Do a Home Energy Audit

Cost Savings: Up to $570

The average U.S. household spends $1,900 on energy bills, and much of that energy is wasted. Most homes, particularly those not built recently and to Energy Star standards or better, can benefit significantly from simple improvements that can pay off significantly. Making standard efficiency improvements on an inefficient home can save as much as 30%, or $570.

For instance, caulking cracks, sealing windows and ducts, and using draft snakes can save up to 10% on heating and cooling costs.

Installing a programmable thermostat and using it to cut the heat in wintertime while you're off working or fast asleep can save up to 10% too.

Adding insulation to ceilings, walls and attics can save up to 30% on heating and cooling costs, and while it will cost more to invest in insulation than in caulk, there are home tax credits available to soften the blow.

But how do you know which improvements are most cost-effective for your home? Do a home energy audit, or hire a contractor to perform one for you. Check with your local utility or state energy agency, because there are incentives that will significantly cut the cost of such an assessment for most homeowners.

Related: Complete Home Energy Makeover