When shopping for a new clothes dryer, look for one with a moisture sensor that automatically shuts off the machine when your clothes are dry. Not only will this save energy, it will save wear and tear on your clothes caused by over-drying. Keep in mind that gas dryers are less expensive to operate than electric dryers. The cost of drying a typical load of laundry in an electric dryer is 30 to 40 cents compared to 15 to 25 cents in a gas dryer.

This is another area where spending money is justified. The best pans combine different metals like aluminum or copper on the outside and stainless steel on the inside. Aluminum and copper are valued for their ability to spread heat evenly over the entire pan, and stainless steel is valued for its non-reactive qualities. Buy pans which are heavy and thick with solid handles that are well fastened to the pot. As with knives, buy the highest quality cooking pans you can afford one at a time, starting with a saute pan and a 3 qt. sauce pan. They will last forever. At some point, a stock pot (which will be especially pricey) should be considered for serious cooking.

When you're shopping for appliances, you can think of two price tags. The first one covers the purchase price - think of it as a down payment. The second price tag is the cost of operating the appliance during its lifetime. You'll be paying on that second price tag every month with your utility bill for the next 10 to 20 years, depending on the appliance. Refrigerators last an average of 20 years; room air conditioners and dishwashers, about 10 years each; clothes washers, about 14 years.