By Vicki Robin and Jacquiline Blix

We act on our values every day, even when we spend money. When you choose an environmentally sensitive window cleaner, chase a cup of fair trade-certified coffee or refuse to buy a pair of jeans that was sewn in a sweatshop, you’re exercising financial integrity aligning your purchases with our values to support what you most want in life.

In other words, your spending is a way you can invest in the kind of world you want to live in. Use the exercises below to identify what our values are and cultivate the kind of mindfulness needed to achieve financial integrity.

Exercise: To get a handle on values, think about the qualities of life that make kit worth living. We’ve included a list below to get you started. (Feel free to add your own.)

Choose about ten values that reflect the way you’d like to live your life, focusing on what feels right to you, instead of what you “should” value. Try rank ordering them. Is any one more important than another? If you only had six months to live, would these still be your top ten values?

Exercise: A second step in developing financial integrity is to do a “reality check,” looking for a match between your spending and the values you’ve identified. Track your spending and examine a breakout of a week or month’s expenses. For each category of spending, ask values-related questions. For example, if some of your values were wisdom, family integrity and creativity, you might ask yourself: Is this expenditure helping me understand my life as a whole? (Wisdom) Is it enhancing my relationship with my children, spouse, parents, etc.? (Family) Am I being honest about my reasons for spending money on this thing or experience? Do I want to support companies that produce goods in a sweatshop? (Integrity) Is spending money the best way to answer this need? Is there another way to achieve the same result? (Creativity)

Once you’ve asked yourself these questions, consider whether you see any inconsistencies between your spending and your values. What would you do differently?

Exercise: Another exploration is to let your behavior tell you about your values. Again, look at your monthly expenses. Let’s say you spent $200 on restaurant meals. You might conclude this means you value convenience, time with friends, varied ethnic cuisines, or any number of other things that are important to you. But maybe you are sacrificing some values like saving for the future to have the pleasure and convenience of these meals. Are the values served by this purchase what you most want in life? (Often people discover that dreams they feel they can’t afford are well within their reach by trimming a few extras that don’t really add up to supreme delight.).

Exercise: Keep a “Values Journal” in which you record your lists of values and these exercises. Include any random thoughts about spending that occur to you as you go through daily life. These could be anything from feelings around family gifts, to how much to tip the pizza delivery guy, to whether you should pay for your child’s college education. Revisit your journal periodically to see if there are any changes or new thinking.

Checklist: Value Ideas

Originally Published April 2001 in Real Money Newsletter
Reprinted Here with Permission of Co-op America