Record temperatures cause spike in heat costs

Lowering thermostat levels by just 1 degree can lower your bill.
1:38 | 01/02/18

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Transcript for Record temperatures cause spike in heat costs
We're going to turn next tonight to your money, and we're not suggesting lowering your heat in the middle of this frigid cold spell, but when it's not quite this cold, how much can you save by lowering your thermostat by just one degree? ABC's chief business correspondent Rebecca Jarvis out to save your money tonight. Reporter: Tonight, with that arctic chill gripping much of the country, the cost of heating your home could soar as much as 32% this winter. So, how can you keep your costs down and your home warm? One of the simplest things we can do is simply replace the existing incandescent bulbs with L.E.D. Let free fit kits. Reporter: Kits will keep warm air from seeping out of the house. Consider weatherproofing your doors and windows. And lowering that thermostat just one degree can save you 5% on those heating costs. Last season, we caught one the friedmans of ridgewood, new Jersey, who wanted to cut their bill. You have a beautiful home. Thank you. Reporter: Energy expert Scott fisher found cool air pouring in. The family replacing the bulbs, sealing off windows and adding a new door sweep. Today, they tell us it added up to hundreds of dollars in savings over the winter. We save about 10% on our energy bill, but more importantly, the temperature is even throughout our home. Everyone's looking to save, because it's going to be a cold winter ahead. You have some other areas of the home that don't cost anything to make changes? Reporter: That's right. If you have an act tick, weather industrial around the entrance. Close the drapes throughout your home. If you have ceiling fans, reverse them. That will push the warm air down into the home. Reverse them. I didn't know you could do that. Rebecca, thank you so much. Happy new year. When we come back here

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