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The Independent
7 days ago
- Business
- The Independent
The one-second habit that could save you £60 on your power bill
Amidst the ongoing cost-of-living crisis and soaring inflation, households are scrutinising their spending habits more closely than ever. While many instinctively cut back on discretionary spending like new clothes, daily coffees, or dining out, and even cancelling memberships, simpler ways to reduce expenditure often exist. One such overlooked method, potentially right under our noses, is unplugging household appliances. Lisa Stanley, chief sustainability officer at Zero and co-founder of Good With Money, asserts that unplugging appliances from the wall '100 per cent saves money'. She highlights studies from consumer champion Which? which indicate this simple habit could lead to annual savings of up to £60. 'The reason why it saves money is because if you leave sockets turned on, or plugs turned on at the socket, it has this thing called vampire power,' Stanley explains. 'It actually continues to suck the power once you turn off the socket but when you unplug the appliance, it breaks the circuit and can no longer continue to take that flow of electricity.' Although appliances can eat up energy a lot, Stanley says it's 'simple, small lifestyle changes that can make a difference and they don't need to impact your quality of life at all'. What appliances take up most energy? 'When it comes to your fridge and freezer for example, they are quite energy-hungry but of course you've got to keep them turned on all the time,' Stanley says. 'Other appliances, like your set-top box, actually use quite a lot of energy too but you may find that if you turn that off then it messes with your settings, so you may not want to do that frequently. 'However, you can also look at your laptops and TVs because you can turn your TV off without it impacting your set-top box. All of your tech actually uses around 6% of your entire home's energy and that isn't including someone who is working at home daily or a heavy gamer. 'Unfortunately, other kitchen appliances, such as a dishwasher, can use up to 4% of your home's energy in a year but you can start looking at using the eco-settings.' What changes can people make when thinking about appliances? 'The first thing you can do is make sure you're not falling victim to vampire power and you're turning off all your sockets as much as possible,' Stanley says. 'Really think about it. For example, when I'm working at home I will plug my laptop in, go downstairs to get lunch and I leave it plugged in, even if my laptop is fully charged – so be aware of these things.' 'Secondly, you can switch to LED light bulbs which are also much kinder to the planet and are longer lasting. The manufacturing impact of them is also better because you're not having to replace them all the time. ' Thirdly, if you're boiling the kettle – which is really energy hungry – make sure if you're only making a cup of tea for one person, pour it into a mug before you pour it into the kettle. That way, you're only boiling as much water as you need and it's also saving water – which at the moment is really important that we try and do. 'You can also wash your dishes by hand, run all your appliances on the eco-setting or when washing your clothes, turn down the temperature to 20 or 30 degrees or even cold if you can, as that can make a massive difference to both the amount of energy used and the cost. 'At this time of the year as it is hot, fans are another thing to think about when it comes to energy. If it's a standard desk fan, you can get it from somewhere like John Lewis and costs 1p an hour to run, versus if you've got one of the Dyson fans that are also air purifiers, they can cost up to 66p an hour to run. 'There are also massive differences with the type of smart speakers too. Be aware that keeping music playing when you're not in the room is essentially sucking power when it's not needed.'
The Independent
7 days ago
- Business
- The Independent
Should you turn your appliances off at the wall to save money?
With the cost-of-living crisis, inflation and rising expenditures, people are becoming more aware of their outgoings and spending habits. They may automatically consider obvious things to cut back on such as clothes, coffees, eating out, or cancelling memberships. However, often there are easier ways to reduce costs with things that may be right in front of you, such as unplugging appliances to save on energy bills. Chief sustainability officer at Zero and co-founder of Good With Money Lisa Stanley says that unplugging appliances at the wall '100% saves money'. Stanley says that studies from Which? have shown that doing this can save up to £60 a year. 'The reason why it saves money is because if you leave sockets turned on, or plugs turned on at the socket, it has this thing called vampire power,' Stanley explains. 'It actually continues to suck the power once you turn off the socket but when you unplug the appliance, it breaks the circuit and can no longer continue to take that flow of electricity.' Although appliances can eat up energy a lot, Stanley says it's 'simple, small lifestyle changes that can make a difference and they don't need to impact your quality of life at all'. What appliances take up most energy? 