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4 Eco-Friendly Ways to Save Money

CIMB ❘ 20 Apr 2020

2 min(s) read

Hey There,

Climate targets, sustainable strategies and clean energy roadmaps – these are positive changes that corporations and nations are embracing. However, individuals can champion environmental goals too. A common misconception is being “eco-friendly” is an expensive exercise. It’s quite the opposite! Here are four simple ways to conserve the environment and your own expenses at the same time.

Forgo single-use outfits

Going for a beach holiday and thinking of buying that trendy top from this season’s summer collection? And it’s on sale? Tempting for sure, but blink and it’ll no longer be in style, and that’s when it will join the ever-growing mountain of single-purpose, single-use items you’ve accumulated with every mega sale at the back of your closet.

So what can you do? One great way is to embrace the “buy less, buy better” ethos. Invest in quality timeless wardrobe staples, and learn the art of mix-and-match to keep your look fresh at all times. Doing this saves the environment by reducing overall waste, and saves you money because you don’t have to keep shopping for every occasion!

Trim your energy use

The heating and cooling appliances makes up about 47% of energy consumption in your household. While you can’t control your utility rates, you can lower your usage by cutting back on air conditioning. Also, for every degree you raise you’ll save 3% on electricity bill*. In our weather, a temperature setting of 24 °C is ideal for maximum energy efficiency.

The dryer is another energy hungry appliance to watch out. The fact that we live in sunny Singapore means we should take every opportunity to dry our laundry outdoors. Even when it’s not possible, hanging garments on a clothes rack inside, placed in the breeziest room proves just as effective.

Making this adjustment could potentially save you 20% of your energy consumption, ultimately reducing your utility bills just as much!

Reduce your carbon emission

Try walking to your favourite coffee-joint or supermarket instead of taking a taxi the next time you head out. It reduces your carbon emission and allows you to squeeze in a short workout!

B-Y-O Mug

Globally, billions of takeaway coffee cups are thrown away every year, and due to their complicated production process, the vast majority of coffee cups do not end up being recycled**.

You can help reduce this wastage by bringing your own mug or tumbler when you visit your favorite café for coffee or even bubble tea. Some cafés offer small incentives for their customers to do so – try asking your barista the next time you visit!

Yours Truly,

Octo.

Important Notes & Disclaimer

Sources:

*https://www.consumerreports.org/central-air-conditioners/best-setting-for-central-air-conditioning/

**https://www.ft.com/content/edddb47c-0b22-11e8-839d-41ca06376bf2

This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy amongst Singaporeans. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions that will improve everyone’s well-being. This in turn, achieves CIMB’s purpose of advancing customers and society.