18 Ways to Save Money on Gasoline Now!
Image sourced by Dawn McDonald @dpreacherdawn
Welcome Back!
No doubt you’re feeling the pinch of higher gasoline prices at the pump.
I know I am and I don’t drive that many miles in a year.
Your Budget and Grow Rich® financial research team came up with these 18 ways to save money on gasoline:
Check out GasBuddy® to find out the gas station that charges the lowest price per gallon in your area.
Enter the zip code where you’re located or traveling and GasBuddy® will tell you the lowest price per gallon in town.
The price of gasoline changes regularly so it’s worthwhile to check Gas Buddy® before you fill up your tank.
Upside App – download the Upside App on your Smartphone to get cash back on gasoline and food.
Join gas station Loyalty Programs to get discounts on gasoline and items in the convenience store.
I purchase gasoline at the Speedway gas station on my way to the office. I joined their Speedy Rewards® program which gives me a discount of 7₵ a gallon every time I fill up the tank.
Every so often I accumulate enough points to earn a $10 gas gift card which I use to buy gasoline. Free gasoline.
I find Speedway’s prices are competitive in my area but I haven’t checked GasBuddy® to see if Speedway offers the lowest prices in town. Since the station is right on my way to work though, I save time.
Pay cash for your gasoline.
Often, the credit card, debit card or charge card price is 7₵ to 10₵ higher than the cash price.
Apply for a Gasoline Rebate Credit Card.
Apply for a credit card issued in connection with your gasoline station. This may be the station’s charge card (credit card).
Often, you’ll receive discounts on gasoline, often as a cash back statement credit. But card benefits change regularly so check out the terms before you apply and every so often.
Visit CreditCards.com to learn more about gasoline rewards credit cards.
If you do use a credit card to purchase cash and pay at the pump, make sure you have adequate credit capacity – line of credit – to cover the gasoline purchase. Because often the credit card company holds $200 against your credit line to cover the expected maximum gasoline purchase; you never want to ‘bounce’ – exceed your credit line.
Run your errands on your way home from work. This saves you an extra trip.
Drive smartly.
Don’t speed up rapidly, accelerate rapidly or slam on the brakes.
Drive within the speed limit and absent traffic congestion, drive at the speed limit.
Consider activating the ‘Cruise Control’ on highways and other long stretches of road because with Cruise Control, the car runs at a constant speed.
When you want to stop and traffic patterns allow, take your foot off the gas pedal and coast to a stop. Let the car slow down on its own.
Don’t let the engine idle if you are stopping or stuck in traffic for a lengthy period of time. The engine on many newer models automatically turns off.
Don’t drive during rush hour when practical.
Use your GPS to identify the most efficient route.
Carpool with friends and neighbors. Split the cost of gas and tolls.
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Work remotely if your employer allows.
Walk or ride your bike instead of driving your car.
Eight years ago, I moved to a new town. My Coop apartment is a five-minute walk from the MTA commuter railroad station. Easy.
Take public transit. When I have business meetings in New York City, taking the train is a lot easier, less stressful and more economical than driving, especially with New York City’s Congestion Pricing.
Consider switching office locations or jobs to one closer to your home.
I live in Westchester County. Years ago, I worked for a company based in Secaucus, New Jersey. The drive was 47.7 miles each way and the tolls cost $17.
I happened to find a better opportunity with another company that was only 13.4 miles from home each way; and No tolls. Easy!
Consider moving to a new town?
This may be a lot but who knows. . .
Eight years ago, I ended up moving to a new town eight years ago for personal reasons. With the new location, I reduced my commute from 13.4 miles each way to 4.0 miles each way.
I ended up reducing my annual mileage from approximately 12,000 to 13,000 miles a year to approximately 5,000.
One drawback though is that almost all of the driving is local rather than highway driving which adds wear and tear on the car. Local driving tends to cause fluid buildup and more frequent braking.
Take care of your car and follow the recommended maintenance.
Buy the recommended gasoline. I drive a Honda CR-V SUV; and the owner’s manual recommends 87 octane unleaded gasoline.
Change the oil regularly in accordance with the owner’s manual.
Inflate your tires properly. The recommended tire pressure is typically listed on a plate or on a sticker inside of the driver’s side door.
Replace the air filters at the recommended cadence.
Rotate and balance your tires when needed.
Store extra items, especially heavy ones, in your garage, basement or self-storage unit. That includes the clam shell and the bike rack you attach to your car.
Consider buying a Hybrid Vehicle.
My ex-girlfriend had a Toyota Camry Hybrid. She got 57 miles per gallon. Nice!
See you at the pump.
Arthur VanDam, CPA MBA
P.S. To Save More Money Every Day – click here.
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Disclaimer: OH and Please Remember, we are Not financial advisors, financial planners, attorneys or accountants and are Not providing any specific financial, tax, accounting or legal advice here. Be sure to conduct your own due diligence and consult your own professional advisors to get sound professional advice that’s specific to your financial and personal circumstances, risk tolerance, time horizon and investment goals and objectives among other key factors!
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