Inflation has hit almost every aspect of our lives, especially at the gas pump. When gas prices are high, it can make it harder to afford other essential costs, such as housing, utilities, minimum credit card payments, and groceries.
Since gas is necessary unless you can take public transportation, it helps to understand how you can save money at the pump.
Here are 5 great ways.
1. Use a Gas App
Wouldn’t it be great always to know which gas station had the cheapest gas? Download a gas app, like Gas Buddy, and you can. This is helpful not only in finding the cheapest gas in your hometown but also in helping you take advantage of cheaper gas prices when you’re away from home.
For example, if you travel far for work, what if you could save money on gas in another town? A gas app will help you determine this.
2. Fill up Early on Tuesdays
It sounds random, but there are reasons behind it. Gas prices are the lowest on Tuesdays and increase as the week progresses. So if you can’t make it on Tuesday, fill up before the end of the week, or you’ll pay the highest prices.
Filling up early in the morning, no matter which day you fill up because cooler temperatures allow denser gas. This means you get more for each dollar you spend.
3. Share Driving Duties
If you can share driving duties with parents of other children or co-workers, everyone saves money. Alternate driving responsibilities, and you’ll use less gas. If your employer allows the option to work from home a few days a week, take that option too.
4. Drive in Off-Peak Hours
If you can control when you drive, make it during non-peak hours. With less traffic and constant stopping, you’ll use your gas more wisely. Sitting in traffic is a gas guzzler, which hurts your wallet. With less traffic, you’ll also get to your destination faster, using less fuel.
5. Save Money in a Gas Fund
Anytime you have a few extra dollars, consider saving it for a gas fund. With gas prices increasing and decreasing at such fast rates, you don’t want to be caught off guard on those high days.
With an ‘emergency gas fund,’ you can have the extra funds available when gas costs exceed your budget. Even if you have only a few dollars to put into it, do it; every dollar adds up.
You aren’t alone if your gas tank is bigger than your cheque. Inflation has hit everyone hard. But with some help, you can figure out how to fit the higher costs into your budget. At Creditaid, we help you understand how to manage your personal finances.
Reach out for a free cons
ultation, and our professionals will help you understand how to manage your finances during periods of high inflation. You might be surprised to learn the different ways you can save. We are here to help.