Money-saving products: 16 picks from free to splurge
Disclosure: we earn a commission if you buy through links on this page, at no cost to you. This is a research roundup based on government sources (Department of Energy, ENERGY STAR, EPA WaterSense), manufacturer specifications, and our own math. We haven't tested these products ourselves. See our review policy.
The best money-saving products are cheap, easy, and pay for themselves by cutting a bill you'd keep paying anyway. This list runs from free changes you can make tonight to bigger upgrades worth planning for, so start at the top and work down.
Jump to: Free or cheap · Somewhat cheap · Best return on investment · Most expensive
| Item | Approx. price | Est. yearly savings | Payback | Score |
|---|---|---|---|---|
| Free or cheap | ||||
| Turn your water heater down to 120°F | Free | Varies | Immediate | 7/10 |
| Wash laundry in cold water | Free | Varies | Immediate | 7/10 |
| Cancel subscriptions you don't use | Free | Varies | Immediate | 7/10 |
| WaterSense faucet aerators | About $3 to $10 | Varies | Varies | 4/10 |
| Somewhat cheap | ||||
| Energy-monitoring smart plug | About $10 to $25 | $10 to $40 a year | About 8 months | 5/10 |
| Water heater insulation blanket | About $20 to $40 | $28 to $64 a year | About 8 months | 5/10 |
| Kill A Watt P4400 power meter | About $20 to $35 | Varies | Varies | 4/10 |
| Advanced (smart) power strip | About $25 to $50 | $10 to $40 a year | About 1.5 years | 4/10 |
| Folding clothes drying rack | About $20 to $50 | Varies | Varies | 4/10 |
| Weatherstripping and door sweeps | About $10 to $30 | Varies | Varies | 3/10 |
| Best return on investment | ||||
| Water filter pitcher (if you buy bottled water) | About $25 to $40 | $100 to $235 a year | About 2 months | 9/10 |
| WaterSense low-flow showerhead | About $15 to $50 | $70 a year | About 6 months | 8/10 |
| LED bulbs (if you still have incandescents) | About $15 to $40 | $63 to $95 a year | About 4 months | 8/10 |
| Most expensive | ||||
| ENERGY STAR smart thermostat | About $65 to $250 | $50 a year | About 3.1 years | 4/10 |
| ENERGY STAR heat pump water heater | About $2,500 to $5,000 | $550 a year | About 6.8 years | 4/10 |
| WaterSense smart sprinkler controller | About $65 to $280 | Varies | Varies | 3/10 |
Free or cheap
Free changes and items under about $15.
Turn your water heater down to 120°F
7/10- Approx. price
- Free
- Est. yearly savings
- Varies
- Payback
- Immediate
- Effort
- Easy
Many water heaters ship set higher than they need to be. The U.S. Department of Energy recommends 120°F, a temperature it considers safe for most people, and a lower setting means less energy spent keeping a full tank hot.
Source: U.S. Department of Energy, Energy Saver Guide. Savings depend on your current setting and how much hot water you use. Check your dishwasher manual first if it relies on hot inlet water.
Wash laundry in cold water
7/10- Approx. price
- Free
- Est. yearly savings
- Varies
- Payback
- Immediate
- Effort
- Easy
ENERGY STAR says about 90% of the energy a clothes washer uses goes to heating water. Most everyday loads clean fine in cold water, especially with a detergent made for it.
Source: ENERGY STAR. Savings depend on how many warm or hot loads you run now and how you heat water.
Cancel subscriptions you don't use
7/10- Approx. price
- Free
- Est. yearly savings
- Varies
- Payback
- Immediate
- Effort
- Easy
Recurring charges are built to be forgotten. A 30-minute sweep of your statements and app stores often turns up something to cancel.
Savings depend entirely on what you find. See our step-by-step audit.
WaterSense faucet aerators
4/10- Approx. price
- About $3 to $10
- Est. yearly savings
- Varies
- Payback
- Varies
- Effort
- Easy
A screw-on aerator cuts the flow from a bathroom faucet without changing how it feels to use. The EPA says WaterSense labeled aerators can save a family up to 700 gallons of water a year.
Source: EPA WaterSense. Dollar savings are small and depend on local water and energy rates, but so is the price.
Somewhat cheap
Roughly $15 to $60.
Energy-monitoring smart plug
5/10- Approx. price
- About $10 to $25
- Est. yearly savings
- $10 to $40 a year
- Payback
- About 8 months
- Effort
- Easy
Shows how much power a device draws and switches it off on a schedule. Most useful for TVs, consoles, and desk setups that sit on standby all day.
Our estimate: cutting 10 to 40 watts of standby for 16 hours a day at 17¢ per kWh. The plug itself uses about a watt.
Water heater insulation blanket
5/10- Approx. price
- About $20 to $40
- Est. yearly savings
- $28 to $64 a year
- Payback
- About 8 months
- Effort
- Moderate
For tank water heaters that feel warm to the touch, an insulating jacket cuts heat lost through the tank wall. The Department of Energy says insulating a warm tank can save 7% to 16% a year on water heating costs.
Source: U.S. Department of Energy, Energy Saver Guide. Our estimate assumes about $400 a year in water heating costs. Newer tanks are often well insulated already, and some manufacturers advise against blankets, so check your manual.
