What is anti-capitalist financial planning?

I call myself an anti-capitalist financial planner and educator. How do I bring my anti-capitalist values when I’m helping a client with their finances?

1) Human-first approach when talking about finance

Always remember that being human is what’s normal and important. Capitalism, and all of the rules of personal finance, were invented by people in order to oppress people and exploit the planet. So the goal of anti-capitalist financial planning is not to “win” capitalism or hoard as much money as possible. The goal of anti-capitalist financial planning is to take care of yourself, your family, and your community as best as you can.

2) Reducing harm in our financial decisions

I don’t think it’s possible to “opt out” of capitalism, or finance, or all of the evils in the world. But we can be intentional about how we engage with the tools of finance. I don’t seek purity or perfection, I seek intentional choices that reduce some harm while taking care of ourselves and our loved ones.

For example: the stock market is a tool that moves money from the working class to the owner class, and I believe it should not exist. But if I want money to help me in my retirement age, I probably have to use the stock market. So I can at least make sure my stock market investments don’t include military weapons manufacturing or private prisons.

3) Using financial stability for mutual aid and solidarity

Financial planning can help increase our capacity for mutual aid and solidarity. I think one of the most anti-capitalist things you can do is mutual aid - choosing to share resources and skills because we know that we need each other. Taking care of your own finances can help you have more financial stability, which often means it’s easier for you to share more with others.

For example: if I have the privilege of a high credit score and a livable amount of income, and my friend is struggling to find a place to live, I could cosign a lease for that friend, which would give them a much higher chance of being accepted by a landlord. By cosigning, I am literally putting my own money and my own credit score on the line for my friend, in solidarity with them. If my friend is ever unable to pay their rent on time, either I help them pay it, or we both could take a hit to our credit scores. But maybe, before that happens, we crowdfund some emergency savings that would help pay the rent if my friend is struggling.

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