Being Greener with your Finances

There are many ways in leading a more planet-conscious lifestyle. From avoiding plastic in your food shop to swapping to a journey on foot instead of driving. However, have you ever considered being greener with your finances? Whether that be who you bank with daily, to where (and how) you spend your money, there are many ways you can use your individual spending powers for good. Below are just a few suggestions:

[cover image: pexels]

Check your banks track record!

Start using banks that aren’t using their money to invest in fossil fuels. There are many big banks that are using their money to fund big projects in coal, oil, and gas. All of which rapidly accelerate the climate crisis. Be smart with where you keep your money, and look into your banks track record and what their portfolio consists of. For example:

  • Banks with a good track record: Monzo, Tred, Starling, Nationwide Building Society and RBS.
  • Banks with a bad track record: HSBC, Barclays, Halifax, Santander and Lloyd’s Bank.

Not sure if your bank is funding fossil fuels? Use this handy tool to find out: bank checker

Make your money go further

You may be familiar with cashback websites, as they’ve grown in popularity exponentially over the past few years. If you aren’t familiar, Cashback websites work by paying you a cash reward when you click through from their website to retailers and buy products/services. It’s a great way to make your money go further.

Topcashback is a favoured site of mine and they have a whole section dedicated to cashback on sustainable brands. They have partnered with over 85 different companies, with ‘Green Cashback’ on offer from Wuka, Kind Bag, Wild deodorant and lots more. You can shop for low-waste products, make a sustainable swap and receive cashback in the process.

Be smarter with your spending power

Ultimately, as consumers, what we buy has an insane amount of power. Take your food shop for example, if everyone stopped using plastic bags for fruit and veg, the demand for the supply of these bags would decrease and thus the supermarkets would stop supplying them. You will have heard the term ‘supply and demand’ – start considering this when you shop and make greener purchases. I can only imagine the good that could be done if we all thought this way with everyday spending!

The information does not constitute financial advice or recommendation and should not be considered as such. The Low Waste Weekly is not regulated by the Financial Conduct Authority (FCA), its authors are not financial advisors and are therefore not authorised to offer financial advice.

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