Kill A Watt P4400 power meter
4/10- Approx. price
- About $20 to $35
- Est. yearly savings
- Varies
- Payback
- Varies
- Effort
- Easy
Plug it in between the wall and an appliance to see exactly what it costs to run. It doesn't save money itself, but it shows you where to look.
Savings depend on what it finds, such as an old second fridge or a power-hungry gaming PC.
Advanced (smart) power strip
4/10- Approx. price
- About $25 to $50
- Est. yearly savings
- $10 to $40 a year
- Payback
- About 1.5 years
- Effort
- Easy
When the main device, like a TV or computer, turns off, the strip cuts power to the accessories plugged into it. It's a set-and-forget way to stop standby drain across several devices.
Our estimate: cutting 10 to 40 watts of standby for 16 hours a day at 17¢ per kWh.
Folding clothes drying rack
4/10- Approx. price
- About $20 to $50
- Est. yearly savings
- Varies
- Payback
- Varies
- Effort
- Easy
Air-drying even some of your laundry skips the dryer, one of the bigger electricity users in many homes. Delicates and gym clothes also last longer without the heat.
Savings depend on your dryer, your electricity rate, and how many loads you air-dry.
Weatherstripping and door sweeps
3/10- Approx. price
- About $10 to $30
- Est. yearly savings
- Varies
- Payback
- Varies
- Effort
- Moderate
Sealing drafty doors and windows keeps heated and cooled air inside. The Department of Energy calls sealing and weatherstripping one of the quickest money-saving tasks and says sealing air leaks can save 10% to 20% on heating and cooling bills.
Source: U.S. Department of Energy, Energy Saver Guide. Savings depend on how leaky your home is and your climate. A kit covers a door or a few windows; whole-home sealing is a bigger job.
Best return on investment
Inexpensive picks that tend to pay for themselves within about a year, for the right household.
Water filter pitcher (if you buy bottled water)
9/10- Approx. price
- About $25 to $40
- Est. yearly savings
- $100 to $235 a year
- Payback
- About 2 months
- Effort
- Easy
If you buy bottled water now, a filter pitcher is likely the biggest saving on this list. Brita says its Elite filters last about 120 gallons each.
Our estimate: replacing 2 to 4 gallons a week of bottled water at about $1.30 a gallon with filtered water at under 17¢ a gallon. No savings if you already drink tap.
WaterSense low-flow showerhead
8/10- Approx. price
- About $15 to $50
- Est. yearly savings
- $70 a year
- Payback
- About 6 months
- Effort
- Easy
WaterSense showerheads use no more than 2.0 gallons a minute and are tested to still feel good. The EPA says switching can save the average family more than 2,700 gallons of water and about $70 a year in water and energy costs.
Source: EPA WaterSense. Savings scale with how many people shower in your home and how you heat water.
LED bulbs (if you still have incandescents)
8/10- Approx. price
- About $15 to $40
- Est. yearly savings
- $63 to $95 a year
- Payback
- About 4 months
- Effort
- Easy
The Department of Energy says an ENERGY STAR LED bulb uses up to 90% less energy than an old incandescent, lasts 15 to 25 times longer, and saves about $55 over its lifetime. The price here is for about ten bulbs.
Source: U.S. Department of Energy, Energy Saver Guide. Our estimate: replacing ten 60-watt incandescent bulbs used 2 to 3 hours a day with 9-watt LEDs at 17¢ per kWh. Little or nothing to save if you already use LEDs.
Most expensive
Bigger purchases with real savings but longer payback. Get quotes and check local rebates first.
ENERGY STAR smart thermostat
4/10- Approx. price
- About $65 to $250
- Est. yearly savings
- $50 a year
- Payback
- About 3.1 years
- Effort
- Moderate
Adjusts heating and cooling around your schedule automatically. ENERGY STAR says certified smart thermostats save about 8% on heating and cooling bills, around $50 a year on average.
Source: ENERGY STAR. A basic programmable thermostat costs less and the Department of Energy says setbacks of 7 to 10°F for 8 hours a day can save up to 10% a year, if you program it and leave it alone.
ENERGY STAR heat pump water heater
4/10- Approx. price
- About $2,500 to $5,000
- Est. yearly savings
- $550 a year
- Payback
- About 6.8 years
- Effort
- Pro install
Makes hot water using about 75% less energy than a standard electric water heater. ENERGY STAR says a household of four can save about $550 a year compared with a standard electric model.
Source: ENERGY STAR. Price is a typical installed range. Best considered when your current electric water heater needs replacing anyway; check utility rebates first.
WaterSense smart sprinkler controller
3/10- Approx. price
- About $65 to $280
- Est. yearly savings
- Varies
- Payback
- Varies
- Effort
- Moderate
Replaces a clock-based sprinkler timer and waters based on weather and soil. The EPA says a WaterSense labeled controller can cut an average home's irrigation water use by up to 30%, as much as 15,000 gallons a year.
Source: EPA WaterSense. Only useful if you have an in-ground sprinkler system. Dollar savings depend on your water rates and climate, and many water utilities offer rebates.
Before you buy anything
Free changes come first: they cost nothing and some save as much as the gadgets. Then use our budget planner to point whatever you save at a goal, so it doesn't disappear into everyday spending. More ideas: 9 ways to cut your electric bill.
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