'When it comes to your fridge and freezer for example, they are quite energy-hungry but of course you've got to keep them turned on all the time,' Stanley says. 'Other appliances, like your set-top box, actually use quite a lot of energy too but you may find that if you turn that off then it messes with your settings, so you may not want to do that frequently. 'However, you can also look at your laptops and TVs because you can turn your TV off without it impacting your set-top box. All of your tech actually uses around 6% of your entire home's energy and that isn't including someone who is working at home daily or a heavy gamer. 'Unfortunately, other kitchen appliances, such as a dishwasher, can use up to 4% of your home's energy in a year but you can start looking at using the eco-settings.' What changes can people make when thinking about appliances? 'The first thing you can do is make sure you're not falling victim to vampire power and you're turning off all your sockets as much as possible,' Stanley says. 'Really think about it. For example, when I'm working at home I will plug my laptop in, go downstairs to get lunch and I leave it plugged in, even if my laptop is fully charged – so be aware of these things.' 'Secondly, you can switch to LED light bulbs which are also much kinder to the planet and are longer lasting. The manufacturing impact of them is also better because you're not having to replace them all the time. 'Thirdly, if you're boiling the kettle – which is really energy hungry – make sure if you're only making a cup of tea for one person, pour it into a mug before you pour it into the kettle. That way, you're only boiling as much water as you need and it's also saving water – which at the moment is really important that we try and do. 'You can also wash your dishes by hand, run all your appliances on the eco-setting or when washing your clothes, turn down the temperature to 20 or 30 degrees or even cold if you can, as that can make a massive difference to both the amount of energy used and the cost. 'At this time of the year as it is hot, fans are another thing to think about when it comes to energy. If it's a standard desk fan, you can get it from somewhere like John Lewis and costs 1p an hour to run, versus if you've got one of the Dyson fans that are also air purifiers, they can cost up to 66p an hour to run. 'There are also massive differences with the type of smart speakers too. Be aware that keeping music playing when you're not in the room is essentially sucking power when it's not needed.'
Finextra
07-07-2025
- Business
- Finextra
Starling strengthens marketing team ahead of branch refresh
Starling has announced its new brand platform, 'Good with money', as the bank prepares to rebrand with a new visual identity, brand mission and media strategy later this year. 0 Four senior hires have joined Starling's in-house team to help deliver the bank's new brand, and agencies The Sunshine Company and Wolff Olins have been appointed. Starling's 'Good with money' platform is supported by the bank's central mission that one day, everyone in the UK will have a healthy relationship with their money. This mission is a response to the challenging financial landscape for people in the UK, with more than half of UK adults worried about the state of their finances.* Starling aims to encourage customers to take active control of their finances by using its in-app features and tools that make money management an everyday habit. Starling plans to release more features that guide customers towards financial wellness, with the bank recently launching Spending Intelligence, a UK-first banking feature that lets customers ask questions about their spending habits. 'Starling's app-based approach to banking changed the sector for good. Now we have a new mandate to change the UK's relationship with money,' Michele Rousseau, Chief Marketing Officer at Starling, said. 'There's a misunderstanding that being Good with money is about having a lot of it, when in reality it's about knowing what to do with it. We believe that with the right tools and the right mindset, financial wellbeing can be in reach for everyone.' 'Good with money' will feature on a series of creative executions across owned and above the line channels later this year, which will be created by Starling's in-house studio in partnership with newly appointed brand and creative partner, The Sunshine Company. The bank is also in the process of refreshing its visual identity, with an updated logo, colour palette and app design - designed in collaboration with Wolff Olins - set to follow. Four new senior hires have joined Starling's marketing team to help deliver the new brand, including a Brand Strategy Director, Brand and Product Marketing Director, and two Executive Creative Directors. The newly created roles have been filled by Indiana Matine, John Harrison, Neil Cooper and Rachel Sullivan, who bring experience from Expedia Group, BBH, Wieden+Kennedy, Wolff Olins and Conde Nast. 'Starling has proven its worth as a bank that fits into people's everyday lives. Our challenge now is to go a step beyond that, by tackling the inertia within banking and the perception that banking is a utility. We're drawing inspiration from wellness and sports brands, with a mission to make money management an everyday action that can improve your wellbeing,' Rousseau continued. Starling will announce its new media agency this summer following a competitive pitch process.
