Can Switching to Veganism Save You Money?

Depending on your circumstances, you may be able to save money by going vegan. However, breaking down the costs, it’s probably not worth it. Instead, you could save money each month through a debt solution:

Veganism is perhaps one of the UK’s fastest-growing movements. In fact, it’s believed there are around 600,000 vegans across the country. People choose to join this group for a variety of reasons, mostly related to animal or environmental concerns. However, some decide to become vegan because – apparently – it’s cheaper than traditional diets. Is there any truth to this?

If you’re eating meat at the moment…

If your diet currently includes eating meat, then it’s believed switching to veganism could cut about £21 off your monthly grocery bill. This works out to around £250 per year. According to a study published through the BBC, this could be due to removing protein (via meat and cheese) out of a diet.

By switching to vegetables instead – or plant-based alternatives – the price of your shopping bill should decline.

If you’re currently a vegetarian…

For vegetarians, on the other hand, switching to veganism could become more expensive. In fact, the study suggests the price of your monthly grocery bill might increase by around £11. The reasons for this aren’t clear. However, because meat has already been cut out of the diet, it’s possible the dairy alternatives come with additional cost.

There are better ways to save money

If you’re converting to veganism because of ethical concerns, those are good reasons. However, if you’re looking to save money, there are better ways. After all, £21 is not a lot of money. In fact, some would argue it’s a steep price to pay for completely changing your diet.

Instead, if creditors are chasing you for money you don’t have, why not consider something which will make a measurable impact? Why not consider a debt solution?

Get financial control through an IVA

Switching to veganism could save you a few pounds every month but an IVA could potentially save you more. A debt solution, this stops creditor contact, freezes interest rates and charges, and leaves you making one affordable payment each month. As an added bonus, once the IVA ends, any debt you owe is written off.

To find out if you would benefit from an IVA, click the button below: