You know how even when your TV or PC is turned off, your components still give off little LED glows? That means that they are still drawing power. Power that you (and the earth) are paying for. Some poorly-engineered devices draw shocking (pun intended) amounts of energy.
A friend of mine told me about this green tech item. It's a power strip with a twist called the Smart Strip. It shuts down all power to selected items plugged into it when the main item is turned off. For example, it shuts down my speakers, external hard drives, printer, etc when my computer is off, but leaves on my DSL modem and wireless router for my wife to use. It works for me as advertised--I shut down my PC and all of my external peripherals (monitor, hard drives) power down. It costs the same as a typical power strip ($30-$40). The ones that I bought for my computer and TV will easily pay for themselves in a year. So what are you waiting for?