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Saverist: Eco-Economics
People work hard for their money, but don’t make their money work hard for them. It’s time to fix that. The last Wednesday of every month, Saverist whips your income into shape with smart, practical advice.
Photo by shervin2 from the Torontoist Flickr Pool.
Being green is popular, but can it also help the wallet too? Whether grabbing a cup of coffee, foraging through the laundry, or making popcorn in the microwave for a movie, there are easy steps that can be taken to reduce your footprint and your expenses. Here are some simple ways to cut costs morning, afternoon, and night.
In The Morning
Photo by gbalogh from the Torontoist Flickr Pool.
You love, love, love your coffee. But don’t you hate, hate, hate the paper cups that’s used by Timmy’s, Second Cup, and Starbucks among others? Not only are the cups not recyclable (due to the petroleum-based lining on the inside), but the cups also cost you extra—when you bring your own cup, most coffee shops will shave 10 cents off. A person who buys two cups a coffee a day would save $80 annually. Considering that people were enraged when prices went up by a few cents (correlating with the minimum wage hike), you’d think the use of travel mugs would soar.
If you’re absolutely against using a travel mug, then here’s a radical suggestion: buy your own greener disposable cups. Ecotainers are made with a corn-based lining that allows the cup to be composted and cost around 11 to 15 cents, depending on the size. It allows the portability of a to-go cup and, coupled with the discount you should still get for using your own cup, isn’t a stretch on the wallet.
In The Afternoon
Photo by avp17 from the Torontoist Flickr Pool.
Now that it’s summer, how about using a clothesline to dry clothes? According to Toronto Hydro, using a dryer costs us on average $120 a year. In addition to saving money, there’s the added bonus that your clothes will also last longer when dried on a clothesline. If you’re worried about wrinkles, just give each item a good snap while wet. To stop jeans and towels from getting stiff, give them a good shake to fluff them up. (If you have to use a dryer, why not switch to reusable dryer sheets that reduce waste and cost half the price of disposable ones?) While you’re at it, try washing your clothes in cold water: the small change will score at least another $50 per year in savings.
In The Evening
Photo by rick.
While you’re asleep and at work, plugged-in appliances and electronics continue to use electricity while in standby. According to estimates, standby usage can contribute up to 10% of your electricity bill. For an easy $20 in your pocket (per year), unplug the microwave, which can use 20 watts on standby. Considering how infrequent the microwave is actually used, why not leave it unplugged until you need it? To take it further, unplug your other electronics, such as cordless phones, computer, monitor, printer, television, DVD player, and video game system (holy crap, we have a lot of electronics, no?), to net more savings.
Phew, we’ve just saved almost $200 this time around. That’s a lot of green, no?