You can save a lot of money and lower your utility bills with your water heater. There are several steps you can take to reduce your costs and reduce your monthly expenditures.

Water Heater Tips from 101WaystoSaveMoney.com:

• Turn down the thermostat from 140 to 120 and save $50 a year
• Wrap the water heater to save another 10%
  
  

Another way to reduce your utility bill is to upgrade to a new energy efficient model. Some power companies even offer an incentive or rebate to do so. In some instances, the savings in electricity costs can pay for the new model in a relatively short period of time.

For more information about reducing monthly bills, read Budgeting for Utilities

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