As a parent instilling the values of environmental responsibility and financial literacy in my children has always been a priority as this was something I didn’t get much of when I was younger.
Recently, we had the opportunity to explore the new Victorian Container Deposit Scheme (CDS Vic) which not only promotes recycling but also provides an exciting way to build up savings for the future.
It was launched on November 1, 2023 so we’re a bit behind but so is our state Victoria who just launched its Container Deposit Scheme, known as CDS Vic. The Government is aiming to revolutionise the state's waste and recycling system. This initiative offers a 10 cent refund for every eligible drink container returned including cans, cartons and bottles.
The scheme has far reaching benefits like enhancing recycling efforts, reducing waste, minimizing litter, creating job opportunities and supporting charitable organisations and community groups. As you can opt to donate your refund to a charity or community group that has registered.
One of the great aspects of CDS Vic is the use of a dedicated app called VicReturn. This app, managed by the scheme coordinator facilitates the financial returns of the scheme. For families like mine, this app serves as a valuable tool for not only tracking our recycling efforts but also building a financial nest egg over time.
Using the app is straightforward. First, we registered on the platform providing necessary details and linking our bank account for seamless transactions. The app not only allows us to locate nearby refund points across Victoria but also provides information about eligible containers ensuring we make the most of our recycling efforts.
Armed with a couple of drink containers my children and I set out to our nearest refund point to give it a shot. The process was surprisingly simple and quick. Just scan your barcode and the machine adds the balance to your account. No fuss
Building a Financial Future from Waste
The financial incentives provided by CDS Vic and with the convenience of the VicReturn app make recycling an exciting prospect for families like mine. By regularly recycling our bottles the scheme helps my children not only learn about the importance of recycling but also witnessing the accumulation of savings.
This hands on experience fosters financial responsibility and teaches them the dual benefits of environmental stewardship and economic prudence.
We will definitely be saving our bottles more often and placing them in every few weeks and help build our kids nest egg for the future!
Do you have things like this where you’re from? How do you recycle and does your government provide financial incentives for doing so? Let me know your thoughts in the comments section below.