Go green to save £1400
If protecting the planet isn’t enough to convince you to go green, we show you how you could save £1400 with environmentally friendly finance.
The financial benefits of helping the environment came into the limelight this week with the Clean Energy Cash Back scheme – which pays customers for generating renewable electricity.
Under the scheme, a household using a solar energy system could benefit from £830 a year. However, if generating your own energy doesn’t appeal to you, we rounded up five other environmentally responsible ways to boost your bank balance.
Watch out for waste
When it comes to food, many of us throw a sizeable amount of our weekly shop in the bin. All this uneaten food represents a huge waste of energy, transportation and packaging.
When you’re in the supermarket, remember to check use-by dates and try to avoid cooking more than you can eat.
What this means for your wallet: The Love Food Hate Waste campaign estimates wasted food costs the average family with children £680 a year. What’s more, ending this food wastage would be equivalent to taking one in four cars off the road.
Go online
If you are currently on your energy provider’s standard tariff, it’s unlikely you are getting the best deal on your bills.
Most energy companies offer an online alternative that is better for the planet – and less expensive. This is because agreeing to switch off your paper bills will save the company huge amounts in postal costs.
With most online customers paying monthly by direct debit, your energy company is more likely to get its payment each month.
What this means for your wallet: Switching to an online tariff could save £300 per year.
Efficient energy
Most of us could significantly reduce our energy bills by paying more attention to our gas and electricity usage.
Simple steps such as switching to energy efficient light bulbs and turning the thermostat down by one degree could make a massive difference over a year.
What this means for your wallet: The Energy Saving Trust estimates that turning down the thermostat could save you approximately £55 a year, while switching light bulbs could save around £65.
Greener homes
Adding draught excluders to your windows and loft insulation are two of the most effective ways to make your home more energy efficient and cut the amount you pay for utilities.
Remember, it’s always a good idea to seek professional advice before making major changes to your home.
What this means for your wallet: According to Sainsbury’s, loft insulation could save as much as £100 per year on heating bills.
Embrace your inner farmer
If you enjoy spending time in the allotment, you could cut your grocery bill by growing your own fruit and veg.
According to B&Q’s Good Life survey, 26 per cent of people grow their own fruit and vegetables – many of these are doing so in an attempt to save money.
What this means for your wallet: Three quarters of people could save around £200 a year.
**This material is for information purposes only and should not be considered financial advice. We strongly encourage our readers not to rely solely on this content, but to seek independent advice when making financial decisions.**
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