We banked £23,000 by going green
Amelia Murray meets one woman whose eco-conscious steps slashed her spending on food, energy and travel, saving £23,100
As a nation, we are well aware that what we buy can have a significant impact on the environment and our wallet. And we don’t always make choices that benefit either. But some consumers are realising that caring for our environment can actually help them to save money at the same time.
Most shoppers know that reusable shopping bags are one small way to help both the earth and save money over time.
But since the 5p charge for supermarket carrier bags was introduced in 2015, the “war on plastic” has gathered momentum.
In January the European Union put forward plans for the first Eu-wide strategy to combat plastic waste, including measures to make all plastic packaging in Europe recyclable or reusable by 2030 and phase out single-use plastic, such as coffee cups.
A number of coffee chains in the UK have embraced the campaign and introduced discounts of up to 50pc for customers who bring in reusable cups – which means you can get a Pret filter coffee for just 49p. Starbucks and Costa Coffee will both give 25p discounts if you bring your own cup.
Half of us are “belief-driven buyers”, according to Edelman, the global marketing firm. In practice, that doesn’t necessarily mean putting environmental concerns before budget-conscious choices. In many cases, what is considered good for the planet can also allow you to make significant savings.
‘Embarrassingly materialistic’ to conscious consumer
Tracey Pennington, a programme manager who describes her previous self as “embarrassingly materialistic”, took a number of what may seem like drastic measures to cut costs and become more of a “conscious consumer”. In doing so she believes she spends £23,100 less a year – yet she insists she doesn’t feel deprived.
The first step she took was switching her energy supply from British Gas to Pure Planet, a renewable energy provider.
Mrs Pennington, who lives in a four-bedroom house in a village on the border of Wales and Gloucester with her husband, Laurie, an NHS business consultant, said her British Gas bills for the year used to be as high as £1,700.
Since making the switch to Pure Planet, she thinks she’s saving around £500 a year.
Perhaps more drastic was the decision to stop going abroad.
The Penningtons used to go on two long-haul flights a year to exotic destinations such as Costa Rica, Mexico and Jamaica, where they used to “upgrade on everything” and choose “top-end accommodation”. The most expensive trip they ever went on cost more than £12,000, but on average two trips a year would set the pair back around £6,000.
In addition, the Penningtons would take a number of short-haul trips to Europe, spending a week at a time in places such as Spain and Cyprus, and a handful of weekend city breaks.
Mrs Pennington said it got to the point where they were just going away because they “always had done” and they questioned whether they were actually enjoying it anymore.
She said: “We were spending a lot of money and we weren’t sure if the memories were actually worth it.”
Now, instead of going abroad, the couple go for weekends away in the UK. This has cut their costs by £14,000 a year, Mrs Pennington believes.
Before becoming more conscious of their money, the pair would often go out for dinner in the week to local restaurants, Michelin-starred restaurants on a Saturday night or London for the weekend, where Mrs Pennington said it’s not easy to “eat cheaply”.
Mrs Pennington, who described herself and her husband as “foodies”, said they once spent €600 (£529) at a restaurant, in Florence.
But now by swapping meat and meals out for staying in and hosting their own vegetarian dinners for friends, they save £700 a month, or £8,400 a year.
Mrs Pennington has also stopped buying clothes she doesn’t need and beauty products that are tested on animals or use excess packaging. For example, she buys unpackaged shower gel from Lush, the ethical cosmetics firm, for £9.95. This lasts for up to three months because it’s more concentrated. She estimates she saves £200 a year on cosmetics.
Can being eco-friendly always cut costs?
Renewable energy suppliers, which use natural sources, are currently offering some of the lowest tariffs thanks to “huge investment in green energy generation”, said Claire Osborne from uswitch, the comparison site. Four green providers currently sit in the top 10 deals.
Outfox the Market’s “Zapp! December Tariff ” is the cheapest on the market, costing £807 a year, based on average usage.
The variable tariff uses 100pc renewable electricity and is £329 less than the average price of a standard variable “big six” supplier, which stands at £1,136 a year, according to uswitch.
Usio Energy is the next cheapest, with a variable tariff of £826. Tonik Energy and People’s Energy come in at 4th and 7th place with deals costing £835 and £854 respectively.
Going meat-free, or at least cutting down, could also save you money and reduce your individual contribution to climate change, or your carbon footprint. Vegetarians are believed to have half the carbon footprint of meat eaters.
Rump steak from Sainsbury’s is priced at £12.44 per kg, while chicken breast is £6/kg. A meat substitute, such as Tofu, is £4.01/kg, and Quorn mince is £5.70/kg.
Or you could go without and just eat vegetable-based dishes. You may also be able to cut costs further, and avoid using plastic, by buying loose vegetables instead of pre-packaged.
Moneysavingexpert, the advice site, found loose broccoli to be cheaper than packaged in Sainsbury’s (£1.45/kg vs £2/kg) when it investigated in January. In Morrisons, broccoli was 65pc cheaper loose (55p/kg vs £1.58/kg), but some supermarkets charged more.
Indeed, in some cases, going “green” may actually be more expensive. For example, although local produce doesn’t have to travel as far, cutting “food miles” can be an expensive choice compared with buying fruit and vegetables transported from overseas.
Limiting the number of flights you take will reduce your carbon footprint, but more carbon-efficient long-distance travel, such as trains, can be more expensive than planes.
For example, return flights from London to Edinburgh this week start at around £20 if you go with Ryanair. The cheapest train tickets add up to £72.50 on Loco2, the online booking service. The journey would emit 50.12kg of CO2 by plane, or 7.99kg by train, according to Loco2, which has added a carbon calculator to its booking page.