Everyone likes to save a few bucks when they can, right? And it’s even better if you find a few bucks in an old jacket pocket or your couch cushions. The best money is found money. But most of us do it on a small scale. What do you have to do to save billions of dollars? Turns out there are some remarkable things going on all the time, or things we could at least try to do, that can save veritable boatloads of money.
10. Bats Save $3 Billion in Pesticides
According to the EPA, worldwide pesticide expenditures were around $56 billion back in 2012. We’re dropping baffling amounts of cash to combat insects, so if there’s a way to save some money, it’s definitely worth looking into. And, fortunately for us, nature provides its own pest-control methods at no upfront cost.
It’s been estimated that bats are able to consume enough bugs when they head out to feed at night to save as much as $3 billion worth of pesticides. Other figures suggest bats prevent $23 billion in annual crop losses in the US alone.
A single bat can eat 1,200 mosquitos in an hour. America’s largest bat colony in Bracken, Texas, is estimated to be home to about 15 million Mexican free-tail bats, so you can imagine how much those little guys are pulling down each and every day. The fact that some people consider bats themselves to be pests just shows a fundamental misunderstanding of how useful these little animals truly are.
9. One Dollar Coins Would Save $4.4 Billion
Some years ago, Canada took all of their one dollar bills out of circulation and replaced them with coins that feature an image of a loon, popularly known as loonies. They went over so well that a few years later they retired their two-dollar bills and replaced them with toonies. And aside from having fun names, there’s a clear cost benefit to a plan like this.
It’s been estimated that if the US would drop dollar bills and swap them for coins that they’d save around $4.4 billion over 30 years just in the cost associated with printing paper money. Coins just last longer and are more durable. So what’s the holdup? No one likes them.
For whatever reason, one dollar coins are a hard sell in America. They do exist and over half of them are currently just sitting in government vaults. But people prefer paper money. Canada and other countries have shown that, if you don’t give people the choice, they’ll adapt to the coins with no problem, but that step has yet to be taken.
8. Electric Vehicles Would Save Billions of Dollars
Electric vehicles are the future, that seems pretty clear. Fossil fuels will literally run out one day and though we’re very good at ignoring the future as a species, it can only be ignored for so long. That’s why Elon Musk and other car makers are hopping on the bandwagon now, not just to appeal to the environmentally conscious, but to corner the market ahead of time. There are a lot of big number reasons why electric is a potential winner.
To start with, it could save lives. Hundreds of thousands of them, thanks to reduced pollution. But even from a callous financial standpoint, it’s a really good idea to make the switch as well. According to one estimate, going electric on the roads would save around $17 billion every year in terms of damages from climate change and pollution. That’s a pretty good motivator, and it’s only if 25% of cars switch over. Bump it up to 75% of cars on the road and savings reach $70 billion.
7. If 1 in 10 Smokers Quit it Would Save $63 Billion
Smoking is a bad habit that can kill you. It also puts a real burden on society when those who continue to smoke get sick and need medical treatment as a result. In the UK, it’s been estimated that smokers cost the country £13 billion per year.Money that could all be saved if people could be convinced to stop smoking.
In the US, the problem comes with a much bigger price tag. According to one study from the University of California, if just one in 10 American smokers gave up the habit, it would save $63 billion in healthcare costs. Healthcare costs in California alone dropped $15 billion the year after smoking was banned in the state.
6. Changing School Start Times Would Save $9 Billion Per Year
Changing school start times is an issue that’s popped up in various communities over the years for various reasons. Some people think it helps students learn better, some think it would be better for traffic congestion in the mornings. But the social benefits are just one aspect of why this could be a good idea. There’s a solid dollar value attached with doing this as well that flies in the face of common criticisms of the plan.
Some are concerned that a later start time would somehow increase things like transportation costs. In fact, the opposite is true and starting school just 30 minutes later would save the government $9 billion per year.Within a decade $83 billion in savings could be realized with that jumping to $140 billion in 15 years. The benefits are a result of lower accident rates and higher academic performance, among other benefits.
5. Mangroves Prevent Billions in Coastal Damage
Flood damage is probably worse than most people realize. You see major floods on the news sometimes and obviously there’s damage to cities, but that’s not the only flood damage out there. Plenty of storms end up ravaging coastal regions year after year to the tune of $50 billion a year in the US alone. And this is an issue that affects every part of the world where land and water meet for as much as $730 billion a year.
