Socially Responsible Investing (SRI) is the investment in companies that promote ethical and socially conscious ideals such as environmental sustainability, justice, corporate ethics and/or advocate against discrimination. This can be accomplished by either specifically including companies that are making positive impacts and/or can exclude others that are making negative or questionable impact.
Many equate saving with investing. Yet the two concepts are not entirely interchangeable, there is a difference between saving and investing. Saving is putting money away that is for later use with little to no risk of loss. While you save in order to invest, you then take on some risk by investing in assets which ideally will increase in value but that doesn’t always occur. Here are some of the key differences to understand.
Pay yourself first
You know the scenario, it’s payday and before you know it bills are paid and you’ve already planned three dinners out with friends. Your budget is wiped out and you did not add to your savings. One of the best methods to ensure that you are hitting your savings goals is to pay yourself first.
Market moves can be choppy at times and downright terrifying. This is one reason many would-be investors never take the leap into investing their savings. We know that in order to make your dollars last, we must take on some risk in order to grow them. Then our rational minds try to determine that perfect moment to begin, which in itself is an impossible task - as we all know that trying to time the market is a fool’s errand. You can avoid the stress of getting together a lump-sum to invest and make saving possible without having to overthink it by utilizing the principle of dollar-cost averaging.