Jevon’s Paradox

You’ll achieve significant financial savings by practicing the tips and tricks from our podcast series. But it’s important to not fall victim to Jevon’s Paradox, which could make you spend even more money than you did before you implemented our podcast advice. Check out this episode to learn more!

Most of the concepts we have discussed throughout this podcast series can be applied to both personal and workplace settings. By transferring our podcast tips from home to the workplace, companies can save money on their utility bills, food offerings and waste, business travel, and more. 

You can save a lot of money with these simple rules: live smaller, live closer, and live with others. Smaller housing spaces save money on utilities and material possessions; living closer to work and social centers saves money on transportation; and living with others splits costs over multiple people.

If you could live with only 100 material possessions, what would you choose? It’s important to be aware of what and how much you own, so you can decide what you really need. If you are intentional about your purchases and buy only what you need, you have the potential to save a lot of money. 

The average American household spends $1,800 on clothes every year. The average American spends $650 on jewelry and buys 6 new pairs of shoes every year. You can save money on clothing, shoes, and jewelry by purchasing fewer items, buying durable items, and enrolling in rental programs.

In the US, we send hundreds of millions of pieces of mail per day. Across the globe, we send hundreds of billions of emails per day. Mail and packages are expensive to ship and dispose of in landfills, and emails are expensive to store in data centers. You can save money and time by cleaning out your junk mail and your email account.

The average American uses over 700 pounds of paper per year. The US spends over $470 million every year on paper just for school work, and the average American uses over 50 rolls of toilet paper per year. These costs can be reduced by reusing scrap paper and limiting your paper use.

The average American spends over $1,200 on prescription medication and $100 on dietary supplements every year. It’s important to spend money on medication and dietary supplements that maintain and improve your health. You can reduce these expenses by eating a healthy diet and exercising daily.

The average US household spends over $700 per year on personal care products and services, and the average person also pays over $700 per year on dental care. You can reduce these expenses by using smart and effective hygiene habits, like air drying your hair or decreasing how often you shave.

This interview with Caroline Ling (Stanford University MBA/MS) takes a closer look at some of the topics we discussed in our episode called Your Trash. Caroline reviews some tips for proper disposal of trash, recyclables, and compostables to help you reduce how much you pay for waste collection.