by Matthew Johnson

Created on: June 07, 2009   Last Updated: May 23, 2010

Finding ways to save money in your home may seem like a difficult task to undertake, but by following the 10 easy steps listed below, you can save yourself a lot of money in the long term.

1. Close the flue in winter.

If you have a fireplace, a lot of heat escapes up the chimney in winter. You can minimize this by closing the flue when the fireplace is not in use.

2. Turn down the thermostat in winter and up in the summer.

Adjusting your thermostat down as little as two degrees in the winter and up two degrees in the summer can save you 1%-3% of energy costs for every degree you drop in winter and raise in summer.

3. Insulate the attic and crawl spaces.

One easy way to tell if you are losing heat through your attic is to look at your neighbors' homes. If the snow on your roof is melting faster than the snow on your neighbors', it's a good sign that you have inadequate insulation.

4. Unplug electrical appliances not in use.

Even when your electrical appliances are off, they are still consuming energy. According to a Berkeley study, unplugging your appliances when they aren't in use can save you from 6% to 26% on your total energy bills.

5. Use compact fluorescent light bulbs.

Using compact fluorescent light bulbs (CFLs) instead of incandescent light bulbs can save you a lot of money in the long run. CFLs consume 75% less energy than incandescent bulbs and last about 10 times longer.

6. Use an on-demand water heater.

Most water heaters work to maintain the water temperature in the tank at 120 degrees. This constant heating can waste a lot of energy. Purchasing an on-demand water heater, also known as a tankless water heater, can cut your heating expenses by 30%.

7. Use your dishwasher.

Surprisingly, using your dishwasher is actually more cost-effective than hand-washing dishes. According to a University of Bonn study in Germany , modern dishwashers use only half of the energy and one-sixth of the water used when hand-washing dishes. They also use less soap.

8. Air-dry clothes.

Using an outdoor clothesline lets you dry your clothes with no energy at all. If you live in an area where you cannot have an outdoor clothesline, there are a wide range of drying racks available so you can air-dry your clothes inside your home.

9. Open windows instead of using AC.

Opening your windows takes advantage of cross breezes that can circulate cool air through your home. Reducing AC use to only when truly necessary will save you lots of money in the long run.

10. Low-flow shower heads

The average shower head uses 5 gallons per minute. Low-flow shower heads cut that in half by increasing the water to air mixture, giving you the same pressure while using the half the water. Low-flow shower heads can be found at most hardware stores.

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