Money equals power in our world. Every time we make a decision about where to spend, save, or invest it, we use our financial power to nudge the world in some direction (even if we don’t realize it). Essentially, we “vote with our dollars.” Those “votes” determine what succeeds (and what doesn’t). What succeeds shapes the world, for better or worse (and what doesn’t, doesn’t).

Increasing your financial power and nudging the world in a better direction are not mutually exclusive. You can, in fact, grow your wealth while “voting” for companies and causes that make the kind of impact that you want to see shape the world. The technical term for this is “values-driven personal finance.” But you can always say “using your financial power for good.”

Here are our best tips on how to make the biggest difference with your money — for yourself and others.

What is values-driven personal finance?

On its own, the term “personal finance” refers to how you manage your money to seek to maximize your wealth. Traditionally, the thought was if you’re spending, saving, and investing solely to increase your net worth, then you’re “doing it right.” Even if it means you’re funding ideals and practices you don’t agree with. For example, that company with hot stock might also be polluting the planet. Or the bank that approved you for a slightly higher mortgage loan might also be holding back women and/or people of color.

“Values-based personal finance” means managing your money to seek to maximize your wealth with blinders off. The way you seek to increase your net worth is by actively supporting companies that align with your values and avoiding companies that conflict with them.

In the eyes of more and more women (who are slated to be in charge of the majority of wealth in the US by 2030), values-based personal finance is a win-win. And the extra work — identifying your core values and vetting companies and causes and aligning your spending, saving, and investing accordingly — is worth it.

Why is values-driven personal finance important?

Women are disproportionately affected by issues like gender inequality, racial injustice, and climate change. Simply put, we can’t afford to support companies that make the world worse for us.

What’s more, in a 2023 Ellevest survey, 100% of participants agreed that the financial industry was not made with women in mind. In a 2024 Ellevest Women and Wealth Survey, 94% of participants said they believe that their economic power is being underestimated. Today, money is still the number-one stressor in women’s lives.

But practicing values-based personal finance can help transform that source of stress into a source of strength. When you allow your values to influence how you manage your money, the financial decisions you make can feel easier and more meaningful. From there, your financial confidence can grow. And ultimately, you can start to feel good — not stressed — about your money.

TL;DR: Greater positive impact. Less financial stress. More wealth in your hands.

How can I practice values-driven personal finance?

We break it down into three equally vital areas: intentional spending, intentional saving, and intentional investing.

Intentional spending

Rather than telling yourself what you “can and cannot” spend money on, remind yourself why you’re making certain trade-offs. When you know exactly why you’re doing something — and can easily relate it back to what really matters to you — then you’re spending intentionally, whether it’s a sacrifice or not.

• Research if the companies that own what you spend the most on align with your values — or don’t.
• Ask yourself how your current spending creates meaning in your life — or doesn’t.
• Notice when saying “no” to spending feels as satisfying as saying “yes.”

Next step: Reset your budget.

Intentional saving

Rather than telling yourself you should be saving for generic financial milestones, such as retirement or a down payment on a home, get specific. When you personalize a savings goal — say, a mini-retirement in Italy or owning an A-frame upstate — you’re more likely to set your money aside for it without regrets — and‌ be able to afford that goal in the future.

• Research if your current bank’s lending practices align with your values.
• List your savings goals and why they really matter to you.
• Notice what feelings come up when you imagine putting more money towards savings goals. Do you get annoyed? Worried? Do you feel in control? Secure?

Next step: Adjust the direct deposit amount to your savings account(s).

Intentional investing

Rather than telling yourself you need whatever investment is the most popular right now, take a step back. When you keep tabs on how your money could be used to accelerate positive or negative change in the world, you get to call the shots on what your money is advancing — and feel confident about your part in it all.

• Reflect on whether you’re putting money into an investment account and hoping that it’s “enough” — or if you’re confident in how it’s working to hit your goals.
• Research who and what your current assets are supporting.
• Research if your current financial advisor or planner aligns with your values.