How to Save Money on Electricity & Heating Bills: 5 Energy Saving Tips from Study

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Leading savings resource,, interviews top national energy experts and investigates how to save money on electricity during winter months. They discover five tips to lower homes’ energy costs without sacrificing comfort.

How to Save Money on Electricity

How to Save Money on Electricity

Every degree you move your thermostat saves 3 percent on the energy bill.

When the weather outside is frightful, it can inflate heating bills to scary highs, too. In Go Banking Rates' recent savings report, the leading online finance resource investigates heating costs, asking energy experts for their tips on how to save money on electricity and gas. Homeowners and renters trying to keep their abode warm without draining their savings accounts will benefit from these five tips for saving money on winter energy bills.

1. Bump the Thermostat Down – Just a Bit

“Every degree you move your thermostat saves 3 percent on the energy bill," says Kevin Gallegos, Vice President of Phoenix Operations at the Financial Freedom Network, in an exclusive interview with Go Banking Rates.

The average heating and cooling bill for a household is $1,000 over the course of a year, so lowering a thermostat just five degrees could save a household up to $150. With a sweater and some thick socks, most homeowners can be just as comfortable while racking up the energy savings.

2. Seal up Weak Spots Where Heat Is Escaping

"Thirty percent of energy bills float out the windows, especially in vintage, older, single-paned windows," Scott Fischer, a consultant with energy consultancy company Ciel Power, tells Go Banking Rates when asked about his energy saving tips.

Homeowners with older windows could look into replacing them with the better-insulated models that are on the market today. Many energy-efficient windows are quite affordable, and can provide savings on electricity by keeping heat where it’s wanted – indoors. Sealing up cracks or loose holes in a home’s exterior will also keep heat from leaking out of a home.

Click here to read the rest of the report on how to save money on electricity.

About Go Banking Rates is a national website dedicated to connecting readers with the best interest rates on financial services nationwide, as well as informative personal finance content, news and tools. Go Banking Rates collects interest rate information from more than 4,000 U.S. banks and credit unions, making it the only online rates aggregator with the ability to provide the most comprehensive and authentic local interest rate information.

Additionally, Go Banking Rates partners with a number of major media outlets such as Business Insider and US News & World Report to provide compelling and edifying personal finance content, and its expert editors have been featured and quoted on several premier finance websites like Yahoo! Finance, Forbes, The Street, Huffington Post and more. belongs to a network of more than 1500 finance websites, including and These sites receive more than 2 million visits each month.

For questions or comments, please contact:

Jaime Catmull, Director of Public Relations
310.297.9233 x261


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