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New app tracks the social impact of your spending

New app tracks the social impact of your spending

Article · By Kerry Needs on May 22, 2017

 

Here at Inventshift, we’re all about being a conscious consumer and encouraging you to #votewithyourwallet, so when we heard about the new app that tracks your social spending, we just had to find out more.

Financial startup service Aspiration is a conscious wealth company that are based on giving back. They say ‘ Everyone deserves a financial partner they are confident they can trust. And everyone deserves to put their money in an institution that puts “good” ahead of “greed.”’

Aspiration tracks how companies perform on two main metrics. The first is how they treat their employees and the communities they operate in. The second is how companies treat the planet.

 

 

By using their app, you can encourage companies to do better, and see how you’re making the world a better place. You can pay what you think is fair to Aspiration and they contribute directly to social causes.

The company donates 10% of its revenue to Accion, a large microloan provider. It was founded by co-founded by former Bill Clinton speechwriter Andrei Cherny, and currently has over $200 million in assets.

They explain: ‘Through our “Dimes Worth of Difference” commitment, we donate ten cents of every dollar of our company’s revenue to charitable activities expanding economic opportunity. Working with respected partners such as the Accion U.S. Network, America’s largest provider of micro-loans, we help struggling Americans transform their own lives – not a hand out, but a hand up.’

 

Original news story: https://techcrunch.com/2017/04/26/aspiration-social-impact-of-spending/

Article by:

Kerry Needs
on May 22, 2017

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