Finance

Here’s How You Can Lower Your Heating Bill This Winter

Here’s something that’ll send a shiver down your spine: Heating your home is going to be noticeably more expensive this winter.

In fact, Americans are about to see the largest spike in their heating bills in more than a decade. But we’ve got eight tips to help you lower your own heating bill.

The average cost of heating a home this winter is expected to rise $177 to $1,202, a 17% increase compared with last winter, according to a new report from the National Energy Assistance Directors Association (NEADA). The group is also predicting a 42% rise in the cost of household electricity compared with the winter of 2020-2021.

This will be the second winter in a row with significant price increases for heating, according to NEADA. The organization’s members are the state directors of the federal Low Income Home Energy Assistance Program, which helps poor households with energy costs.

Why the increase? Mainly it’s because hot temperatures over the summer sent the price of natural gas soaring as Americans cranked up their air conditioners to beat the heat, according to NEADA Executive Director Mark Wolfe. Natural gas prices have spiked to a 14-year high.

NEADA says about 90% of our heating and cooling costs are tied to the price of natural gas, either directly or because natural gas is used to create electricity. And natural gas production is still recovering after waves of shutdowns during the COVID-19 pandemic.

What Can You Do About High Heating Bills?

If you’re a homeowner, the best way to reduce your heating bills over the long term is to improve your insulation or even invest in better windows, although both of those plans cost money.

If you’re a renter or you’re a homeowner on a budget, we have cheaper ways to cut back on your heating bill.

Here are some options to consider:

1. Insulate Yourself

Your attic could be allowing warm or cool air to escape, driving up your power bills. Look around your attic and basement for blackened insulation, which is a sign of air traveling through it.

Adding insulation to your attic can significantly lower your energy costs. So insulation can eventually pay for itself.

The Department of Energy’s website has in-depth instructions for how to insulate your home, although we’d recommend hiring a professional to do it.

2. Close Off Unused Rooms

This is our simplest tip.

If you have a room that you just use for storage, exercise or guests, close the door and shut the vents in that room when it’s not in use. Otherwise, you’re just unnecessarily heating an unused space.

3. Turn Down the Heat

An easy way to lower your heating bill in the winter is to run your heat at a lower temperature.

Obviously, you need to keep your place warm enough to prevent your pipes from freezing, but if you can stand the chill, turn down the thermostat to the low to mid-60s. Bundle up in sweatshirts, thick socks and blankets to stay warm — and don’t forget to cover up your pets, too.

4. Use a Space Heater

OK, so you’ve turned the heat down, closed off unused rooms and bundled up in blankets, but you’re still feeling chilly. A small space heater might do the trick — and you can get one for less than $30 on Amazon or at a home goods store.

Running a little bit of heat in one small area is more affordable than heating your entire living space.

5. Insulate Your Windows

Big, single-pane windows let the cold in, but you can find temporary ways to keep the heat from leaking out. You can do this by hanging thick curtains in front of the windows, but an even better solution (or a solution to combine with the curtains) is purchasing a window insulation film kit. You can get a kit to insulate 10 windows for under $15.

When incorrectly installed, your window will look like it’s been covered in shrink wrap.

6. Stop Eating Out

Of course you can save money on meals by eating at home instead of dining out, but in the winter, baking and cooking can have the added benefit of reducing your heating bill.

When you cook in your oven and on the stovetop, heat emanates into your kitchen and surrounding rooms. Crack the oven open after turning it off to let the remaining heat filter out into your home.

7. Block Out Drafts From Doors

The bottoms of exterior doors are a major culprit for heat loss in the winter. If you can see daylight creeping in from beneath your door or feel a cool breeze, you should take steps.

You can temporarily improve the situation by rolling up a towel and blocking the bottom of the door.

If you’re feeling more ambitious, try a draft guard. It’s basically two pool noodles in a pillow case. Adding a bit of rice or dried corn makes the guard a bit heavier and a better sealer.

8. Add Some Weather Stripping

Weather stripping for doors and windows is key to retaining heat in the winter (and keeping it out in the summer). If your windows and doors are letting too much heat out, replace the weather stripping.

It’s a minor cost (again, something you can buy for under 15 bucks), but it could save you big-time on heating bills.

Yes, heating your home is going to be more expensive this winter. But you’re not helpless to do something about it. A little strategic thinking and maybe a little elbow grease will help you cut your heating bill.

Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.


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