Do you leave your water heater on every hour of the day? Does your water heater even have controls which allow it to be turned down or off?
I recently learned many US water heaters don't have controls, while many European water heaters actually have timers, which allow automatic switch-off.
Mine has controls, but no timer, so I have to remember to manually lower it or turn it off, and since it takes a lot of energy to heat back up, I only disable it if we won't need hot water for > 24 hours or so. It's turned off at least 50 percent of the time, and thus saves me a bundle.