There are many ways to reduce costs in our every day lives, so to help do just that each Monday I will post a money saving “Tip of the Week”.

“And he said unto him, Well, thou good servant: because thou hast been faithful in a very little, have thou authority over ten cities.” Luke 19:17

This weeks tip involves…reducing your Hot Water Heater costs.  This post is coming about 5 days late, but better late than never!

The following post will deliver 4 inexpensive and easy to implement ways for you to significantly reduce your hot water heating costs.

Tip 1 – Turn off hot water heater

You can employ this tip regardless of whether you have a gas or an electric water heater.

What time of day does your family hit peak water usage?  If you are like most American families it is probably some time in the morning hours.  For my wife & I, the only time we really need hot water is around 7am during morning shower time, so here is what we are going to do and what you can do too!

• Manually turn our gas water heater down to “Vacation” before we leave for work in the morning.
• Keep it turned down all day.
• Turn it back on right before bed time, so it can provide us our hot water again for the next mornings showers.

Tip 2 – Install an electric water heater timer

If you are like me and have a gas water heater this is not a viable option for you because of the pilot light system.

If you have an electric water heater you can install this inexpensive & highly rated automatic electric water heater timer.  Also, according to this quote from EnergySavers.gov you may be able to work with your local utility provider to reduce your costs as well:

“Contact your utility to see if it offers a demand management program. Some utilities offer “time of use” electricity rates that vary according to the demand on their system. They charge higher rates during “on-peak” times and lower rates during “off-peak” times. Some even offer incentives to customers who allow them to install control devices that shut off electric water heaters during peak demand periods.”

Tip 3 & 4 – Insulate your hot water system

• I installed an insulation blanket around my hot water heater – This blanket was easy to install, cost only $10, and will pay for itself in energy savings in a few months time.

• I insulated the hot water pipes in my basement – This was also a very inexpensive and easy project, and one that will deliver hot water savings for the entire time I am in my home.

Are there other simple & inexpensive ways to reduce hot water costs that I have not mentioned?  Let us know in the comments!

Click here to see all our past DFA Tips of the Week.

DFA is passionately dedicated to helping others break the bondage of debt using biblical principles.