The credit crunch has made people think more about saving – which inadvertently means more people are becoming greener.

It seems that even the credit crunch cloud has a silver lining, or at least green one. Indeed according to new research from cahoot, Brits are starting to live greener lives as a by product of their efforts to keep their living costs down.

It says 72% of us are trying to cut our energy bills by turning off electrical items, such as PC’s or TVs, when not in use, while 60% are switching to energy efficient light bulbs. A further 58% are turning down the heating and wrapping up around the home, while 48% are ‘mothballing’ unused rooms to avoid having to heat them. Others are changing their bath time rituals with almost half hoping to slash water and heating bills by shunning baths for showers and almost one-in-ten sharing bath water with family members.

Matthew Timms of cahoot, says: “The credit crunch has put money saving at the front of everyone’s minds. So it’s great to see that the simple sacrifices people are making are at least helping us to live greener as a result.”

Offset is the best incentive to save – the more saved is the more reduced on a monthly mortgage statement. But for those who do have an environmental conscience, this is an added incentive. Thinking about carbon footprints and reducing energy amounts will save you money, it will help with your offset mortgage and it will, hopefully go towards saving the environment. Offset is a win-win financial product, but being green to boot is a win-win-win result for all offset mortgage holders.

SOURCE: Abbey, 13/02/09

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