Five green ways to boost your savings

Cutting your carbon footprint won’t just soothe your green conscience – it can also help you to save money. If you’re keen to boost your savings then here are five green ways to go about it.

1. Recycle your rubbish: If your storage space is full of unwanted belongings, then perhaps it’s time to have a clear-out. Instead of hiring a skip, why not sort through your second-hand things and sell them on? Clothes, shoes, electrical appliances, old mobile phones, books and more can all be disposed of online – and you may be surprised at how much that discarded stuff is really worth.

2. Shop second-hand: If you’re making sure that your unused goods are being recycled for a good cause then you can bet that other people are doing the same. It’s greener to shop second-hand, and you should be able to save money that can go directly into your savings account. Look online, at flea markets, at car boot sales and in salvage warehouses for goods instead of buying on the high street.

3. Turn out the lights: The average UK household spends over £1,000 on electricity every year – but it’s possible to halve that amount simply by changing your usage habits. Start switching off lights whenever you leave a room, turn appliances off the standby mode and lower your thermostat by one degree; and you should see the difference in your next electricity bill. Remember to transfer the money you save directly into your savings account.   

4. Save on petrol: Swapping your car for a bicycle on short journeys is a great way to get fit and to save money at the same time. Start cycling to the local shop instead of driving, and get into the habit of walking shorter distances rather than taking the bus or the tube. You’ll be doing your bit for the planet – and your pocket will thank you for it.  

5. Swap providers: One of the best ways to cut your monthly outgoings is to change providers; but before you start cost comparing make sure you take a company’s green credentials into account. Look for insurance companies which offer emissions offsetting, utility companies which use renewable sources and communications companies with good green records. You could also consider swapping to a financial provider such as Santander, which combines great interest rates on savings with a strong environmental policy.

The Green Insurance Directory is a guide to finding cheaper green car insurance, eco-friendly car insurance, environmentally friendly home insurance, eco-friendly pet insurance and green breakdown cover. All material © The Green Insurance Directory unless otherwise stated. We are not responsible for the content of external sites.