Conserve water and save money -

Water use savings can translate into liquid cash. The typical U.S. household pays up to $500 a year for water and sewer charges, according to the Environmental Protection Agency.

The EPA estimates that individual households can save about $170 annually by replacing older appliances with water-efficient models. If every home in the U.S. installed water-conserving appliances, the annual savings would exceed $18 billion and 3 trillion gallons of water, according to the EPA.

There are a variety of steps we can take to save money and water.

Plug leaks: More than 10 percent of your money may be going down the drain because of leaks, according to the Center for a New American Dream, a nonprofit consumer group. Examine your home for leaks in sinks, faucets, pipes, sprinklers and appliances.

Target the bathroom: Bathrooms account for more than 50 percent of the water used in homes, according to conservation groups. Water-efficient shower heads and toilets can yield handsome savings. With an older, nonefficient shower head, 25-40 gallons of water are used during a five-minute shower. But a water-efficient fixture uses only 7½ gallons of water during that same time period, according to water industry data. Water-conserving appliances also lower household sewer and energy bills.

To encourage water conservation, some municipal governments, homeowners associations and other organizations offer free or affordable shower head swap programs. Some water utility companies provide financial incentives to consumers who upgrade fixtures and appliances with water-efficient models. Improve the spin cycle: Energy-efficient washing machines use less energy and water, according to New Dream. Energy-star rated washers use up to 50 percent less water than other models. The Consortium for Energy Efficiency offers a list of water-conserving washers.