Living Green and Saving Green...affordably: Your Water Heater

With the ecomony and the environment being such "hot" topics in the media and at the water cooler, I've decided to start a new segment about living green affordably. Not everyone can afford to install solar panels, but there are some easy things that you can do now to help make a difference tomorrow...in your life and in your wallet.

Let's begin this new series with the simplest thing you can do in your own home. It requires no additional money or special trips to the hardware store...just you and your flashlight and a short visit with your water heater.

Time to implement: 5 minutes

Maximum cost: optional $20 for water heater insulation blanket

Most homeowner's should keep their water heaters at 120 degrees farenheight. Anything higher than that and you could run the risk of serious burns. If your heater has a low, medium, high setting, keep it on medium. If you find yourself having to add cold water to the hot water, then it's probably too high...turn it down.

For each ten degree reduction in temperature, you could easily save between 3 to 5 percent in energy costs.

But don't stop there! An insulation blanket around the outside of your heater can save you some green in the long run too. For $10-20, you'll reduce standby heat losses by up to 45 percent and save you up to 9% a year in water heating costs.