"Lets look at an example close to home: my home. I live in Vancouver, BC, Canada. My home has about 230 m^2 of heated area with 2.2 m ceilings. As such the volume of air in my home is about 500 m^3. The density of air at 20C at sea level is about 1.275 kg/m^3 so my home contains about 640kg of air. The specific heat of air is about 1kJ/kg/C. That means to raise the temperature of 1kg of air by 1C requires 1kJ (kiloJoule) of energy. The average outside temperature in Vancouver measured over an entire year is about 10C. Therefore, to raise the temperature of the air in my home from 10C to 20C requires 6.4 MJ (megaJoules) of energy. If air infiltration is resulting in 3 times the recommended ventilation (ie 1 air change per hour instead of the recommended 0.35) then the air in my home is being changed an additional 15 times per day or about 5500 times per year more than necessary. At 6.4 MJ of energy per air change, that amounts to 35 GJ (gigaJoules) of wasted heat per year.
But that's not all. My natural gas furnace is over 15 years old and has an efficiency of only about 60%, so it requires 58 GJ of natural gas to produce 35 GJ of heat in the living space of the home. This ammounts to about half the natural gas I consume in a year. It costs me about $14.50 per GJ of natural gas, so my potential savings are about $840/year just by sealing my home better without adding any additional insulation, or replacing my furnace. Adding insulation and replacing my furnace are worthwhile too, but they require a much greater capital investment for probably about the same return."
Source and more:
http://www.iwilltry.org/w/index.php?title=How_to_weatherproof_your_home