Reducing plastic waste doesn’t have to mean spending more money. Many sustainable alternatives to single-use plastics can save you money over time while helping the environment.
Although the initial investment in these reusable alternatives might be higher than that in their disposable counterparts, the long-term savings add up quickly.
Making smart financial choices about sustainability is similar to how we must make wise decisions about our overall financial health.
Pro Tip: If you’ve got at least $100,000 in investments, check out a free service called SmartAsset. You fill out a short questionnaire and instantly get matched with up to three vetted financial advisors in your area.
1. Beeswax food wraps
The cost of plastic wrap and disposable food storage bags accumulates over time. The average American uses 300 single-use plastic bags per year, according to Environment America. That’s an expense of $360 a year for a family of four, in states that have mandated a 10-cent charge per bag at the grocery store.
Beeswax wraps, costing about $15-25 for a starter set, can be used for a year or more with proper care. They create a seal that keeps food fresh, just like their plastic counterparts.
This small household investment provides protection for your food, similar to how homeowners seek protection for their appliances and systems.
Consider a home warranty: Example? First American covers everything from home appliances to heating and cooling. Take a second and see what policies cost and what they cover.
2. Reusable water bottles
The average American spends around $250 per year on bottled water, according to Water Tech. Investing in a quality reusable water bottle for $20-40 can eliminate this recurring expense entirely, paying for itself within just a few months.
Stainless steel bottles are remarkably durable, often lasting years or even decades with proper care, making them an excellent place to put your money to work.
Pro Tip: Earn as much as possible on your emergency savings. For example, SoFi Checking is offering 3.8% interest, plus a potential $300 signup bonus. (May change without notice.)
3. Bulk food shopping
According to World of Vegan, buying pantry staples from bulk bins eliminates packaging waste while halving the cost compared to pre-packaged options for certain items. Beans, lentils, nuts, seeds, and cereals offer particularly big savings.
The initial investment in reusable glass jars or cloth bags for bulk shopping costs around $20-30, but these containers will last for years.
Taking the time to plan ahead for grocery shopping mirrors the careful planning you need to diversify your investments.
Pro Tip: One modern way to diversify is with real estate and venture capital. Companies like Fundrise offer investments as small as $10. Note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on moneytalksnews.com. All opinions are our own.
4. Refillable cleaning products
Household cleaners typically come in plastic spray bottles that get thrown away after use, creating unnecessary waste and expense.
Switching to concentrated cleaning solutions with refillable bottles can reduce plastic waste and costs. Concentrate refills average $2-4 each compared to $4-6 for traditional single-use cleaners.
Minimizing daily expenses is a useful discipline across the board.
Pro Tip: Slash your costs for dining, travel, eyeglasses, prescriptions and more with AARP — Just $15/year with auto-renewal. Join now and save hundreds.
5. Safety razors
Disposable plastic razors and cartridges create significant waste and cost consumers hundreds of dollars annually.
A quality safety razor requires an initial investment of $20-40 but can last decades. Replacement blades cost mere pennies compared to pricey cartridges.
The savings over time are substantial, potentially $100-200 annually per Future, making this a smart financial decision for regular shavers.
Finding the right insurance also can lead to significant yearly savings. Save up to $600 on your car insurance with this car insurance comparison site.
Your sustainable journey
The five swaps outlined here represent just the beginning of how sustainable choices can benefit both your finances and the environment.
Start with one swap that seems most accessible to you, then gradually incorporate others as your budget allows.
Remember that sustainability isn’t about perfection but progress—a philosophy that applies equally well to managing your finances and planning for your future.
Pro Tip: If you have over $150,000 in investments, consider talking to a professional financial advisor. WiserAdvisor is a free service that will match you with a pro in your area.
Add a Comment