Editor’s note: This is a transcript of the audio file.
You might want to be a socially conscious consumer who buys products that reflect your values. But does being a socially responsible consumer cost more money? I’m Clark Palmer with your Bankrate.com Personal Finance Minute.
In past years, socially conscious consumers definitely did spend more money. But nowadays, there seems to be a trend toward price parity. In fact, some products that meet a social standard may even cost less.
Still, organic foods often cost more. But if you value the experience, those items may be worth the price.
Being a socially responsible consumer doesn’t always mean that you’re limiting your options at the supermarket or the mall. However, depending on your values, there may be certain products that are simply off-limits. For example, if you’re a vegetarian or vegan, you won’t find any meat products that meet your standards.
Being a socially responsible consumer does involve some research. Still, no matter how many Google searches you do about a product, you may need to make a judgment call. You’ll have to weigh the company’s word against that of its detractors.
For more smart spending tips, visit Bankrate.com. I’m Clark Palmer.