Lower Gas Prices Mean More $$ in Your Wallet

Gas prices have been down for most of the year.  If you have a budget, you should be seeing savings on the line-item for gas.  Put this extra money towards your credit cards and pay them down sooner.

This Will Help The Family Budget

Gas prices are down.  Don't go out and buy a gigantic car, though.  Using the extra cash to pay off debt or build up your emergency savings.

Gas Guzzling

OK, it’s that time in the economic cycle again where we need to rethink our driving habits, we already see Americans doing this.  Last month the average household in American spent $368.09 on gas.  That’s an average of 9% of the average household’s income.  Ouch!  Since many of us aren’t going to run out there to buy a Nissan Leaf, we may want to consider adapting the idea of going to the ATM as little as possible to that of visiting the gas station and driving all together.  This means planning trips for running errands and picking up the kids, so that we’re hitting a couple of places on the way to and from our final destination.  We should try to hit the grocery store once a week or less if you’re a frequent shopper at Costco or Sam’s Club.  This may, also, mean not making some trips at all.  Another option is to car pool one day a week. Check with your local city or state transportation agency, there are some fantastic ride share programs out there. Another option is to work with your employer to telecommute when you can. Try one day a week and see how much more you can stretch that tank of gas. Granted we still want to have a life, but if there is any way to reduce that $400 monthly charge, let’s do it.

Just as a side note, blame it on speculators or blame it on the gas companies, but the info below is interesting.

2008 Peak Oil Price $145 a barrel       2011 Peak Oil Price $115 a barrel        20.6% less than 2008

2008 Peak Gasoline Price $4.11          2011 Peak Gasoline Price $3.98           3.1% less than 2008

So why is gas so much more now than it was back then?

Gas Prices Eat Up $386...