Metro
05-06-2025
- Business
- Metro
Your pension pollutes more than planes — here's how to make your money do good
You recycle your yoghurt cartons, watch your carbon footprint and always choose the 'green' supermarket delivery slot, but you may be ignoring one of the biggest ways you can make a positive environmental difference; the money that you invest and put into your bank account. Figures from Make My Money Matter, an ethical finance group backed by filmmaker Richard Curtis, show that changing just one product – your pension – reduces your carbon footprint 21 times more than if you gave up flying, went vegetarian and switched your energy provider to a greener version. 'Consumers are waking up to the power their money has,' says David Macdonald, ethical financial planner at Path Financial. 'In much the same way that people now won't buy products from companies with exploitative supply-chains or won't tolerate their friends drink-driving, attitudes with money are changing too.' There are many ways you can use your money to make the world a better place without sacrificing convenience or financial performance. Here are 10 of them, big and small. The smallest green change needs only a single click and proves that every little helps. Almost every bank offers you the choice of paper or 'paperless' bank statements, and by going paperless you are making an environmental difference. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video High street bank NatWest calculates that by moving from a paper bank statement to a digital one, you save the same amount of greenhouse gas emissions as are generated by charging your smartphone five times a month, so it's worth clicking that box. Where you do your day-to-day banking really matters, says Lori Campbell, from ethical finance site Good With Money. Check where they invest your savings, so that your salary is not helping to fund environmentally harmful practices. It can benefit your pocket as well as the planet: at the moment, Nationwide, which is rated highly by Good With Money, is offering £200 to switch through the current account switching service, and the mutual also pays out £100 Fairer Share bonuses to eligible members each year, with the latest batch hitting accounts from this month. If you have a workplace pension, chances are it is invested in whichever fund is the default for your company. But you may have a more ethical option available that you aren't aware of, and it can be easy to switch. The fund that your pension is in should be on your annual statement. You can check how it is invested and if you aren't happy with it, ask your workplace provider if it has a 'green', 'responsible' or 'ethical' option. If it does, check what it invests in and whether you're happy with performance, and if you are, you can ask to switch all or a proportion of your fund. Many of us want our savings and investments to be more sustainable but are bewildered by the many funds and products out there, that promise to be 'green' or 'environmental' (and don't always live up to expectations). Lori, at Good With Money, says this is 'greenwashing' – a marketing technique where a provider or product appears to be more eco-friendly than it is. If your pension or Isa is invested in funds, you can check whether it lives up to green credentials by looking at the companies it holds in its fund. Some that are badged as 'green' simply screen out certain types of companies – for example those involved in fossil fuels or tobacco – while others screen positively for companies that are trying to make an active difference. As well as buying funds with good outcomes, you can divest those you aren't happy with in terms of their ethical actions. David, at Path Financial, says that if you're swapping out shares in companies you are not happy with, you are making some difference – but you must also consider what to buy instead. He suggests replacing any shares for which you aren't happy with the ethics of with funds that attempt to be actively good. 'One example is the Columbia Threadneedle UK Social Bond fund,' David says. 'With this, the £1 you have just made by selling your 'bad actor' can go into a new housing unit for a vulnerable person.' This fund's bonds include money lent to affordable healthcare companies as well as social housing in various countries. 'Such investments have a direct impact and a serious social purpose,' David adds – and the fund also yields over 4%. Is your pension provider or fund manager making a difference? David recommends choosing companies that will advocate for the change you want to see. Those running funds or pensions get a vote on the activities of the companies they're investing in. And he notes that while most do not take it seriously, some do. 'I'd look at the stewardship aspect of whoever is running your pension or the fund it invests in,' he says. 'Do they use their vote to influence companies for the change you want to see? I'd recommend using a financial adviser or fund manager who expressly goes to company annual general meetings and presses for better behaviour from companies.' Alternatively, buy the shares yourself. After all, you only need to own one share to have a right to attend meetings. This could be via a self-select Isa or Sipp (self-invested personal pension). That's real shareholder action! Rather than putting your savings with a giant high-street bank, help your local area or those otherwise connected with you by depositing them with a credit union. These organisations help people to access affordable credit and can offer attractive savings rates, too. Figures from financial services consultancy Broadstone, out this month, show that they are more popular than ever, with more than two million members across the country. Richard Pinch, senior director at Broadstone, believes they are one of the finance world's 'best-kept secrets', adding: 'Another bonus of credit unions is that they offer attractive rates to savers, who also benefit from the knowledge that their deposits are helping to provide loans for other members.' Investing your money at an early stage into small projects can help you to make a difference and get a return. Ethical bank Triodos offers several investments, some of which can be put into an innovative finance Isa (Ifisa) to gain tax relief. Alternatively, David at Path recommends using One Planet Capital to invest in green start-ups that are investing in environmental challenges. The One Planet Capital schemes include a significant amount of tax relief as they are either an Enterprise Investment Scheme (EIS) or Seed Enterprise Investment Scheme (SEIS). More Trending However, these are risky investments and you may not get your money back, so are only suitable for expert investors. As well as greening your own affair, you can speak to others about the environmental impact of financial decisions. You can find resources on this on the Make My Money Matter website and a list of companies on the Good With Money website that hold a Good Egg award for ethical finance. View More » None of this means, of course, that you can forget about those yoghurt cartons… Do you have a story to share? 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