OK, inspired a bit by the success of Mrs. Micah’s Single Step Personal Finance Challenge, I have one of my own that I’d like to offer out to all readers and bloggers. We’ve all heard of SRI, or “socially responsible investing,” but my guess is that we all have somewhat different ideas about what that entails and whether we would or should be a part of it. You might think that it’s not a good idea to allow “ethics” to cloud your investment decisions, which should be based upon the numbers alone. Or, you might think that it’s enough if you don’t invest in defense companies, or Altria (the new name for Philip Morris, tobacco pusher par excellence). But what about alcohol, fast food, candy, gambling, entertainment — all these other sectors that have their notable downsides? Would you invest in them?

Now I’d like to step back and take a broader look at socially responsible financial moves.

I don’t want to limit it to the sphere of investments. For example, just living a frugal lifestyle can greatly contribute to a more sustainable society by consuming less and producing less waste. Choosing to drive down the coast rather than fly saves a ton on pollution (it might seem like you’re “carpooling” to some extent at 300 passengers per plane, but that plane still produces way more pollution than if all 300 of those people were to get in their cars and drive that distance).

So my challenge is this: what is or has been your most socially responsible (or sustainable, ethical, or “green”) decision in the realm of personal finance? You can take this challenge in as broad terms as you like, but try to identify what decision of yours has produced the most beneficial impact or has the most potential for creating or promoting other goods and consequences.

Is it tithing (giving to charity)?
Volunteering?
Reducing waste?
Living frugally?
Investing in a particular company that is doing a lot of good?
Educating others?
etc.

I’m sure we all engage in some of these activities, but if we can collectively identify which activities have more impact than others, it would be a great learning experience.

For myself, lately I’ve been thinking about what a great company Whole Foods Market (NYSE: WFMI) is. Not just as a business - they’re an excellent business and I own their stock - but as a company. The good they provide, the vision and ethic they work by, and the opportunity for more healthful eating and ethical production that they provide make this the kind of investment that I also want to invest in for my own personal beliefs. You may disagree with me about the store, but that’s ok. And I’ve got my hands in other socially responsible activities too, but this company is on my “front burner” at this time - it’s producing a lot of good for many people and I really get excited about them. They provide a brighter future.

So, I challenge each of you wise souls to take a moment and think about the positive financial decisions you have made or are about to put into action. Comment about them here, talk about it in a post and tag others if you wish. Link back to this article and I’ll be able to keep track of everyone’s contributions. I’ll collectively post them all up here after I get a few in - and I’ll keep adding them as they come in.

I’ll start things off by tagging Mrs. Micah (back at you!), Andy from $aving to Invest and Hank at My Investing Blog. If you can’t think of something, or want to pass, that’s ok - feel free to tag some others, though, and pass it along! I’m looking forward to hearing what everyone thinks!