BECOMING more environmentally conscious isn’t just a morally responsible mind-set to inhabit these days, it’s a surefire way to save and make money, according to David Bach, a renowned financial adviser and the author of “Go Green, Live Rich.”
“Much of my savings came from giving up my car. I walk to work now and don’t have any parking, insurance or gasoline fees. You can’t underestimate the costs of a car,” says the author who shared 50 of his money saving and earning tips in his new book.
It was actually a residential move to the Solaire, one of the leading green buildings located in Battery Park that cemented Bach’s decision to transform his life. The eco-minded shift over the past year has saved him $20,000, he says.
However it wasn’t just his finances that improved. The author says his allergies got better and his 10-year-old son’s asthma disappeared.
“Going green is not only good for our planet, but for our families,” attests the 44-year-old finance expert.
Bach also witnessed a steep drop in utility bills. His apartment tower uses 35 percent less energy than a typical building of the same size, two-thirds as much water, and most of the building materials used have recycled content.
Bach says his green lifestyle is still evolving, recently he started drinking tap water, and changed the cleaning products he uses and dry cleaners he patronizes.
While he admits he’s still a frequent business traveler, he now opts to fly on environmentally friendly airline.
“There’s no doubt in my mind, one of the biggest investment opportunities in the next 20 years is green technology,” he says. Private money is pouring by the billions, he claims.
Mo’ Eco, mo’ dough
* Sell your junk. People traded $52 billion last year on eBay, according to Bach. Craigslist.org is another great place to sell your stuff.
* Invest in a green fund if you are eligible for a 401 (k) plan at work, find out if your investment “menu” includes green funds, advises Bach. Check out Morningstar.com.
* Try green direct selling. Marketing opportunities are plentiful for all things eco. From beauty to gadgets.
* Start a green business.Grants are available. The Community Conservation Enterprises (CCE) has doled out thousands.
* Get a green job. The industry is fast-growing. By 2010, there’ll be as many as 500,000 jobs. See Jamesgang.com for ideas.