Tips on Saving Energy, Money

Oct. 7, 2008 — -- Ramping up energy saving efforts to stave off the higher costs of energy can be simple and easy. "Good Morning America" contributor Wendy Bounds gives you tips on how to cut costs and energy below.

If you have a standup freezer, you may want to consider swapping it for a chest freezer because a chest freezer generally consumes 10 to 25 percent less energy.

And it saves you money, because, when you open it, the cold air doesn't just spill out like it would in a standup freezer. It stays in the bottom.

Find out how much you'd save by trading in your old model at recyclemyoldfridge.com. In my case, I'd be able to cut between $30 and $77.

If you have a new appliance that's working well, though, don't just dump it. Look at making a switch at the end of its life cycle. That's when it's most cost effective.

The second thing you need to know about saving energy is that, no matter what appliance you're considering buying -- a freezer or anything else -- always look for the energy star symbol on it.

Energy Star appliances use between 10 and 50 percent less energy and water, and that can save you a lot of money.

Most people don't realize that the average electric dryer is an energy hog. It is by far one of the biggest energy consumers in the house.

A way to get around that is to dry your things on a clothes line. I know that sounds pretty depression-era, but you really can dry your clothes easily.

If you want to do it inside, you can use a drying rack that easily folds up and goes into storage when you're done with it. They're only around $30.

If you want to dry your clothes outside, you can use a retractable line, which goes from around $100. I use an indoor rack and it will probably save me around $50 this year.

Another way to cut back on energy spending is to make sure you dial back the washing temperature. Most clothes can be washed on cold or at least on warm. That will also help you make some real savings.