The Hidden Financial Cost of Not Returning Your Bottles.

The Hidden Cost of Not Returning Your Bottle

Apr 22, 2020

The Hidden Financial Cost of Not Returning Your Bottles.

If you’re trying to save up for something like a vacation, a concert, or a college fund but don’t know where to find that extra cash flow, we’ve got a secret to share. Did you know that the average family of four consumes enough beverages (think: milk cartons, pop, beer and liquor bottles) to equal $151.00 per year?! Now that’s information you can take to the bank!

You might be thinking, “That’s not a lot of money, so why should I return my bottles?”

Empty bottles sitting around the house have no gain for anyone. They cause clutter, smell, and most importantly, they cause you to lose money. If you invested that $151.00 per year, just by returning your empties with a typical interest rate, that money would grow to create a long-term financial benefit for your family.

Don’t believe us? We ran the math. Investing $151.00 per year with the standard interest rate would grow to be $2,775.91 in 18 years. Start the year your kids are born and you can cover a semester at college just by returning your empty beverage containers!



Read on to see how investing your bottle return money can be saved up to pay for special events in your life. 

Vacations

Whether you are planning a weekend getaway to the mountains, sitting on a tropical beach somewhere, or just planning a staycation, you could use your recyclables money to enjoy a much-needed vacation. $151.00 saved up for even three years it would yield a return of $437, which is about the cost of a domestic plane ticket. Saving up for another year could score you a plane ticket to somewhere outside of Canada.

Even if you already have some money saved up for your dream vacation, $151.00 invested over a few years can provide you with the funds necessary to purchase a ticket to a music festival, backstage passes to a concert or even a sports game. These memories are worth a lifetime and can be attained with your work as an environmental hero!

Investing in an RRSP

Investing in a Registered Retirement Savings Plan (RRSP) is a beneficial savings tool that helps you save money – tax-sheltered! – over your working lifetime by lowering your tax bill. By investing $151.00 per year with an interest rate of your choosing, you can save up your empty beverage container return money to contribute to buying a property, saving for school, buying a car, or any big purchase that you want to make. The earlier you start investing into an RRSP, the more money you have over its lifetime – all sheltered from tax (until you withdraw the funds).. 

Over time this investment adds up to help you save and the best part is it doesn’t cost anything to start one. All you have to do is gather up your empty cartons and bottles and bring them to East Hills Bottle Depot to get money for your first investment. What could be more simple and rewarding than that?

Saving up for Your Child’s College Fund

If you are a family with small children, returning your empties could be essential for their future. If you started saving the money you receive on your empty beverage containers now, you will have enough to cover some of their post-secondary education bills. $151.00 can pay for one college textbook, but $151 invested into a high-interest account over 18 years would pay out $3,373! That’s almost enough for one year of post-secondary education. Nothing will make them, or you, happier than being able to see them follow their dreams of going to school. 

Save for a Rainy Day

Even if you aren’t saving for something like a vacation, college fund or property, having some extra cash stashed for leaner times is beneficial. Given the uncertainty with COVID-19 right now, pumping up your savings is a no-brainer. Whether you are saving for a slush fund for fun nights out with friends, or you just want a safety net for challenging times, this investment will help with that. There really is no downside to taking advantage of the opportunity to impact the long-term happiness that can come from returning bottles.

No matter how you choose to save up your money from your bottle refunds, it’s important to remember to return them to East Hills Bottle Depot. Join our community on Facebook,Instagram and Twitter to stay up to date with East Hill Bottle Depot news, events and tips!

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