I am balancing precariously on the intersection of two conflicting intents. The conflicting intents? Saving money so I can retire and saving the planet.
Personal savings intent:
I am 59, and I have a huge mortgage as a result of getting divorced and needing to start again. I don’t want to downsize as I am already in a small villa. I want to retire by 62. I have set myself a goal of saving a little over a third of my net pay for the next four years. This should get the mortgage paid off and means I won’t end up homeless.
I am achieving this through a number of strategies which I set out in my Year of Zero Post. Essentially I’m saving money by:
- Placing an embargo on buying new things and only replacing stuff if it gets broken or wears out.
- Being much more frugal in terms of food, entertainment and lifestyle in general.
Saving the planet intent:
I want to be a more sustainable and ethical buyer. I want to buy from smaller companies, not multinationals. I want to buy local more often and hyper-local wherever possible. I want to buy from people who have bonafide planet-friendly strategies. I want to buy Australian made and Australian owned. I want to buy from those companies whose triple bottom line includes, profit in terms of money, environment and people.
My dilemma? I need new sports socks. The ones I have are disappearing inside my shoes as I run.
Weighing up the options
I can go to the local chain store KMart, and get three pairs of socks for $2. I won’t buy those because I know they won’t last long and are probably synthetic and will end up smelly. I can afford to splash out and get 3 pairs for $12. KMart has an ethical buying commitment. They are establishing a framework to ensure their suppliers’ employees are paid a living wage. Their sustainability policy concentrates on sources of cotton and cocoa, social responsibility and saving energy by installing LED lighting. Their environmental bona fides are not great, but they are working towards it. They’re are thinking about it, but they are not there yet.
On the other hand, I could buy from a company like Boody. Boody is an Australian family company which manufactures underwear and socks from ethically and sustainably sourced bamboo. Their environmental credentials are impressive. The bamboo is grown and treated in China. Some of their products are made in Australia, but from their website, it is hard to tell where the items are actually knitted or stitched together. They employ local people, pay a living wage, and have a close to zero waste production cycle. They give to planet-friendly charities. They tick the environmental boxes but not the manufactured in Australia box.
Given the KMart socks are also not Australian made, this factor can be cancelled out. BUT one pair of bamboo socks will cost me $10! I can get a discount if I buy five pairs. This brings it down to $8.80 a pair.
And here is where I get stuck. This is, I fear is where most people get stuck. Do I spend 400% more buying the eco socks or stash the cash in my own account? What wins? The now or the later? My economic future or the future of the planet? What legacy do I want to leave?
The answer becomes clearer when it’s personalised, and I think about my own family. What impact will my actions have on my offspring? What impact can I have as one person?
The journey has to start somewhere, and this time I am going to give the eco-socks a try. My desire to ensure that this one planet remains liveable and viable for my grandson has won the argument.
DISCLAIMER: I have no connection to Boody. They just came up when I searched Google for ethical and sustainable socks.
Nearly $60 later; the socks arrived, they’re soft and fluffy and good quality. They are labelled “Made in China”. I hope they last!