5 habits to help with sustainability and saving money

Making financial decisions that align with your values can help support the things you care about and your well-being. “Over time, it gives us higher satisfaction with our lives,” says Bright Dickson, an expert in positive psychology and co-host of the Money and Mindset podcast.

If you’re passionate about protecting the environment, you’re not alone. A recent survey found that 73% of Gen Zers and 77% of millennials are actively trying to decrease their carbon footprint.^{Disclosure 1} And if you’re looking for ways your money choices and habits can help with this, then spending and investing with sustainability in mind could help make a difference. Here are some habits that may even be able to help you save money.

1. Spending and consuming less

When you’re buying something new, it’s a good idea to pause and ask yourself, “Do I really need this?” That’s especially true on social media—where 78% of users have purchased a product after seeing it on TikTok.^{Disclosure 2} While influencers may drive trends that encourage overconsumption, a growing “de-influencing” movement is shifting the narrative.^{Disclosure 3}

Research shows that the fashion industry is responsible for up to 8% of carbon emissions worldwide,^{Disclosure 4} and discarded clothing contributes to landfills. Buying fewer new clothes can help you save money and reduce waste.

For dressy events, consider sustainable shopping alternatives like renting items you may only wear once or twice. For everyday wear, thrift shopping or exchanging clothes with friends can help reduce resource overconsumption. Sustainable style can still be chic—and by taking good care of the clothes you have now, you can also make your wardrobe last longer.

Beyond clothes, applying that less-is-more mindset to other things you buy—whether it’s smartphones or energy-efficient appliances—can help you save more money and safeguard the environment.

“I love the idea of just allowing your things to go further,” says Brian Ford, head of financial wellness at Truist. “You can be grateful for what you have and know that you’re using less of the earth’s resources.”

2. Buying from sustainable brands and shopping closer to home

Consider heading to the farmers market for groceries or buying from shops that stock goods from local vendors. Buying products made in your community, from local produce to handmade jewelry, may be able to help reduce the greenhouse gas emissions that come with long-distance production, storage, and transportation.

When you’re shopping, remember to bring your own shopping bags to reduce your need for single-use plastic bags. Avoiding buying individually wrapped items can also be a way to reduce single-use plastic waste.

“Being frugal and buying less stuff can actually be good for the environment.”
—Brian Ford, Head of Financial Wellness, Truist