Reduce waste and save money | Bank of us -->

We all want to do our part to help save the planet – but what if we told you that you could save yourself money at the same time? Although we have been improving in recent times, unfortunately waste is a huge issue in Australia across a large range of areas in our lives – food, paper, energy and water, just to name a few.

So what can you do to lighten the impact on the Earth, and your wallet?

Drink tap water

We all know bottled water is more expensive than tap water, but by just how much? Cool Australia advises that when reviewed drop for drop, bottled water is priced around 2000 times more than tap water. They estimate that the annual cost of drinking 2 litres of tap water a day is $1.50, compared to a total of around $2800 or more per year for plastic bottles. This is even more outrageous when you consider that Healthdirect Australia has determined that in most cases, bottled water does not have any more health benefits than tap water.

You could save: Around $2300 per year.

Plan your meals

Canstar have outlined that the average weekly grocery shop bill in Tasmania is $135 per week. Lack of preparation for many Tasmanians can result in eating out, as in buying sushi for lunch three days in a row. Your daily coffee and muffin breakfast might seem like a small expense but it can really add up if you’re not careful.

You could save: Around $50 per week, depending on your daily spending habits.

Shelf cooking

Shelf cooking refers to shopping for and cooking meals based on ingredients you already have at home in your fridge, pantry and freezer. You decide which ingredients you want to use up and then supplement with fresh ingredients from the store. This helps make your meals more purposeful and therefore reduces the amount of food waste, which is a huge problem in Australia. The Department of Agriculture, Water and the Environment estimates that food waste costs the Australian economy around $20 billion per year – or, in other words, $773 per Australia citizen.

You could save: $773 per year.

Use washable diapers

Did you know that on average children will need 6000 – 7000 nappy changes in their lifetime? Both The Real Nappies and ABC News calculated that swapping from disposable nappies to cloth nappies could save around $4000 per child. But be aware that cloth nappies have a much higher upfront cost, even if they do save you thousands in the long run. As with all parenting decisions, do your own research to see which choice is right for you and your family.

You could save: $4000 per child.

Go digital

Reducing paper usage in your life is fantastic for the environment and it’s an easy way to be part of a global environmental movement. Going digital means different things to different people, which means it can save you money in a variety of ways. Below are some ways to go digital:

  • Read e-books
  • Opt for paperless bills and eStatements
  • Ditch the old fashioned business cards
  • Apply for jobs online where possible
  • Switch to e-signatures
  • Get a digital wallet

You could save: Potentially hundreds of dollars, depending on your personal and professional printing habits.

Keen to get started on switching to digital? Contact Bank of us today to switch to e-statements and read our post ‘7 reasons to use a mobile wallet’ here.

The small, small print: Please note this information is general in nature and does not take into account your personal circumstances or objectives. You should consider this before acting on any of the information contained.