades."
— Kara Perez [11:05]
Resources Mentioned
- Green Money by Kara Perez: A comprehensive guide on integrating sustainability with financial practices.
- Empower: A free budgeting dashboard for tracking expenses and investments.
- Buy Nothing Project: A community-based platform for sharing and swapping goods.
- Local Government Programs: Including energy audits and recycling incentives.
For more insights and practical advice on sustainable financial practices, listen to So Money with Farnoosh Torabi and explore Kara Perez’s Green Money available through Bravely Go.