7 Simple & Convenient Ways to Save Money and Help the Planet

Most of us are interested in saving money and in building a brighter future, and thankfully, there are many ways to make that change. The best part is, it’s the smallest changes that can often have the biggest impact as you incrementally make improvements over time.

Consider these seven ways to conveniently save more money and help the planet.

If you spend a lot of time in your car, consider setting up carpools. For example, if you have kids, maybe you can organize a group of parents to take turns driving all the neighborhood children to soccer practice or dance class. If you and your neighbor both commute to work in similar locations, you could ride together some or most days. You’ll save money on gas and vehicle wear and tear, and you’ll also reduce the number of cars on the roads.

A programmable thermostat can learn the schedules of your home and adapt to real-time conditions. As a result, you can minimize wasteful heating and cooling, maintain a more consistent temperature, and significantly reduce energy consumption—and your power bills. If you don’t have a programmable thermostat, you can buy one for about $100 and start saving money. The EPA estimates that most households save about $50 per year, and some save up to $200.

When you do grocery shopping, take a few minutes to make a meal plan for the coming week and purchase the items you’ll need. Research shows that Americans save around $12 per meal by opting to cook and eat at home, with the average home meal costing $4.23 versus more than $16 for an average meal at an inexpensive restaurant. By having a plan and ingredients on hand, you can cut costs on last-minute takeout meals. You’ll also reduce the stress of last-minute grocery trips to make dinner.

If you prioritize keeping up with routine car maintenance, you can save money by avoiding costly breakdowns. You’ll also make a positive impact on the environment, as routine car maintenance reduces emissions, improves fuel efficiency, and extends vehicle lifespan, according to the EPA.

Items that are designed for a single use, such as disposable water bottles and plastic grocery bags, can pose environmental and health problems for ecosystems. Instead of using containers that are intended for a landfill, choose reusable containers like refillable soap dispensers and reusable water bottles. As a result, you can help reduce waste and save money by buying fewer containers.

Clipping coupons has long been a valuable way to save money on groceries and household goods. Most consumers using digital coupons (72%) save at least $10 per month, and 5% of those save more than $100 per month, according to Snipp research. Many stores now offer coupons online through their websites or mobile apps, removing the need for paper and scissors. By using digital coupons, you can save trees and access more savings on the go.

When you set up automatic recurring deposits to a high-yield savings account like Growth Savings, you won’t just build up savings faster. You may also avoid spending as much money when your savings are in a separate, designated account.

Having disposable income stashed in a high-yield account may delay making purchases that were made impulsively in the past. Taking time to think carefully before spending the money makes it easier to keep saving and cut back on unnecessary purchases.

Even better, choosing a bank like Forbright that is committed to building a brighter future allows you to make a difference for your own finances while supporting our communities and environment. To learn more about our commitment to responsible banking, visit our Impact page for more information.

Disclaimer: This article is for general information and education only. It should not be considered financial or tax advice.