This is the first in a long line of frugal tips I intend on having as a cornerstone of this site. I wanted to start off with a rather popular, yet easy to implement savings tip:
How to Save Money on Gas
- Keep the Pedal off the Metal: I had heard this a few times and decided to check it out myself. According to this government site, fueleconomy.gov, once you exceed about 60 mph, your fuel efficiency starts to plummet, to the tune of $.24/gallon for every 5 mph over 60 mph you travel. I guess it just comes down to how much of a rush you’re in and how much of a daredevil you feel like that day. After reading this report, if I’m not running late for something (and oh yeah, I have a family in the car), I just get over in the right lane, put it on cruise and stay at about 60 mph. What a simple, easy way to save hundreds of dollars per year!
- Speaking of Cruise Control:By simply utilizing cruise control instead of the constant accelerator manipulation, you save gas! It’s been estimated by Edmunds.com that you save an average of 7%. They recommend avoiding on hills though, as you lose that efficiency.
- Compare pricing easily! There are several gas price comparison sites out there. As an example, gasbuddy.com has users reporting in gas prices paid and displays them on a map. Take a look at this stark example of the spread in prices just within a small area. Close to 20% spreads within a confined area (of course, you could always jump the bridge over to Jersey, but that’s a bit inconvenient).
Some tips:
- If you buy something right off a highway, you’ll generally pay more for that convenience.
- If you find a spot where 3 of the 4 corners have gas stations, there will generally be a bit of competition to keep the pricing down some more.
4. Pay Yourself Back!!! The Consumer Reports Best Rated Gas Card is the Discover® Open Road Card. Now, I don’t recommend taking on credit card debt for the sake of cash back savings, but if you pay your bills monthly, but pay cash for gas, you’re leaving free money on the table. This card pays you back up to 5% of your gas purchases, yielding an easy several hundred dollars per year for a family that drives a fair amount.
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