Most experts agree that caulking and weather stripping any gaps will pay for itself within one year in energy savings. Caulking and weather stripping will also alleviate drafts and help your home feel warmer when it's cold outside.
Set fan clearance at 9 feet above the floor if possible (if this is not possible, maintain a minimum clearance of 7 feet. This will help you and your family avoid injuries. Conversly, don’t fit the ceiling fan too snugly to the ceiling; doing so will prevent it from circulating air properly.