Tips like these helped us pay off $127K in debt. You can read our story in Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After.
If you’re anything like me, you’ve been feeling a ridiculous amount of relief at the pump lately. The gas prices have dropped to their lowest prices in years. Certainly, we all can breathe a little bit easier and our budgets might have a little margin. However, don’t get too comfortable. Eventually, those prices will go back up. Here are some principles to help you save money on gasoline.
Set Your Budget High
When a set expense decreases, there’s a temptation to immediately reduce your budget and absorb those extra dollars. Hold off there sugar pop, you need to eat a big bowl of honey bunches of “nope.” Instead, base your budget on an average of last year’s gasoline expenditures. Then if/when you do come in under budget, you can put the difference toward paying off debt (or if you’re debt free a different savings goal).
Evaluate Your Grade
Just because a product is the most expensive, it doesn’t mean it’s the best choice for you. Everyone’s vehicular decisions are different; however, the majority of us don’t need a high grade of gasoline. If you’ve been placing the most expensive fuel into your car, it might be time to evaluate whether or not you really need to continue doing so.
Nix the Extras
Gasoline isn’t the only way you can overspend at the gas station. Car washes, giant sodas, pizza, doughnuts, candy, coffee, and more beckon your name. Focus your eyes on your primary purpose. This is definitely one area of spending that I would encourage people to use a debit card only. Pay at the pump and stay out of the store. If you can’t see it, you can’t want it.
Leverage Fuel Rewards
There are a variety of stores that feature fuel rewards programs. While I’d never encourage you to shop at one particular place specifically for the rewards, I would suggest if you’re already shopping there and there’s a program in place to take advantage of it. On the top of my list would be the Kroger Fuel Points (holla for those gift card deals!), Meijer’s mPerks Pharmacy Rewards program, and Walmart’s $0.03 per gallon discount with Murphy USA when you buy a gift card.
Double Think Membership Programs
Some gas stations offer special discounts for “members.” Sometimes these membership programs can leverage in your favor. Other times, they pose a risk to your finances. I’d never recommend a program where you’re required to have a credit card or pay a membership fee. You’ll also want to consider whether or not you can consistently purchase gas at that specific station. Keep in mind the gas station has a benefit when you become a member. They’re not just out to become your best buddy. Will their benefit actually end up costing you money in the long run?
I’d love to hear more money saving suggestions for gasoline in the comments. What programs do you love? What do you do to save? How are maximizing the extra dollars you might have in your budget right now?
My book is now available: Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After. You can also check out Inspiration to Pay Off Debt: 30 Days of Encouragement from the Queen of Free
This post contains an affiliate link. That means when you get a great deal or maybe even something for free, you also help our family pay off our mortgage early. And for that, we royally thank you!
I am loving the new Plenti program. When I buy my freebies at Rite Aid, I earn Plenti points that I can use at Exxon or Mobil to get my gas for FREE! (You can also earn rewards at Macy’s, too)