Energy Saving Tips from Money Magazine (and one from my dad)

by Rocket Finance

This month’s issue of Money Magazine offers several ways to save money by reducing energy costs. Many of them are things we have heard before, but it doesn’t hurt to go over them again since all energy costs are rising quickly.

#1 Upgrade your heating and cooling equipment. This can be very expensive when you are talking about your heater or central air, but replacing your hot water heater doesn’t cost all that much and can save a lot of cash. Many hot water heaters and furnaces that are more than a decade old, are as little as 50% efficient. I never knew what that number meant before, but Money states that if your furnace is 50% efficient, then over half the fuel that you use is wasted! Modern heating and cooling appliances can be as efficient as 96%. A water heater blanket (piece of insulation that goes around the hot water heater) can save $30 to $50 a year.

#2 Patch leaky ducts. Simple, cheap, but labor intensive. Money claims that you could save as much as 20% on your heating bills by using tape on heating ducts.

#3 Seal around outlets, windows, etc. We hear that one all the time. Supposedly it can cut heating bills by 10%.

 #4 Add insulation. Good idea, but can be expensive for older homes and most homes nowadays are already insulated.

#5 Smart Power Strip. Our family will be using this suggestion soon. A smart strip only allows electricity to flow when the device that is plugged into it is running. It can save up to $30 per year.

Here is an additional suggestion that my dad used to employ to help reduce energy usage: charge a dime everytime one of us kids left a light on in a room and then walked out. YMMV on that one, but it worked for us – inflation has probably increased that fine to at least 50 cents. 

  1. 2 Responses to “Energy Saving Tips from Money Magazine (and one from my dad)”

  2. By Birney Summers on Sep 22, 2007 | Reply

    Your ideas to reduce energy used for home heating are especially needed this winter for folks who heat with Oil or Propane. Prices are hitting all time highs already and the cold weather has not yet arrived.

    Energy Boomer

  3. By admin on Sep 22, 2007 | Reply

    lots of sweaters. . .

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