Q Is now the right time to buy an electric car, or should I wait for prices to come down? 

A When you’re buying an electric car (EV), it’s important to consider both the upfront cost and the running cost or cost of ownership. 

Our data shows that the upfront cost is already coming down. People buying new EVs on our site were paying on average just over £3,000 more for their vehicles six months ago than they are now.  

But it has been widely reported that heavy discounting is likely to remain, as car manufacturers face increasing pressure to hit ambitious EV sales targets set by the government. And we expect an influx of EVs from Chinese brands, which will be priced very competitively. 

Generally speaking, electric cars cost less to run than petrol or diesel alternatives if you can charge one at home (don’t forget to explore grants towards the installation of your chargepoint) – especially if you get an EV specific tariff and are clever about it, such as by charging overnight.  

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Savings on fuel can add up to a huge amount over the lifetime of your car – and you’re likely to spend less on maintenance, as EVs have far fewer moving parts than petrol and diesel vehicles, so put simply, there’s less to look after. 

There are also incentives in place for the time being to encourage EV adoption. But exemption from road tax (and the £310-a-year Expensive Car Supplement for cars listed at more than £40,000) is something that’s being discontinued from April 2025. However, realistically incentives won’t be sustainable at scale as more and more people switch to electric; they’re about encouraging early adopters. 

Suffice to say that the market is in flux. There is no crystal ball we can use to say for certain exactly what will happen to the cost of an EV – both upfront and in-life. But there are attractive incentives to take advantage of now, from discounts on the list price to in-life benefits like road tax exemption and grants towards charging facilities. 

Our advice is that if an EV appeals to you – whether you’re motivated by doing right by the planet, or you’re interested in the latest tech – there are plenty of compelling reasons to go for it. But if you’re not sure, there’s no harm in hanging on. Ultimately we’ll all be driving one – it’s just a matter of when individuals make the right move for them. 

John Rawlings is consumer editor at Carwow, the online car-changing marketplace. John has been involved with the car industry for over 25 years, from starting as a journalist at Haymarket Publishing (reviewing cars for their towing ability as Deputy Editor of Practical Caravan) to working in the PR teams at Vauxhall, Volvo and Volkswagen. As Consumer Editor, John is responsible for writing news stories and articles to keep car buyers and owners informed and up to date on everything they need to know about using or choosing a new or used car. 

Photo credits: Pexels

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With the cost of living still high, finding ways to reduce expenses and save money has never been more critical. Today’s blog post will explore five practical tips for saving money, paying off debt, and minimising environmental impact. 

Save money with energy-efficient appliances 

Upgrading to energy-efficient appliances is a great eco-friendly way to save money around the home. Doing so will reduce your carbon footprint and significantly save money on your utility bills. For example, replacing an old, energy-draining refrigerator with an Energy Star-certified model could save lots of money each year on electricity costs.  

Use the money saved by not replacing the fridge to pay off high-interest debt, such as credit and store cards, to accelerate your debt repayment journey while simultaneously reducing your environmental impact. 

Repair items instead of replacing them 

You’ve probably heard the phrase ‘out with the old and in with the new’, but that doesn’t always need to be your default position. When faced with a malfunctioning item, consider repairing it instead of immediately replacing it with a new one. If your washing machine breaks down and a repair technician diagnoses a faulty pump.  

Instead of spending hundreds of pounds on a brand-new one, invest in a relatively inexpensive replacement part and repair it. You can then redirect the funds you saved from not replacing the washing machine towards making extra payments on your outstanding debts, helping you pay them off faster and saving you money on interest charges in the long run. 

Optimise your food management 

Proper food storage, meal planning, and creative use of leftovers and scraps are great eco-friendly ways to minimise waste and consistently save money on groceries. What’s more, by investing in quality storage containers and utilising refrigerator space effectively, you can extend the shelf life of groceries and reduce the need for frequent shopping trips.  

Additionally, planning meals to use up ingredients before they spoil and repurposing leftovers and scraps into new dishes or homemade products can further reduce waste and grocery expenses. By maximising food efficiency, you can redirect the money saved towards paying off debt, accelerating your journey towards debt freedom. 

