Simple Ways To Save Money and The Planet With Sustainable Products

Sustainability has become a big buzz word in the consumer world over the last few years, and rightly so. Sustainable products are created in order to serve a purpose whilst also minimising damage to the environment. Due to this, they are usually reusable, meaning from a consumers perspective you will need to buy products less often and therefore, save money. This is a fantastic way for environmentally conscious people to do their bit for the planet whilst also saving themselves money. Let’s walk through some simple swaps you can make throughout different areas of the house. 

Bathroom

  • Shampoo, Conditioner and Soap Bars – this plastic free alternative to heavily packaged products will reduce plastic consumption considerably. Organic bars contain far more natural ingredients that are much better for your skin and the environment. You will also find you are purchasing these products far less often than you would normal bottles of product as they last far longer. 
  • Reusable Cotton Pads – rather than throwing away single use cotton pads, you can purchase reusable and washable pads which last for years and years. You can either hand wash them or put them into the washing machine on a normal wash. Prepare to save plenty of money as you will no longer have to replace your cotton pads after the initial investment. 
  • Bamboo Toothbrushes – switching to bamboo toothbrushes will ensure that the amount of pollution and waste going into our oceans is reduced. When the time comes to change your toothbrush, the bamboo material is completely biodegradable. 
  • Reusable Sanitary Products – the amount of plastic in any disposable sanitary product is unbelievable. Significant amounts of waste is produced over the course of a year from just one person’s period. Luckily, there are eco-friendly alternatives available. You can use sanitary cups or washable underwear which can both simply be washed and used over and over again for years on end. 

Kitchen

  • Coffee Cups – 166 billion paper coffee cups are used each year which are responsible for 6.5 million trees being cut down and 4 billion gallons of water being used. Most coffee shops will happily accept reusable cups, so take your own cup and ask them to fill it with your favourite drink. Many coffee shops are now introducing initiatives to encourage customers to bring their own reusable cup so it is definitely worth doing. 
  • Water Bottles – similarly to single use coffee cups, plastic water bottles are responsible for a horrific amount of waste each year. So, make sure to always carry your own reusable bottle. Making a habit of taking it out with you will reduce your environmental impact and also save you significant amounts of money when you aren’t buying a bottle of water everyday. 
  • Beeswax Wrap – cling film and plastic sandwich bags are other single use items that can easily be avoided. Beeswax wrap is a reusable alternative that can easily be shaped around any product as the warmth of your hands gently moulds the wrap to keep it in place. You could wrap sandwiches or easily cover food packets. Again, these wraps will last for years and are mostly biodegradable and compostable.

Nursery 

  • Baby Washcloths – as a parent, you are likely to use countless amounts of wipes each day for all sorts of things that will go straight in the bin. Although you can get biodegradable wipes which would be useful for when you’re out and about, try to use reusable baby washcloths when you are in the house. You can use them to clean up after meal times, crafts or they can be used in the bath. They can either be quickly rinsed or washed properly in the washing machine. You will save huge amounts of money on wipes whilst also helping the environment. 
  • Bamboo Nappies – using reusable and washable nappies would be ideal but it is completely understandable if this isn’t possible or practical for families. So, you can get biodegradable nappies which are far more gentle than normal nappies and they are also completely biodegradable, making them much more friendly for the planet. 
  • Coverall Bibs – a simple way you can save yourself time and money is to invest in coverall bibs. Rather than changing your baby’s outfit after meal times, you can simply pop on the coverall bib which will cover all of your child’s body and arms. You can then slip it off after meal time or crafts, give it a wipe and it is ready to use again. In the long-run you will save a lot of money on energy as you won’t need to do anywhere near as much washing! 
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They are least likely to seek professional financial advice under the age of 35

People under 35 years of age are at least likely to seek professional financial advice. According to the new Hodge search, only 20% said they had previously sought advice from the IFA.

Family and friends are the biggest source of financial advice for those under 35, according to the survey, which asked more than 3,000 people about their attitudes toward finances. 70% of this age group say this is where they seek advice.

In contrast, the number of people seeking financial advice from the IFA doubled to over 40% for people over 55. The number of people in this age group who consulted their family and friends about their finances has fallen to 53%.

Emma Graham, Director of Business Development at Hodge, said, “The study shows that family and friends have a tremendous influence on all generations of financial matters, especially the younger generation. However, it is important to remember that well-meaning personal views or experiences are not always means good advice.

“Seeking advice from family and friends is the most subjective form of guidance because loved ones often have thoughts or opinions about how to live life that don’t always go along with your own plans.

“Having independent advice from a qualified and experienced financial advisor will not only ensure that you receive objective advice that takes your personal circumstances and plans into account, but you will also get tangible benefits from accessing their experience and making these important decisions with confidence when met when you meet them when You know this. You have considered and weighed all of the available options. “”

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Half of UK finance workers want to change careers because of the pandemic

The coronavirus pandemic has seen workers in the UK financial industry consider career options. According to the new report, 44 percent are considering moving.

