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Inflation Eating You? Price of Gas Now the 2nd Highest it’s Ever Been in US History

price of gas highest since stock market crash

Things are starting to look like a slower version of 2008.

More Signs the US Economy is Headed in the Same Direction as 2008-2009: the Price of Gas in 2014

The price of gas is showing huge signs of US dollar weakness, edging higher and higher and resembling that of 6 years ago before the stock market crash. This goes to show the strength of inflation that consumers are facing. Although the Fed Reserve doesn’t care about inflation, the average American has dealt with a growing 25% inflation since 2001.

Additionally this theory is confirmed and supported as the #1 reason for consistent rises in the price of gas.

 

What You Can Do to Save Money When You Drive

One good way to save money is to optimize the gas mileage your car receives. There are many little things that can have a negative impact on your car’s gas mileage. Gasoline prices are not improving so it’s important that you do what you can to get maximum gas mileage out of your car. Two very simple things you can do is keep your car in tune and change the oil when needed.

Analyze how often and how far you usually drive, the routes you take, the amount of traffic, and see if there’s anything at all you can do to minimize the distance  you drive and the time you spend on the road.

Consider an Electric Vehicle just like the thousands of others who are enjoying new technology and savings on energy.

sale of electric motor vehicles going up

In spite of TX, AZ, and NJ banning the sale of Tesla automobiles, electric car purchases are on the rise.

Get a Tune Up, Especially an Oil Change

For those of you who don’t have a lot of knowledge dealing with automobiles and their maintenance, a tune up will usually consist of changing the spark plugs. Tune ups aren’t necessary very often, so you probably don’t have to worry about it at this moment. A good indicator that you should seek a tune up is if your car has been in use for 50,000 miles. Normally, you should schedule an oil change every 3500 miles, but you can usually wait until 4500 miles without any adverse effect on your gas mileage.

Give yourself time to warm the car up in the morning

A true gas guzzler is any vehicle that is turned on in the morning. The engine is cold from sitting all night long, and this means it needs a little more time to warm up. The mistake so many people make is they start their car and then go. When you start driving immediately, your car doesn’t get a chance to warm up before hitting the road. You will burn extra gas when you do this, which is why you want to prevent starting your car and then just driving.

You will prevent yourself from burning this excess gas by letting the car warm up, instead of just immediately driving away. Sometimes people have their mornings down to the last second – this means you need to modify your schedule in order to make this work. You will save a lot of money by using this approach which is why you want to do it.

Talk it out with your partner or spouse

If you’re living with a spouse or partner, then how about both of you getting on board and save money together. Do a “brain dump” and put down any ideas each of you has. Then, fine tune the details and you will have a comprehensive plan that encompasses both of your ideas. It may be a challenge sometimes, but give each other encouragement to stay with the plan. Eventually, you will see progress in your savings.

It’s worth it to start saving money even if it’s $10 a week. 500 bucks is what you will save on an annual basis. This only represents cash you are not spending every single day. Over time, this can build up quite a bit. You will be able to save a lot of money by doing several other things. Things might look a little bleak for you, but even then, people strapped for cash can still save money. You will be able to save money, but you need a plan of action and you need to stay positive.

Other Steps for Making a Plan to Save Money

Almost everyone that has a credit card is aware of the credit card wars that continually wage war with one another. It does not take a long time to figure out what many people like to do. Credit card hopping will start to occur as the consumer chooses one with a lower rate over another. It is always a good idea to get the lowest interest rate possible to save the most money. If you want to help your credit score, then have a few cards because it will positively affect your score. Using your card to pay monthly expenses, you can then put your paycheck away. Your credit score will be positively affected by paying off a credit card with your check at the end of the month.

 

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