8 Ways to De-Corporatize Your Money

http://www.yesmagazine.org/issues/9-strategies-to-end-corporate-rule/8-ways-to-de-corporatize-your-money


1. Ditch the Cards
All electronic transactions siphon money out of your community to some extent, so try the human approach and bank in person. Pay in cash or, second best, write a check. If you have to use plastic, choose debit. Your local merchants lose some of their profit any time you use a card, but they pay up to seven times more in fees when it’s a credit card. And studies show people spend 12 to 18 percent more when they use cards instead of cash.

2. Move Your Debt
Already broke up with your mega-bank? From credit card balances to car loans to mortgages, mega-banks make far more money off your debt than your savings. Refinance your debt with a credit union or local bank and let your fees support your community. Be wary of “affinity credit cards,” which donate a certain amount per purchase to good-hearted organizations but often are connected with a mega-bank.

3. Spend Deliberately
Forget Internet deals; shop local and independent. Support second-hand markets by buying used, and barter and trade services when you can. Look for goods grown and made nearby.Research your purchases carefully: That organic Dagoba chocolate bar is owned by industry bad-boy Hershey. Want to give money to Coca-Cola? Buy Odwalla juice. Easy company screening at Green America’s Responsible Shopper website.

4. Shorten Loan Lengths
To get as much interest from you as possible, banks offer to stretch out terms. Avoid the 30-year mortgage or the seven-year car loan. If you’re stuck with one, change it yourself: Decide the length of term that’s best for you and pay down your principal. Calculators at sites like ­mtgprofessor.com can be used for any loans, not just mortgages.