Embrace sustainable transportation 

With transport being responsible for approximately a quarter of the EU’s total greenhouse gas (GHG) emissions and causing air and noise pollution, considering alternative modes of transportation is a great idea.  

Embracing eco-friendly transportation options can save you money on fuel costs while reducing your carbon footprint. So consider walking, biking, carpooling, or public transportation for your daily commute or errands. Not only do these alternatives save you money on fuel and vehicle maintenance, but they also help alleviate traffic congestion and air pollution.  

Redirect the funds saved on transportation expenses towards paying off debt, allowing you to make faster progress towards financial freedom while contributing to a cleaner environment. 

Reduce single-use plastics 

We’ve all seen the distressing images and videos of marine life entangled in or ingesting plastic waste, highlighting the urgent need to address this environmental issue.

You can play your part in mitigating the damage by reducing your reliance on single-use plastics wherever possible. Investing in reusable alternatives such as water bottles, coffee cups, shopping bags, and food containers not only helps to minimise plastic waste but also saves you money over time. These funds can be redirected towards debt repayment, aligning your financial goals with sustainability efforts. 

Today’s blog post explored five practical tips for saving money, paying off debt, and reducing your environmental impact.  

How do you incorporate sustainability into your daily life? Share your thoughts, tips, and experiences in the comments below, and consider how your sustainable practices can also contribute to debt overpayment. Every little helps both the planet and your purse! 

Photo Credits: pexels

The post Five ways to save money and pay off debt sustainably  appeared first on Mouthy Money.

UK shoppers could have emitted as much harmful CO2 as 216,000 return flights from London to Sydney this Black Friday, new research claims.

New data from money.co.uk suggests online shoppers will have generated 386,243 tonnes of carbon emissions – the equivalent of 3,679 blue whales – on 26 November alone.

Black Friday has become one of the key shopping dates in the retail calendar, with businesses slashing their prices in a bid to boost sales before Christmas.

But shoppers may not be aware of the environmental damage that their bargain hunting is causing, according to money.co.uk.

To offset or not offset? That is the question

The pandemic caused a boom in online shopping, which is great for convenience but not for the environment.

However, despite the increasing popularity of online shopping, shoppers say they are increasingly aware of the cost their habit is having on the environment – and many are looking to offset the damage.

According to money.co.uk, shoppers aged 18-23 say they would be willing to pay up to £8.84, on average, to offset the carbon produced by their online purchases – more than any other age group.

However, more than one in six (17.3%) UK shoppers admitted that they would be unwilling to pay any additional money towards offsetting the carbon produced.

Find out more: If you’re 18 – 29, we want to hear from you! By taking our quick survey, you’ll be in with a chance of winning a £100 shopping voucher from your choice of Amazon, John Lewis or M&S – plus four £20 vouchers up for grabs too.

What else can you do?

If you are unwilling or unable to pay extra to offset your carbon footprint, what else can you do to be more considerate to the environment during the holiday season?

Instead of buying gifts, buy experiences

Tickets to a concert, an event or even a horse-riding show can be far more valuable presents than the usual scarf, or funky socks you give to family members. That way, your present will be a memory that will hold the test of time, proving its sustainability.

Don’t do same day delivery

Quicker deliveries tend to use more diesel vehicles and be less efficiently organized than slower couriers, creating larger CO2 emissions, according to Climate Lab. Choosing a later delivery date or opt to offset your emissions.

Try repairing your broken things instead of replacing, if possible

Do you have a broken chair in your living room that you’ve wanted to change? How about you add your DYI tools to the mix and repair it? Instead of throwing away and recycling your chair, you can save that piece of furniture with your own two hands and preserve its history, while also choosing sustainability.

Think twice about upgrading

How much better is the latest iPhone than the one you have? Does your TV really need to be 10 inches larger? If it’s necessary to upgrade, then by all means do it. But if not, you might decide to wait a little longer before upgrading. This way you can save the planet as well as your wallet.

Shop locally

Doing your shopping, in person, at a local shop is a great way to lower your carbon footprint. On top of that, it also helps out a local business and boosts the regional economy.

Photo by Thirdman from Pexels

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