Consumer

NEW YORK (CBS News) ― Ice cold cash.

Those humming air conditioners are keeping you cool in your house or apartment during summer's swelter, but killing your wallet.

So, on "The Early Show Saturday Edition," home contractor Kristin Beall offered easy suggestions to help you save energy -- and cut your electric bill down to size by saving hundreds of dollars a year on cooling -- and heating costs.

Beall was in a home in Garnerville, N.Y.

Her pointers:

The simple and inexpensive act of changing your furnace and air conditioning filters is one of the best things you can do to save money on your heating and cooling costs. Not only will you use less electricity because the unit is running less often, but more air will get through the system and become much more effective. The big bonus is much cleaner air in your home. The Dept. of Energy recommends replacing filters as often as once a month, depending on your living conditions.

Put foam in your electric outlets on exterior walls. The inserts are easy to put in...only cost a quarter....but give a savings of about a dollar a year for each outlet. It will only be effective if it's an older style home and you can feel a breeze coming through the outlets. It's not a huge savings...but insulate enough of them and over time it will put more money back into your pocket

Low E gel that you can glue to your old windows that can save about $15/yr per window (south facing) on cooling costs. They allow you to keep shades and drapes open in the summer and still save money. It could be higher or lower depending on whether the window leaks or has a metal frame. IT ALSO KEEPS YOUR FURNITURE FROM FADING.

Install light dimmers on your floor and table lamps. Cutting back only 30 percent on the light will save 24 percent on your electric bill. CFL's are OK...but they should not be used on lamps that can be knocked over because they contain mercury that comes out if they break. (No one breaking bulb is dangerous, but if enough are broken the mercury levels can be a concern. They're ugly, too.

After 15 to 20 years the insulation in your home loses 5 to 10 percent of it's effectiveness from when it was new. It compacts itself and the R value goes down. If your attic insulation is old,add some of the new foam spray stuff under the roof deck. Open cell foam can be sprayed on .(only do this with a very qualified professional. Putting it on improperly can trap moisture on your roof and destroy it. It's relatively inexpensive, can be sprayed under the roof and can save up to 20 percent of your cooling/heating costs.

Use mastic or heat resistant foil duct tape and to all the seams in the duct work in your home. Over time, it can separate due to house vibrations and continuous use. In colder climates consider insulating around the ducts. (not in warm climates because of moisture problems) Tightening up the cracks will save up to 20 percent of your heating/cooling bill.

The actual dollar amounts were calculated for me by the Dept of Energy. Some numbers are low...others pleasantly high...for the actual savings. The DOE say many times you see outrageous claims on energy savings by certain manufacturers. They have teamed up with the FTC to close down those businesses.

The numbers -- assuming all windows in the house are gelled, all lamps have dimmers and are used, all outlets are leaky , ducts are leaky and insulation is ratty. Again...these are worst case scenario savings (best in our case) assuming each of these energy saving methods has maximum benefit.

Just an FYI -- -in an average house where there is some energy efficiency, a typical home owner could expect to save about $300/yr off the average utility bill of $1900/yr. using our suggestions!

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