Feature Photo by energepic.com
I talk about sustainability a lot, from the food you eat to the face creams you use; from the water bottles you drink from, to the bag you travel with and even the t-shirt you wear. I’ll never get tired of saying this: Sustainability is crucial for reducing our environmental impact.
But that’s not the only aspect of our daily lives that should be sustainable. Another aspect that we all need to closely keep an eye on for us to remain sustainable, is the financial aspect of our lives. So, for once, I’m bringing you an article that isn’t so much focused on the environment as much as it is about us humans and how we should lead our lives in order to live them at their best.
THE IMPORTANCE OF FINANCIAL SUSTAINABILITY
Building a secure financial future is important to sustain ourselves and our families in the long run. Sustainable personal finance is about having enough financial resources for all aspects of our daily lives and it’s not just about budgeting – although that makes up for a huge part – but spans across saving, investing, learning, and so much more. In today’s article, I wanted to bring you some helpful resources so that we can all explore more financial options and finally make informed decisions when it comes to handling our money.
Last month, I wrote an article about financial sustainability and lots of you have come back to me asking for more tips and resources so that you can learn, grow and save sustainably through life, for yourselves and your families. In last month’s article, I broke down exactly what you need to do in order to start living a sustainable economic life. This week, I’m bringing more and more resources to get this done and the right way!
Related – What About Financial Sustainability?
HOW CAN YOU BE FINANCIALLY SUSTAINABLE?
As I previously mentioned, financial sustainability isn’t just about budgeting – but also about how you spend your money. To tie in the concept of environmental responsibility and sustainability – although hard to believe – there are ways you can save money at home while doing good for the planet too.
In fact, your home can actively contribute to sustainability by ensuring that expenses on bills and household appliances prioritise eco-friendly options, which can also lead to long-term savings.
Consider choosing a green energy provider like Octopus Energy, offering 100% renewable electricity and holding a ‘B Corporation’ status for a genuine positive impact. Simple changes like switching to LED lights, using washable rags instead of kitchen rolls, or opting for beeswax wraps over cling film can make a significant difference. Even investing in solar panels is another eco-conscious choice if feasible, allowing your home to reflect your values as a responsible consumer. There are so many home improvements you can make that will save you money in the long run, it’s incredible! In case you missed it, I recently published an article about this.
While household changes are essential, there is so much more we can do to save money and it’s all simple changes and habits we need to instil in our daily lives that are just not that hard. From coupons to government grants, utilising cost-saving discounts could significantly impact your household budget.
Given the increasing expenses of household bills, cutting unnecessary costs is crucial. Fortunately, there are various grants and discounts that are accessible to assist us in managing our finances – provided we know where to find them.
Household Support
For example, did you know the government introduced a support package last year to assist vulnerable households? This initiative involved a £650 Cost of Living payment for individuals on benefits and a £300 Cost of Living payment for pensioners. You can check out your eligibility here.
Electricity Bill Discounts
With energy costs on the rise, there is some relief available. If you have a low income, you might qualify for a £150 discount on your electricity bill through the Warm Home Discount Scheme. You can contact your energy provider for further details – British Gas, EDF, E.On Next, OVO Energy, Octopus and ScottishPower are the providers that offer assistance with the cost of living. But drop a comment below if you know of any more!
Energy Enhancements
In an expansion of the Energy Company Obligation (ECO) scheme, the government is offering over 400,000 households energy efficiency upgrades like loft or wall insulation. The initiative commenced in spring 2023, with all companies serving over 150,000 customers required to participate. If you’re interested in knowing more details about this, just reach out to your supplier directly and they should be able to direct you from there.
Supermarket Deals
Major supermarkets frequently offer freebies and competitions, though some may require a bit of searching. For instance, Sainsbury’s provides a Freebies and Competitions section on its website, allowing you to add certain items to your basket for free or automatically enter competitions by purchasing specific products.
