Wallet Activism with Tanja Hester
These are challenging and stressful times we’re living in. With the recent decisions by the Supreme Court, I know many of you are feeling like you don’t have a voice or you’re frustrated by what’s happening around you and you’re not quite sure what to do about it. Well if you’re feeling like this now might be the perfect time to read the latest book from my guest today, Tanja Hester. Tanja is an author and activist and was previously on the show to promote her book Work Optional, about her journey to financial independence. Today she is here to talk about her new book Wallet Activism: How to Use Every Dollar You Spend, Earn, and Save as a Force for Change
What are we drinking?
Tanja - Water
Shannon - Black Cherry Schweppes
Podcast Notes
The last time Tanja was on the podcast, she had just written her first book Work Optional. Chatting with her friends is one of Shannon’s favorite aspects of podcasting and she’s excited to catch up with Tanja today.
Wallet Activism is very different from Tanja’s first book. Now more than ever, people are interested in making sure their money is going into the right places and pockets. This book is about how to make good decisions in a complicated economy. We all work hard for our money and want our financial habits to align with what is important to us.
The desire to live in better alignment with her values was a huge aspect of working towards financial independence. The book comes from her heart and was born from her own questions, looking around at the world and seeing how our money is funding the problems
Wallet Activism is about where our money lives, where we live, what we do for work, and where we give. It’s so much more than just where you shop and invest your money.
In a perfect world, we would all do everything all the time, but it is not realistic. The answer isn’t easy, if it was, the world would be fixed. Everyone has to make choices out of necessity, but there is so much you can do with a focus on impact. Not just what makes you feel better, but what is also good for the world.
Often, people desire to be more of an activist with their money, but may not have a lot to work with. Focus on what you can, and there’s no judgment for doing what you need to do.
Wallet activism is personal. For example, someone with climate change as their priority will have different spending habits than someone hoping to address the racial wealth gap.
In the early chapters, Tanja lays out her money manifesto. In the last few years, there has been more awareness brought to various causes, which is fantastic, but it can be hard to know where to start. The book helps you determine what is important to you. This is the starting point of the decision-making process, so you aren’t paralyzed when it comes to taking action.
Tanja lays out the two main ways change can be made: by creating and shrinking demand.
Creating demand is about spending money on the things that are good, positive, and that you want to see more of. You are creating the world you want to live in by spending and creating the demand.
Shrinking demand works by withholding or refusing to spend money in certain areas or refusing to be part of a transaction.
This step is personal to you and once your values are in place, the best thing to do is automate money decisions. The goal is NOT perfection. Start with what you can do right now, and work from there. The book helps bring awareness, be more conscious of your choices, and ask thoughtful questions about your money.
Corporations don’t want us to feel powerful, they want us to feel like our choices don’t matter. While individual action must be paired with policy change, we must recognize the power we do have so we can align our values and focus on what’s important to us.
There is a lot of greenwashing out there, especially around financial services and products. ‘Impact Fund’ or ‘ESG’ does not automatically mean it’s aligned with your values. These terms are not regulated. You have to take the extra step and time to pull back the curtains to see what’s truly there.
Cryptocurrency is an easy example for Tanja, as she does not have ambitious feelings about the topic. There’s a huge environmental impact to investing in cryptocurrency. Tanja has written extensive blog posts about it, which go into detail:
The emissions associated with Bitcoin alone are unforgivable. Mining just one cryptocurrency uses more electricity than whole countries. Even if the energy needed could be generated by renewable sources, is that a good use of that energy?
When you start doing the research, it forces you to pause and think about your choices. Where is your money going and does it align with your values?
Shannon asks Tanja to share what a day of her work optional life looks like:
She wakes up without an alarm clock and starts the day with a leisurely coffee in the greenhouse. She enjoys learning and is always taking classes. Sometimes she’ll have friends over, or watch a movie. She enjoys cooking dinner from scratch, starting early in the day, and really taking her time.
She’s been able to spend the last few years focusing on her health and safety over money. It’s been such a gift, especially because she and her husband are immunocompromised.
There’s no way she could have written Wallet Activism if she was working. The power of being able to choose has been such a gift, and what financial independence is all about.
Wallet Activism is Tajna’s passion project and she hopes enough people buy it to let publishers know there’s a market for these kinds of books. It’s all about doing the best with the choices available at the moment. Give yourself grace and remember, the goal is progress and not perfection. You can purchase Wallet Activism at all the usual book places, but Tanja recommends your local bookstore! If there isn’t one in your area, places like bookshop.org are a great option!
Takeaway: My biggest takeaway is when you’re feeling powerless, think about how you’re spending your money and who you’re giving your power to. Even when you feel hopeless, you always have power through your spending.
Random Three Questions
If you were given $10,000 to go on vacation, where would you go?
You’ve written your second book, what subject would you like to tackle next?
If this was your last meal on earth, what would it be?
Connect with Tanja Hester
Website: ournextlife.com
Instagram: @our_nextlife
Purchase Wallet Activism
Blog posts about Crypto:
Listen to Tanja’s last MYAM Appearance: Work Optional with Tanja Hester Purchase Work Optional
If you have any topics you would like me to cover on this podcast, or if you’d like to get in the financially naked hot seat, I encourage you to email me at Shannon@fingyms.com, or join the private Martinis and Your Money Facebook group, and let me know what you want to hear.
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