6 eco-friendly ways to save money

by | Feb 15, 2023 | Featured Finance, Finance and Business

We’re all looking for ways to reduce our environmental footprint. These steps also help keep more money in your pocket.

More energy-efficient heating, cooling, electricity and water use can add up to savings that help both the planet and household budgets. Check out these six simple tips to help you save money and energy while living greener.

  1. Air-seal and draft-proof top leak spots
    Air leaks force your furnace or air conditioner to work harder, increasing energy use. Seal around door and window frames, electrical outlets and switches, trim and baseboards, fans and vents, ceiling fixtures, fireplace dampers and attic hatches to prevent leaks.
  2. Unplug unused chargers and appliances
    Phone chargers, printers, video game consoles, TVs, coffeemakers and other appliances continue to use energy even when turned off. Unplug them to avoid wasting energy.
  3. Wash laundry in cold water rather than hot
    Up to 90 per cent of the energy used for washing clothes is used to heat water. Wash with cold water to save energy.
  4. Save energy automatically with a smart thermostat
    A smart thermostat learns your schedule then optimizes your heating and cooling to save energy while keeping you comfortable. Many manufacturers offer discounts throughout the year – if you can align your purchase with one of these dates you’ll save even more.
  5. Run the dishwasher instead
    Hand-washing dishes uses more than two gallons of water per minute, while dishwashers typically use between two and eight gallons of water per cycle.
  6. Tap into local programs
    Many electricity and gas providers offer programs to help customers reduce energy use at home. One example in Ontario is the Enbridge Gas Home Winterproofing program, which provides free insulation, draft-proofing and a smart thermostat to eligible homes. Both homeowners and renters can find out if they qualify at enbridgegas.com/winterproofing.

Related Content

5 ways “loud budgeting” could save you money

5 ways “loud budgeting” could save you money

There’s a social media movement gaining traction right now that’s helping people to normalize talking about money. It’s called “loud budgeting” – a financial strategy that puts your money aspirations at the forefront for others to see. The trend encourages people to...

read more
DIY investing 101: How to get started

DIY investing 101: How to get started

Self-directed or do-it-yourself (DIY) investing is an approach where you manage your investments yourself, giving you autonomy and control over what you buy and sell, and when. There are plenty of DIY or self-directed investing platforms on the market, but Canadians...

read more