Everyday Money Management

Save Energy, Save Money

Did you know that the average U.S. family spends close to $1,300 a year on energy bills? That’s according to the Department of Energy (DOE), which warns that, unfortunately, a lot of that energy is wasted.

Following are tips for cutting energy costs in your home. With changes, you may be able to save a little money, or perhaps even cut your energy costs in half! Best of all, many of the tips in this booklet won’t cost you a penny.

If you have a family, energy conservation can be a great family project, offering you a terrific opportunity to teach your kids about budgeting and the wise use of natural resources. You can even turn it into a contest and try to get your family to cut energy costs by a certain amount for several months. The savings can go toward a family outing or purchase. Get creative!

Heating and Cooling Your Home
Heating is the largest energy expense in most homes, accounting for almost two-thirds of annual energy bills in colder areas of the country, according to DOE.

Here are some ways to keep your house comfortable without draining your wallet:

Insulate:
Want to cut your heating and cooling needs by up to 30% and make your home more comfortable in the process? That’s what proper insulation can do for you. Attic insulation is usually the most effective because the attic is one of the largest sources of heat gain. Insulation is measured in R-values. The higher the R-value, the better your walls and roofs will resist the transfer of heat.

Learn how much insulation you should have for your home (based on your zip code and other information about your home) at http://homeenergysaver.lbl.gov/hes/makingithappen/tips.html

If you do need more insulation, your electric company may provide rebates or incentives for adding insulation to your home. At a minimum, it often will provide a list of qualified contractors in your area. Contact your local electric company for more information.

Plug The Leaks:
Money could be leaking right out of your doors and windows if you have cracks or holes that lead outdoors. You can test this by using a lit incense stick on a windy day. Hold it in front of windows, doors, electrical boxes, plumbing fixtures, electrical outlets, ceiling fixtures, attic hatches, or anywhere else that air may be leaking outdoors. If the smoke is moving sideways instead of upward, you probably have a leak. Caulking or weatherstripping can make the area airtight and save energy. You can also purchase inexpensive foam insulation that can be sprayed into cracks.

Don’t Forget: If you have a fireplace, make sure the damper is kept closed when it’s not in use.

Free Is Good:
Many local power companies offer a free energy audit where they will come to your home and suggest ways you can save energy. Ask!

Time It Right:
Get a thermostat that you can program to adjust the temperature at certain times when your need for heating or cooling isn’t as great. For example, if you are at work during the day, you can set the daytime temperature higher (in the summer) and cooler (in the winter). Same thing goes at night when you are sleeping. (Just don’t program large changes in the temperature or the system will have to work too hard to get the temperature up or down at those times.) Also be sure to keep lamps and other heat producing appliances away from the thermostat, or it will result in a misreading of the air temperature.

Cycle Off:
Some electric companies will give you a discount if you allow them to briefly cycle off your heating or air conditioning during peak times of the day. Other electric companies charge less for electricity used during “off peak” rather than “peak” times. You can time tasks like drying clothes or running the dishwasher for those times. Ask your energy company for details.

Get Sneaky:
Try adjusting your regular home temperature by a degree up or down (depending on the weather) until you get used to the new warmer or cooler air. Then try another degree the following week, and so on, until you’re really uncomfortable.