According to National Resources Canada, the average vehicle in Manitoba travels 14,963 km per year, and for every 100 of those kilometers it travels, it consumes 11.2 litres of gasoline.
Today’s gas price (about 88 cents per litre as of this writing) is far lower than the 2014 high in Winnipeg – $1.33 per litre in June of 2014. At this rate, the average driver is saving about $755 this year, if gas prices stay about the same.
What are you going to do with the money you save?
You could go on a short vacation, or buy a nice toy. Or sock it away for a rainy day. Most people, however, will just absorb the money in to their daily expenditures, and not really notice that it’s there. An extra cup of coffee every day.
At Creditaid, we’ve got a different idea. Knowing how many people struggle with credit card debt, we’d suggest using your windfall from lower gas prices to help reduce the credit card, loan, or line of credit with the least favourable interest terms. You’ll then be putting the money you’re saving on fuel to its best possible use – bettering your financial position now and in the future.
We’ve helped many of our Winnipeg neighbours with customized solutions to eliminate their debt, including debt consolidation and debt management programs. We will help you with your current financial crisis, and give you the tools you need to ensure that you don’t have a recurrence in the future.