In many past articles we have explored ways to save money and make every penny go further. But in the current climate, there is a need to do this and think about the environment too, as we all must. We took a look at some ecological money saving ideas.
Free water and energy-saving tools
Reducing water usage can save money for those with water metres, assist the environment, and, most importantly, save energy, because when you use less water, you heat less water. Water companies currently have approximately 600,000 free water-saving pieces of equipment available. What you can get varies depending on where you live; check free water-saving equipment for further information.
In England and Wales, if you don’t have a water metre, you can get one installed for free. Some people can save a lot of money, especially in households with fewer people than bedrooms.
Ecological Money Saving Ideas – Green Saving Bonds
The Chancellor’s new NS&I Green Savings Bond allows you to save anything from £100 to £100,000 towards green initiatives. Although it appears to be a good idea, we’ve learned that it only pays 0.65% a year and that you must put the money down for three years. That’s not a good savings rate.
So, if you’re looking for a way to earn money, the Green Bond is probably not for you. Those with large amounts of long-term savings using NS&I for safety may prefer to use it because the rates are higher than the alternative accounts. If going green is your main priority, the NS&I bond performs admirably.
Ecological Money Saving Ideas – Solar Panels?
The good news is that panel costs have decreased slightly over time, from over £6,000 for a decent-sized 3kW system eight years ago to under £5,000 presently. Plus, with rising energy prices, the value of using your panel’s power rather than paying for it from the grid is growing.
The other benefit of having panels, on the other hand, is rapidly dwindling. The former feed-in-tariff (FIT) plan paid a (at the time, generous) rate for all the electricity you generated, even if you used it yourself, for a period of 20 years from when you started.
The smart export guarantee (SEG) programme has taken its place, in which you are only compensated for the energy you don’t consume and pump back to the grid.
Ecological Money Saving Ideas – Ditch The Paper
Switching to online-only communications can save you money (for example, BT broadband is £3 cheaper per month), and the lowest deals in a variety of areas are frequently online-only.
Don’t Upgrade Working Phones
If your phone is still functional and you’re no longer under contract, don’t upgrade; instead, utilise a comparison site to see what Sim-only package you can obtain to keep it affordable and environmentally friendly.
However, if you’ve upgraded to a newer, younger model, there are compelling environmental reasons to recycle your old mobile phones, as they contain potentially hazardous elements as they degrade.
You could sell the phone on eBay or use one of the dozens of phone-buying services available.
Insulation
If you or someone in your family receives benefits such as universal credit, pension credit, carer’s allowance, or disability living allowance, there are companies that will give free insulation to homes and renters.
Ecological Money Saving Ideas – Consider Smart Meters
A smart metre allows you to track your energy usage down to the minute, allowing you to see where you’re overspending and making it easy to cut back. It also saves you time by automating metre readings.
Walk
In the United Kingdom, the average length of an automobile travel is 8.4 miles. Before you get behind the car, consider whether you could walk, cycle, or take public transportation instead.
Take the 10,000-step-a-day challenge, or if you’re a glutton for punishment like me, walk everywhere. I do it for health, mental health, and obsession rather than to be environmentally conscious, but it helps.
