by Matthew Johnson

Created on: June 08, 2009   Last Updated: January 08, 2012

Saving money in your home or apartment 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. Another option would be to install a programmable thermostat so you can program it to lower the temperature when you leave and raise it back when you get home.

3. 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.

4. 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.

5. 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 the energy and one-sixth the water used when hand-washing dishes. They also use less soap.

6. 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.

7. 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.

8. Turn off the lights.

Leaving a light on in the kitchen when you are in the living room wastes electricity. It may sound obvious, but you can save a lot of money by turning lights off when you leave a room.

9. Winterize your windows

Windows account for 30% to 40% of heat loss in a home. During the winter, placing clear plastic sheeting or shrink-wrap over your windows prevent drafts from cooling off your home and keeps your heat inside.

10. Get rid of your landline.

Owning a cell phone and a landline phone is a redundancy that can cost you unnecessary money. By using your cell phone as a primary phone, you can eliminate your landline phone bill completely.

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