Putting the 3 Rs (Reduce, Reuse and Recycle) into a financial context

by Shelley Koehli, LIT, CIRP
October 11, 2019

Climate change seems to be on the top of mind for many people these days, which got me thinking about how to incorporate reducing waste, specifically with the 3 Rs, into your everyday finances.

 

Reduce

  1. Cut back on fuel. Can you walk or cycle to do small errands?  Can you combine numerous errands into one day in the week, thus reducing the number of times you need to run out?  If taking transit, walking or cycling isn’t an option for going to work, what about carpooling?  Is your child involved in sports or other extracurricular activities?  Can you and other parents join to alternate driving kids to practice?
  2. How many times do you run to the store each week?  Do you meal plan for the week?  How much food do you throw out on a weekly basis?  If you meal plan, you will reduce the amount you purchase, reduce the amount of food you throw away and reduce your bill.  Don’t forget to take an inventory of your cupboards and freezer before planning for the week.
  3. Packaging. All those snacks we buy for our kid’s lunches.  How about baking banana bread, muffins and cookies to reduce plastic waste.   Making our own snack packs with crackers, cheese and meat that we’ve purchased in bulk using reusable containers.
 

Reuse

  1. One positive thing about Facebook is the prevalence of buy, sell, trade and share groups. I often forgo purchasing new items if I can find gently used things on a local site.  I also give away or sell toys and clothing after my son has outgrown them.  It’s a perfect way to keep used clothing and toys out of the landfill.
  2. Hang on to those school supplies each year and reuse what you can.
 

Recycle

  1. Are you crafty? Can you repurpose an item rather than throwing it away?  Examples can be glass jars, containers or cans.
  2. Clothing that can’t be donated or sold can be sent to a fabric recycler for repurposing.
 

I’m sure there are many ways you can reduce, reuse and recycle that will help you save money in the short run, and help to save the planet in the long run.  Please comment with your ideas.

Shelley Koehli is a Licensed Insolvency Trustee and Chartered Insolvency and Restructuring professional with D. Thode & Associates Inc., helping individuals who are facing financial difficulty obtain a fresh financial start in British Columbia.