Tara Gentile is the blogger behind ScoutieGirl and the founder of a boutique web design company.

Minding your money
It pays to consider where our money goes once it has left our wallets. What are we really buying?

Mindful spending is not about getting by with less, but about thinking about where your money goes when you purchase something.

Consider this next time you break out the bucks:


Who am I supporting with this money?
The cash you spend goes back into the system created that item or service: the overhead, the equipment, the marketing. At the Red Wing Shoe (http://redwingshoes.com) factory in Minnesota, you can see money spent on boots and sneakers hard at work stitching seams, operating machinery, and providing local jobs.

Will my money benefit my community?
Buying from a local business means that you're partly funding the payroll, sales and property taxes that then enrich your community's schools, libraries, and roads. Buy from local farms and you support the new and thriving alternative food economy, according to FoodRoutes (www.foodroutes.org).

What am I getting out of this purchase?
Sometimes we consume simply because we think we should, without considering the true satisfaction quotient of what we're buying. Higher quality goods may cost more but they have often greater benefits. Repeated studies have shown that money spent on living life, not having stuff, is what makes us happiest.

Tell us about satisfying ways that you spend.

Tara Gentile is the blogger behind ScoutieGirl and the founder of a boutique web design company.

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For love, not money
For years, investment pros looked askance at so-called socially responsible investing options (SRIs).

Sure, investing in green causes was fine for tree-huggers. But nobody with an ounce of financial sense would pick values over... value.

Now that's changing, as a crop of successful green funds has been showing real growth for several years now.

Let's look at one of the leaders: Portfolio 21.

A fund grows on Wall Street
Portfolio 21 is a mutual fund, one that you can check out on Morningstar, using the ticker symbol: PORTX.

Like other funds, PORTX is invested in many different stocks. You can look at the Morningstar snapshot here. The difference is, the fund managers have made an effort to choose companies that reflect the basic principles of responsible investing.

As fund founders and managers Leslie Christian and Carsten Henningsen explain in this recent interview in Green Money Journal, their primary concern was to focus on ecologically sustainable industries.

And as the Morningstar analysis notes, this four-star fund has been pretty successful: "Portfolio 21 has the makings of a fine portfolio centerpiece for socially responsible investors."

Bottom line
As we all decide where to put our money, it's exciting to know that there is a world of investment options beyond the financial behemoths on Wall Street.

Happy Earth Day!
Do you know where your money goes? Share your thoughts on socially responsible investing here.

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More Cash for Clunkers
If you need a new water heater, air conditioner, furnace, fridge or washer-dryer, now could be the time to buy it.

Under the new State Energy Efficient Appliance Rebate Program, many new appliances qualify for government rebates, as long as they're energy-efficient. (Neat program. Too bad it doesn't have a snappy acronym—SEEARP?)

Green for Green
Under the 2008 stimulus package, states got $300 million to spend on rebates. Rebate amounts, and qualifying appliances vary widely by state. Use this Dept. of Energy map to find out the rules in your area.

Act fast! Most programs are limited (e.g. New York's only covers purchases between Feb. 12, 2010 and April 30, 2010) and rebates are typically distributed on a first-come, first-served basis.

Less Taxing, Too
If you already made an energy-efficient home improvement and it doesn't qualify for a state rebate, remember that you may be able to claim a tax deduction.

Of course, as with all government programs, expect some quirks and share your experiences here.

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Wouldn't it be wonderful if you could get a tax break for living a greener life?

As yet, there's no tax credit for composting, buying organic chicken or using CFL lightbulbs. (Darn, those things are expensive!). But some eco-friendly upgrades can yield big rebates on your 2009 return.

Remember, a tax credit is a sweet deal:

It reduces your tax bill, dollar for dollar (i.e. a $2,000 credit knocks down the amount you owe by... $2,000).

• If you made energy-efficient home improvements last year (windows, doors, roofs, water heaters, wood or pellet stoves heating/cooling systems, etc.) you can save up to $1,500.
• If you installed an alternative energy source in your home (wind, solar, etc.), you may qualify for a much bigger tax break: 30% of the cost, with no limit on the amount of the credit.
• If you bought a hybrid vehicle, you may qualify for a tax credit up to $7,500. And that's in addition to the vehicle sales tax deduction.

IRS Warning: Of course, you need to double-check that the products you bought qualify under IRS rules.

Read my piece in yesterday's New York Times: Don’t Overlook the Rewards for Thinking Green.

 

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