Look out for deals like kids-go-free or discounts, such as Morrisons’ and Tesco’s ongoing promotion offering a free kids’ meal for each adult meal over £4.99 bought in its cafes. Additionally, Iceland gives individuals aged 60 or older a 10% discount on their total purchase every Tuesday, and also has a lot of discount codes and offers going online – I usually keep track of these on Money Super Expert’s website, another wonderful resource if you’re looking to save money!
Eating For Less
If you are at least 10 weeks pregnant or have a child under four years old and are receiving specific benefits, you may qualify for a Healthy Start card too, so extra help. This card allows you to purchase specific types of milk, infant formula, fruits, and vegetables. In terms of savings, the Healthy Start Card helps you save the below:
- £4.25 per week starting from the 10th week of pregnancy
- £8.50 per week for children aged from birth to one year
- £4.25 per week for children aged between one and four, along with free vitamins
Plus, Sainsbury’s has recently reintroduced a £2 bonus on the Healthy Start card. Every time you use the card, you will receive a £2 coupon valid for fresh, frozen, and tinned fruits and vegetables.
Eating for less money is not just for those of us who are pregnant or new to motherhood – but for everyone. There are so many discounts on food out there it’s hard to keep track! For example, if you’ve not used Leon’s app before, you can sign up for its free Leon Club to get a 30% off code emailed to you that you can use on your next app order for most Leon restaurants. If you sign up for Bella Italia‘s newsletter and purchase a main meal from the A La Carte menu, you can get a free main meal when dining in one of their restaurants. McDonald’s also runs an ongoing weekly promotion that sees a new offer appear in the My McDonald’s app every Monday morning, which can be redeemed up until 11.59 pm the same day. I’m talking about offers such as six nuggets for 99p, £1.99 Double McMuffins and a Quarter Pounder with Cheese for £1.49. So worth it!
Benefits
Annually, households in the UK miss out on a total of £16 billion in benefits, primarily due to individuals being unaware of what they are eligible for. But there are benefit calculators such as Inbest that can assist you in maximising these claims. You’ll only need to provide some information about your living circumstances and income, and the algorithm can determine the potential benefits your household could receive.
Pet Care
Having a pet in need of immediate medical attention or facing challenges in affording its food can be overwhelming. However, there are avenues for support available. For example, you may qualify for Blue Cross veterinary care if you receive specific means-tested benefits and reside within the designated area of one of its hospitals or clinics. Of course, you can check your eligibility and hope for the best.
Loyalty Cards
Another approach to consider when it comes to money-saving techniques is to sign up to retailers’ loyalty cards. For us consumers, they can make significant savings, which is so useful, particularly in the current economic climate. Through loyalty cards, us shoppers can look beyond the cost savings and gain easy access to exclusive offers, early access to sales, and special promotions tailored to our preferences. For example, I have a Boots Advantage Card that gives me exclusive access to savings on specific products as well as offers and deals on the products I usually buy on repeat – like my daily essentials.
Enter Competitions
This might be a bit of a hidden money-saving gem, but I recently discovered that most of our favourite online magazine platforms also run a competition section every month. From chances of winning free staycations to household essentials, from sports classes to art shows, I think it’s worth entering these competitions and hope to win. Check out Cosmopolitan’s and Country Living Magazine’s competition sections as examples – they’re my favourites – but also try heading to your trusted online magazine and I’m sure they’ll have one of these sections too.
And finally......
Needless to say, if you’ve known and followed me for a while then you’ll know just how much I like savings and discounts. I hope that the discount schemes I’ve brought to you in today’s article are a big help in your life and that they will help you save money for something a little more enjoyable or important for your future self…
If these discounts aren’t enough, remember you can sign up for my newsletter as every month, I bring you all the discounts and offers I have come across. Whether fashion, food or wellness-related, discounts are the one thing that is never missing from my newsletters. And it’s only once a month, so no spam there!