While we can deal with damage after the fact, natural defenses are one of the most valuable resources we have. Things like natural reefs and mangroves are responsible for keeping flood waters at bay and mangroves in particular, those gnarly looking trees whose roots hang down into swamps and rivers, have a huge impact. They provide a buffer against rising waters and prevent upwards of $65 billion in flood damage.
4. Eating Ugly Produce Can Save Over $15 Billion
Every year in America, $160 billion worth of food goes right into the trash. The average family of four tosses $1,600 per year in the trash, and this happens for a variety of reasons. Stuff gets damaged, it goes bad before it can be used; the packaging gets damaged, whatever.
One of the causes of loss is not on par with the others, however. Ugly food is a major cause of food waste and it’s based in no way on quality. Ugly food is entirely safe and edible, it just looks bad. Malformed apples, funky bananas, and discolored oranges are often tossed out despite being as nutritious and tasty as their prettier brethren.
For years farms, distributors and stores would toss all of this food out before consumers even saw it. But there has been a shift in recent years and research shows that consumers will absolutely embrace ugly food, especially if you come right out and tell them it’s ugly. American retailers dump $15 billion of ugly food per year while farms themselves toss out over 66 million tons, all of which could be saved just by making it available.
3. Pet Ownership Saves $11.7 Billion Per Year in Healthcare Costs
Are you a dog person or a cat person? As long as you’re one or the other, there’s a good chance you’re saving money, at least on healthcare costs as opposed to pet food. Pets have been shown to have numerous health benefits, ranging from lowered blood pressure to reduced stress. But if you want to put a price tag on it you can. It’s $11.7 billion per year.
According to research from George Mason University, all of those health benefits add up to that figure. Pet owners visit the doctor 0.6 times less than non-pet owners. With 132.8 million pet owners, that works out to $11.37 billion less spent at the doctor. So where does that extra $400 million come from? Walking the dog! Five or more walks a week shaves off the extra amount to raise the total to $11.7 billion, thanks to lower obesity rates among those dog walkers.
If you don’t already own a pet, it’s worth remembering that this figure is money saved on healthcare costs, not money in your wallet since pet owners are going to be spending a lot more on chew toys, kibble and pet-sized Halloween costumes.
2. Oysters Can Prevent Billions of Dollars in Flood Damage and Water Treatment
There are a lot of rivers and bays and other waterways in the world that are heavily polluted these days thanks to years of oil, trash, chemicals and other filthy things being dumped. That, in turn, kills off coral reefs and other natural features under the water that have a profound impact on the world above the waves.
The Billion Oyster Project is attempting to restore New York’s oyster reefs by taking actual oyster and clam shells from restaurants and dumping them back in the water. This is because New York used to have over 200,000 acres of oyster reefs and each little oyster naturally filters 50 liters of water a day. But when they die off, the water gets filthier and filthier. And there’s a bigger risk of flooding in the city as well. The reefs are natural blockades and when they go, big storm surges can flood the city streets.And it’s not just New York, but all coastal areas. Natural barriers, like oyster reefs, prevent tens of billions of dollars worth of potential flood damage.
The natural filtration ability of oysters can also help with water treatment that could save billions more in technology costs.
1. Peeing in the Shower Could Save Americans $1.5 billion
Here’s a rhetorical question – do you pee in the shower? No need to answer. It’s just a point to ponder because it’s more relevant than you’d think, not just to the topic at hand, but to your personal bank account.
Based on EPA numbers, your toilet accounts for about 30% of all the water your house uses. To break that down into dollars and cents, when you flush the toilet, you’re sending 1.3 cents down the drain with it, each and every time. That can add up over a year. And when you account for every single person in the country, it adds up to a hell of a lot. But it’s a necessary thing, right? Obviously, you have to flush the toilet. Except, what if you didn’t have to every single time?
There are 329.5 million people in the country. If everyone in the country flushed one toilet per day, that would cost $4.28 million. That’s every day. At the end of the year, we all just flushed away $1.5 billion.
Now here’s the thing. If you peed in the shower instead of in the toilet once per day (in a shower you would be taking anyway), then the 1.6 gallons of water you flushed is saved. The 1.3 cents is saved. The $1.5 billion is saved.
Obviously there are a lot of real world wrinkles in the math here, ranging from toilets that use more water and the fact not everyone is taking a shower every day. But it’s worth noting, at least on a personal level, you’re saving about $5 a year all by yourself if you pee in the shower once a day instead of flushing it away.