Posted by Lending Club :: July 18, 2008 @ 9:07 am

The environmental benefits of the 3 Rs (Reduce, Reuse, Recycle) are well known and are often the dominant reason for discussing them. However, the positive financial benefits of each are also significant and should not be overlooked. Whether your motivation is environmental or financial, implementing the 3 Rs in your household is a smart way to go.

Reduce

A simple change like using cloth grocery bags not only reduces the amount of trash you will generate, but it can also save you money in a number of ways. This is a habit I got into when I lived in Germany, where disposable bags were available but cost a few cents each. Many supermarkets in the US offer discounts ($0.05 per bag is typical) for each cloth bag you use. In the long run, having fewer people using the “free” bags from grocery stores could also lead to lower grocery prices for everyone.

Reuse

Before making any purchase, think long and hard about whether you can reuse something that you have already purchased. This idea goes far beyond hand-me-down clothes for kids, thanks to websites like Freecycle that let you give and get items that people in your area no longer need. Rather than throwing things away, you can give them to people who will put them to good use. Getting items through such a program – rather than paying for them – has clear financial benefits.

Recycle

While this may sound like a purely environmental activity, there are actually a few ways that recycling can save you money. First, some states collect deposits on recyclable containers. Recycling in such circumstances puts real cash in your pocket. In other locales, residents pay for their trash by the number of bags they use, or by weight. In either case, recycling will significantly reduce the amount that you will get charged to dispose of waste. In fact, a comprehensive recycling program, together with diligent composting, can eliminate nearly all of your trash.

The nice thing about the 3 Rs is that they have multiple benefits. Those looking to protect the environment do so but also get to save a little money in the process. Those looking to save a few dollars do so while getting the added benefit of a cleaner earth, which may lead to lower costs for the generations to come.