Issue Date: February 3, 2008
6 ways to save money while staying green
Small acts that help the environment, and you save money.
By Natalie Ermann Russell
Just say no to ATM receipts: The volume of paper saved could circle the equator 15 times.
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Do you associate the color green with the environmental movement or cold, hard cash? How about both? Here are ways to make cash -- and trees -- grow:
Get an energy audit.
Good for the environment: Figure out how much energy your home is using -- and how to put it on an energy diet. You can do an audit yourself (use the online calculator at hes.lbl.gov). Or hire an energy auditor (try resnet.us; under "Consumer Information," click on "Find a Certified Rater").
Good for you: If you make the recommended changes, you'll enjoy savings year after year.
Use an eco-conscious bank.
Good for the environment: Many banks are adopting programs to address global warming and deforestation. Bank of America, for instance, recycles almost 50,000 tons of paper each year and has reduced each associate's paper usage by 40% by holding paperless meetings and making double-sided copies.
Good for you: Electronic bank statements free you from paper clutter at home.
Opt for no receipt.
Good for the environment: If we all pressed "no" when the ATM asked whether we wanted a receipt, "we'd save enough paper to circle the equator 15 times," says Thomas Kostigen, co-author of The Green Book. Proof of your ATM transactions can be seen in your online bank statement. Some bricks-and-mortar businesses are following suit: National Car Rental, some Starwood Hotels (like Sheraton and Westin) and Apple, for example, give you the option of receiving a receipt via e-mail rather than a printed one at the checkout counter.
Good for you: No more sorting through annoying bits of paper.
Buy green energy from your power company.
Good for the environment: Green power comes from wind, solar, geothermal and other renewable sources of energy. Why buy it? Because non-renewable fossil fuel-based energy sources (coal, natural gas) contribute more to global warming than any other human activities, says the Environmental Protection Agency. More than half of us can buy green power directly from the electric company; the rest can support the development of renewable energy by buying renewable energy certificates (RECs). To find reputable suppliers, go to epa.gov and search for "Green Power Locator." It will add a few cents per kilowatt-hour (the energy measurement) to your power bill.
Good for you: Better air to breathe and guilt-free electricity use.
Green your investing ...
Good for the environment: You can invest well and support companies that do well by the planet. "It's an investment, not participation in charitable giving," says Tom Moser, an Arizona-based certified financial planner. "Do [your] financial homework; [don't] paint all sustainable investments with a single brush."
Good for you: It can benefit your bottom line. Check out SocialFunds.com to learn more.
... And your communication.
Good for the environment: Many phone and Internet providers (EcoISP.com, EarthTones.com, WorkingAssets.com and BetterWorldTelecom.com, to name just a few) donate a portion of profits to green causes. EcoISP also uses only recycled paper, and EarthTones and BetterWorldTelecom encourage "tree-free" billing (via e-mail) but will send you bills -- on recycled paper, natch -- if you opt for that.
Good for you: Rates are competitive -- and at times even lower than your local phone company's.
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