I’m often asked for simple money-saving tips that can also help families live “greener.”  Well, here are 3 easy tips that could save a family of 4 almost $6,500 a year.

 

- Kill Phantom Loads: many appliances draw energy even when they are off (this is called a "phantom load") and the only way to ensure they aren't drawing energy is to unplug them or buy a device like a Smart Strip (~$35.)  Smart Strips sense when you've turned an electronic device off and cuts the phantom load for you.  Phantom loads can account for as much as 13% of a household energy bill!  According to the Alliance to Save Energy the average American household spends about $1,400 a year on energy bills (which seems low to me.)  So you could save $182+ a year with this simple tip.

 

- Shop local.  One estimate states that the average American meal travels 1,500 miles to get to your table which accounts for a lot of gasoline use and carbon dioxide creation.  When you shop at a farmer's market you are ensuring that your food is coming from a local supplier.  Plus, when you buy from the farmer, you know the person.  They are not a faceless company that you can't hold accountable.  When I get dry apples from my apple farmer, the next week he makes up for it!  Plus, it's MUCH cheaper than buying in a store.  I like to use organic lemons as my benchmark.  At the farmer's market I pay from 25 - 50 cents per lemon (depending on the season.)  At a store they will be anywhere from $1.00 - $1.50 each.  From personal experience, I’ve cut my produce bill by 30-40% by shopping at a farmer’s market.  That’s about $2,080 in savings annually for my household of 2-people.

 

- Go waste free for lunch.  Which is just another way of saying “use a lunchbox!”  A stainless steel water bottle starts at about $15.  A plastic bottle of water costs about $1.  So the stainless steel bottle pays for itself in about 2-weeks.  So in a year you will save yourself at least $235 just with that one change.  Switch to reusable lunch bags, sandwich wrappers and containers and you can save yourself as much as $2.07 per lunch or $517 per person, per year (50-weeks x 5 days a week with $1 water and $1.07 in packaging.)

 

References:

http://moneycentral.msn.com/content/SavingandDebt/P87298.asp

http://ferryplazafarmersmarket.com/sustainable_ag/issues/foodtravel.php

http://www.wastefreelunches.org/