If your bill is $700/month it's more than likely your fault. Either your house is quite large. Or you run it very inefficiently. In mild Northern California there's no reason for your bill to be that high.
That is very fixable. With $500/month of potential savings the return on investment is very high.
> Leaving a typical server on is like $70
1. That'll cut down on your heating bill.
2. How many people need a server that expensive? To do what?
I admit, with a bill that large I assumed a McMansion that you own. In your situation, I'd move to be honest. Easier said than done, with a newborn. But $700/month is completely ridiculous, unless you have really low rent to offset it.