Of urban workers seeking change, 13% said they would like to leave the sector as a whole. According to a KPMG study and the Financial Services Skills Commission (FSSC), that figure increases to 16 percent for ages 18 to 30.

The coronavirus pandemic has rattled the UK job market. Data earlier this month showed the country had lost nearly 750,000 jobs since the blockade began in March.

Britain is also facing constant changes in the way people work. A BBC survey of 50 major companies yesterday found that none of them plan to bring all employees back to the office full-time anytime soon.

KPMG and FSSC asked more than 600 tax officials in July whether the coronavirus pandemic has caused them to change careers and 44% said yes.

The weather outside the office is changing

Karim Hadji, Head of Financial Services at KPMG, said, “Since we spend more time at home away from our colleagues and offices, it makes sense that many people question their current roles and decisions.”

About a third – 31 percent – of workers said they were looking for new roles that would dry up or come out of finances by the end of the year.

15% of those who wish to leave funding cite long working hours as the reason. About 13% of people are now blamed for the long commute.

Hadji said finance must dispel certain beliefs about the sector, including that it has “a conservative employee policy”. However, he said “some work is being done” sparked by the pandemic.

Claire Tunley, CEO of the Financial Services Skills Commission, said, “This sector has a real opportunity to learn from the pandemic’s experience to create a better workforce built on an existing reputation for good pay and promotion.”

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Changes in flows in project financing

Project finance and cash flow remain major challenges in this crisis as construction companies not only in the UAE but around the world question their viability in the coming months.

Lack of financial and accounting discipline from associates generally exacerbates their struggles to go bankrupt in times of economic downturn. The well-known “need for credit,” which is generally structureless, has plunged many contractors into such a difficult cycle.

Due to the Covid-19 pandemic, ongoing projects were put on hold due to disruptions in the supply chain. Productivity is affected because contractors on site follow social distancing guidelines. Operating costs have increased as money has been diverted to reduce the risk of the new coronavirus.

Meanwhile, developments at an early stage have struggled to increase debt as originally envisioned by the project sponsor. As a result, several projects were postponed or canceled entirely.

Effective communication

The communication channels between construction companies and their creditors are becoming more important than ever. This communication needs to be open and focused on the desired end result that will protect the interests of both parties and allow the project to be completed by hand with the best possible outcome.

Restructuring of existing credit lines to accommodate the tidal changes is necessary so that contractors and their projects can survive. Today’s banks are very pragmatic about getting this desired result.

Fence with rings

One of the observations that lenders made during the 2008 financial crisis and the current pandemic crisis is that contractors who limit cash flow from their projects tend to perform better and increase funding for the project more quickly.

This is where the contract finance model appears, the term used by creditor banks. The model depends on the “what”:

The project’s first cash flow
Project implementation plan
A legal contract that describes scope, time, costs and responsibilities
After analyzing the above, the necessary financial instruments or “how” are structured:

Guarantees will be provided by contractors (bank guarantees for performance, prepayments and retention)
Procurement requirements, whether material or equipment (credit note)
Temporary cash flow deficits due to lengthy costs and receipt of payments by the project owner in accordance with the terms of the contract (short-term loan or overdraft)
For ring fencing to work, all payments made or received must be in a specific bank account which will only be used to complete this project. After completing the project, the account will stop functioning.

The communication channels between construction companies and their creditors are becoming more important than ever
Such an agreement requires the contractor to distribute proceeds to the accounts of the lender and the project owner for confirmation and acceptance to ensure that payments are only made to project-specific accounts. However, the refusal of some project owners to assign project assignments made it difficult for contractors to ensure proper cash flow funding from their banks.

Based on the above model, the bank will endeavor to support the completion of the project as much as possible, which will result in a guarantee return and termination of the engagement. The bank offers assistance if the source of payment is clear and unambiguous. They provide more assistance when payments are made and credited to project accounts.

This agreement also helps the contractor and their finance team maintain fencing project discipline and avoid the inconvenience associated with having funds on a specific project to attract other tough projects, ultimately leading to failure of the first project.

When the music stopped, the projects suffered greatly from a lack of new flows to cover previous withdrawals outside the project cash flow.

Hence, it is an ecosystem that must be in place if we are to protect and enhance the performance of this very important industry. All parties need to be aware that nothing can work in isolation and that the failure of either party is the failure of the project.

time for a change

Now is the time to build on this practice and work with regulators to facilitate a mandate to allocate project funds to guarantee banks. It is time for us bankers to rethink the burdens we have placed on contractors: canceled contracts, overdue certificates, and the amount, text and duration of bank guarantees under the project.

These are the real decisions we have to make to solve the real problems that hinder the development of this industry: writing fairer contracts; Promote the use of technology; and build sustainably. Now is always the best time to change.

In the future, any planning after the project should lead to a possible second wave of the Covid-19 pandemic. We all hope we don’t face such calamities again, but when they do we need to be prepared for them. Learning from the current crisis is the most important outcome of our current situation.

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