Alex McAdams – 5 Things You Should Know About Lowering Your Heating Bill

We roll out a new segment this week called “Five Things You Should Know About…”. With the bone-chilling weather hitting the country, we thought it fitting to offer tips on lowering your heating bill. Alex McAdams, personal finance analyst for NerdWallet.com, offers his advice.

Top Five Tips for Lowering Your Heating Bill

1. You can save money on your heating bill without ever spending a dime

There are plenty of ways you can cut down on your heating bill without shelling out big bucks. For example, clearing the space around heating vents so they can heat the whole room. Or wearing a sweater and warm slippers around the house can keep you comfortable while running the heat less.

2. The thermostat is your friend

Lowering your thermostat temperature by just 1 degree can help you save upwards of 3% on your heating bill. Try setting the temperature lower when you’re out of the house during the day, or at night when you’re snugly tucked into bed. You can also adjust the “swing” setting, which determines how far away the temperature in the room is allowed to be relative to your set temperature. A bigger swing means less switching on and off, which allows your heater to run more efficiently.

3. A well-maintained heater will save you money

Making sure your heater’s maintenance is up to date (in most cases, a check-up each year is a good bet) is a great way to ensure you’re not wasting energy. Replacing air filters to allow easy flow of heated air is another great place to start. In both cases, a few minutes of effort can save you lots of cash on a yearly basis.

4. Drafts and cracks are the enemy

There are many places in your home for cold to get in and heat to leak out. By addressing these issues, you can save a boatload on heating. For example, adding a special layer of plastic film to your windows (available at most hardware stores) creates an extra layer of insulation and can save you almost 15% on your heating costs. Knock out pesky drafts and leaks by ensuring your windows are properly caulked, your doors have a solid weather seal, and your chimney’s flue is closed. You can even get a “chimney balloon” to help seal in heat.

5. Put heat where you need it

Close heating vents in rooms where you don’t regularly go—it will help drive heat to rooms where you spend your time. If you tend to spend most of your time in just a couple of rooms, consider using a space heater instead of running a heating system for the whole home. If you regularly use a fireplace, you can use aluminum foil to create a dish that helps radiate more heat into your living room instead of being lost out the chimney.

To read Alex McAdam’s full article on lowering your heating bill, visit NerdWallet.com.