Going green is a popular trend. The world is facing the imminent danger of global warming and the resulting destruction. Thus, countries are taking various measures to keep the situation under control. As a result, going green has become one of the most popular ways to live. It not only helps you to save your environment but also helps you to save money. As you start saving money, you realize the importance of money and thus, going green also helps you to avoid incurring debt. It acts as one of the debt solutions as you can also use the saved money to pay off your debts.
What is green investing?
Green investments too are in vogue and are similar to the traditional investment vehicles like the stocks, and exchange-traded funds and the mutual funds. The only difference is that the underlying business is involved in the operations which are generally aimed at bettering and improving the environment. Such companies can range from those which are developing on alternative energy technologies to those companies that do best environmental practices.
Why green investment is important?
The fossil fuel which we use to pollute the environment, and are obtained in a destructive way. When you reduce your need for these kinds of energy, you are not only able to save the environment but also your money. For example, as you reduce the usage of your home energy, the power and heating bill lowers. In this way, you will be able to save hundreds of dollars.
So, you can see that going green is important for our environment and also for our financial health.
How can you repay your debts with the help of green investment?
If you have huge debts, then you may have to enroll in a debt consolidation or debt settlement program. The debt counselor will also ask you to save money so that they can disburse the money to your creditors. If you want to repay your debts on your own, then also you have to save money first to get rid of the highest interest rate debts. Thus, saving money is the key to repay get out of debts.
Remember, considering green living can help you save money on energy consumption. Also buying at locally produced foods, second-hand things, saving water, and selling off items that you don’t need can help you save a lot of money. Thus, going green can be the solutions for debt.
Check out how to repay debts with making green investments:
- Make green investments through the ETFs
You can make green investing through the exchange-traded funds or the ETFs. Mutual funds are another alternative, in which professional portfolio managers make the decisions on green asset allocations based on the prospectus of the funds.
You can also choose some of the eco-friendly mutual funds other than investing in green ETFs. If you want to be a successful investor, you can go to a socially responsible investment advisor. This may help you to earn good money which can then help you to pay off your debts if you have any. Thus, green investments can act as one of your debt hacks.
- Buy green stocks
Nowadays, most of the solar and water and wind companies offer green stocks. So, you can invest your money in the different green stocks that are available. Even the green mutual funds and ETF funds are also available and you can invest in those. Moreover, green is now the most in the thing and so you may be able to make more money out of your green investments.
- Build a green home
However, other than investing in stocks and such other green accounts, you can simply invest money in everyday life needs that can help you go green. These kinds of products and items can actually help you save money in the long run.
For example, you can build a green home with better water facilities and lighting and air facilities. This is going to help you save money on electricity and water. You can replace the fittings in your bathroom to save water and money too, you can replace old windows with new ones and at new places to allow increased light dispersion. Invest money in the efficient light bulbs and in addition install an energy use monitor that is going to help you discern the amount of energy consumed. Install a water filter at the tap itself so that you do not require buying bottled water. This can save you lots of money.
In addition to this, invest your money in buying a programmable thermostat that is going to cost you on average $40. These units not only help you save money but also help you in leaving the tension of adjusting the temperature to the thermostat itself. Furthermore, get the energy auditions done. This can help you in reducing the consumption of energy so you can get help from the different energy utility companies who offer services to check with the energy consumption of a home.
- Get a fuel efficient car
Get a hybrid or fuel-efficient car that is going to help you save money on consumption of gasoline. These cars require less fuel and so even if these cars initially may seem to be high on cots, in the long run, helps you in saving money.
Lastly, the global temperature and the global debt amount are seen to be increasing day by day. This is supposed to make the global economy worse for one and all and so steps should be taken to solve these problems. It is said that people should rather try investing their money in all that is related to going green, thereby saving themselves from debts and also saving the earth from further destruction. For example, you can invest your money in the green stocks of those companies that are somehow related to going green like producing green energy, other kinds of green or environment-friendly products. This can help you make that extra money and use that money to pay off debts.