The most important things to do in a basement are to:

1. Seal the gaps in the foundation and between the foundation and the walls of the house,
2. Insulate the hot water pipes and any ducts in an unheated basement.
3. Seal any gaps or holes between the basement and the main floor of the house, including the openings through which water pipes and heating ducts
   pass from the basement to the rest of the house.
4. If the basement is heated then the foundation walls should be insulated as well.

Savings:

1. Sealing gaps in and around the foundation can save up to $50/year,
   depending on the condition of the foundation and the size of the house.
2. Insulating hot water pipes can raise water temperature 2ºF-4ºF hotter than uninsulated pipes can deliver, allowing for a lower water temperature setting on the hot water heater. It also saves on hot water usage because you don't have to wait as long for hot water when you turn on a faucet or showerhead. Savings can be as much as $10-15/year. Insulating heating ducts can save $20 or more per year.
3. Sealing gaps between the basement and main floor reduces drafts in the main part of the house and allows for a lower temperature setting on the thermostat. Each degree reduction in temperature setting reduces heat costs by 3% if the reduction is maintained throughout the winter.