Our imprint is now truly global. Our impact is now truly profound. Our blind assault on the planet has finally come to alter the very fundamentals of the living world.

—David Frederick Attenborough in A Life On Our Planet

If you’ve watched the 2020 documentary, narrated by the inimitable Attenborough, broadcaster, biologist and much more, chances are, you would have a rush of guilt about your carbon footprint.

For some, the anxiety may get settled by switching to cloth bags for that trip to the vegetable vendor and the local grocer. Checking the number of energy-efficiency stars while buying any consumer durable item may add to the satisfaction. Some others may consider switching to solar panels and electric vehicles (EVs) but the initial cost of doing that can be inhibiting.

With EVs becoming part of the chatter, at least in the metros, we thought it’s time to look at how the cost weighs against petrol and diesel cars, especially when fuel prices are going through the roof. EVs are a clear winner when it comes to monthly running costs, but we stumbled upon some surprises when we analysed the total cost of ownership.

Climate change is real. And if EVs are your way to addressing that worry, be ready to make some compromises and spend extra. The lack of infrastructure and the wait for better technology can be dampeners, and so can be the maximum yearly difference in the total cost of ownership between an EV and a petrol car that is about `7.4 lakh.

But if you would rather save on the extra cost and wait for technological advance-ment, you can do your bit for the environment by introducing simple changes in your lifestyle. It could be using public transport, cutting down on bottled beverages, or trooping into one air-conditioned room for work instead of using three different spaces. Each of these can also cut down your expenses by a big margin. Sample this: using the metro services in Delhi can cut down your commuting expenses by more than half, depending on your place of work or study. Similarly, switching on one AC instead of three could reduce your monthly electricity bill substantially.

All of these, including buying an EV, may need to be balanced with your need for comfort and sense of fulfilment. Making such choices is never easy.

It’s also time for equity investors to make a choice as the ongoing bear phase in the equity market could be the perfect opportunity to invest in quality stocks and sectors with potential. The market is behaving the way it is because of challenges such as high inflation and consequently rising interest rates. The pockets of opportunity in the real estate sector may soon close as prices are set to go up and home loan rates are rising already. Experts predict more pain in terms of costlier loans with the Reserve Bank of India indicating that the high interest rate regime is expected to continue.

For many of us, homes are the biggest asset we seek to build in our lifetimes. This is even more so for the LGBTQ+ community as owning a home could smoothen the most basic need of being able to live on their own terms in their own space. Unfortunately, they are among the communities that still face hurdles in finding leased accommodation simply because of their identity. Apart from that, among the bigger struggles LGBTQ+ face is planning for their loved ones. The lack of a legal framework around partnerships can leave relations tentative and vulnerable on the financial front. A little sensitivity, from the society as well as the financial industry, can go a long way in empowering individuals with vulnerable identities.

Nidhi Sinha
Editor­, Outlook Money
nidhi@outlookindia.com