Sustainability is all the rage at the moment. From fashion to food, there are many ways that people are introducing more sustainable practices into their lives, often driven by a younger audience.
But whilst this is great for the planet, is it costing us money? Or is leading a sustainable life actually more beneficial for our bank balance too?
Cars Saving money and being sustainable
By 2035, 100% of new cars sold in Great Britain will be zero emission. But ahead of that law change, many people are already switching to an electric vehicle (EV). But is this a switch that’s prompted by sustainability, cost-cutting, or both?
There’s no doubt that going from an internal combustion engine (ICE) vehicle to an EV is a great shift for the planet. Research suggests that emissions can be as much as 30% lower in a conventional car compared to an electric one.
When it comes to the cost though, you need to consider the short term and the long term. When comparing an electric vehicle with a non-electric vehicle of similar specifications, the electric vehicle will almost always come with a heftier purchase price. Additionally, you will also need to consider the cost of installing an electric charger in your home which will cost you in the between £800 to £1500.
However, electric vehicles are undoubtedly cheaper to run and maintain. For example, filling a car with petrol will cost you 80% more than it would to fully charge an electric counterpart.
Statistics from J.D. Power highlight that over a five-year period, EV owners would save over $8,000 compared to a gasoline vehicle.
Food
In recent times, vegan diets and the demand for plant-based meals have skyrocketed. Between 2014 and 2019, the number of UK vegans quadrupled and in 2024, vegans and vegetarians made up 7% of the UK population.
Those who have not adopted a plant-based lifestyle often cite cost, time, and effort that a vegan diet requires. However, An Oxford University study suggests that this is not the case and that a sustainable diet is actually a cheaper one.
The study found that diets with low amounts of meat or dairy were 14% cheaper than diets heavy in meat content. American research also supports this view, with findings suggesting that a vegan diet can reduce grocery bills by 16%. Given the current cost of living crisis in the UK, a vegan diet could be a great way to reduce grocery costs for families.
Clothing
Sustainable trends have also made their way into the fashion world. Top brands are making major changes to be more sustainable and the emergence of fully sustainable clothing brands supports this view too. The sustainable clothing market is expected to grow by almost 10% by 2032.
Asking if sustainable clothing brands are more expensive is like asking how long is a piece of string. The short answer is it depends on the brands that you are comparing. However, it’s generally accepted that sustainable fashion is more expensive than what’s become known as fast fashion.
However, there are ways to fill your wardrobe with more environmentally-friendly garments whilst also saving money.
In recent years, the rise of thrifting and shopping pre-loved items has been clear. Apps like Vinted and Depop have emerged as rivals to well-known fashion houses and vintage clothes stores have had somewhat of a revival as wearing second-hand clothes has become not only more accepted but on-trend.
Using pre-loved fashion apps can save consumers up to 25% per item.
Home
One of the most common ways to become sustainable is to cut back on energy and water use around the home. It is one of the most common ways for people to try to save money.
Heating our homes during the colder months is one area where people often focus their cost-saving efforts. Reducing heat loss can ensure your home stays warmer, lowering the amount of time your central heating is turned on which is great for both you and the planet.
Areas like lofts and conservatories are often the worst impacted when it comes to heat loss. Insulating your loft can reduce energy bills by over £300 a year while adding a tile roof for a conservatory will ensure it’s cool in the summer and warm in the winter, saving on both heating and air conditioning.
In summary, there are several ways to be more sustainably minded whilst also saving money. Some changes can be tiny while others are more drastic. The points laid out in this article prove that there are ways to save money and the planet simultaneously. Despite this, individual circumstances play a crucial part and, as a result, it’s imperative to carry out your own research around sustainability solutions.
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Author Bio: Toby Patrick is a freelance writer and marketing graduate who enjoys covering a range of topics, often sharing his thoughts on the latest climate and sustainability issues.
Featured image: Green plant photo – Free Plant Image on Unsplash
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