Save money, buy gas!
Not exactly. Gas prices have plummeted by as quick and steep a decline as ever, but that doesn’t mean you should start planning your cross-country treks anytime soon. Without delving into a lengthy economic analysis (which I don’t even understand), pricey fuel and a weak economy are not a great mix for stable crude oil and gas prices. Demand is down.
But enough of the economics mumbo jumbo. Although gas is as cheap as $1.70 in places like Missouri, the best savings tip is to do what you can to spend zilch on gas. If you’re able to limit or cut the amount of driving you do, DO IT.
However, for the times where you MUST drive, there are outstanding ways out there to save.
Tip # 1: Research! Use the web to find the cheapest gas. I’m thankful to live near a pretty reliable *but frustrating!* public transportation service in the greater Boston area, so my daily driving is limited. However, I’m getting ready to head a few hundred miles south to Jersey for Thanksgiving. My favorite site for this is gasbuddy.com. Just plug in your zip code and find out where to fill up.
Tip #2: When you get to the pump, use a credit card! “So Captain J, I should just swipe that plastic on through and not worry about it, thus saving money!?” Absolutely not.
The first trick is to sign up for a rewards credit card specifically for gas. For this to work, you MUST treat this card like a debit card. Fill up your tank, go home, and pay your credit card bill online that day if you can.  Here’s a good gas card for students with limited credit:
- The Discover Open Road Card for students gets you 5% cash back on gas prices, and up to 20% cash back at major retailers. Application is quick and easy.
The combination of these savings plans can really add up. Let’s put it into action. Using gasbuddy.com, I can see that the gas station closest to my house is at the high end, an Exxon station for $2.36/gallon. If I fill up my tank once a week, I’m spending about $35 weekly, or over $1,800 annually. However, with a little research, I found that a Gulf station less than a mile away is wayy down at $1.99, which equates to less than $30 weekly, and about $1550 annually! Now, if I was diligent and made those purchases with my gas rewards card, I could save over $75 bucks on top of that.
- $1,800-$1,475=$325 of annual savings. You do the math; a little effort can go a long way.
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I think you have to use credit cards responsibly, especially with the economy scare. It is way too easy to “charge it” and worry about it later.
credit cards: use with caution
saving money is always a good thing
the credit cards are to use when we dnt have cash money
5% adds up and makes you some pocket money
Agree with Tiffany
There are a lot of tips on-line that are helpful. I read an article in Reader’s Digest that mentioned hypermiling (you can look it up on google). My sister and I tried it and we cut our gas spending to only once every two weeks! We have to drive an hour for school every day so we were excited about that. Also some gas stations offer their gas at a lower price if you use cash or a gas card. Happy Savings!
i think that credit cards are a good and more moderate way to survie in todays economy, because money makes you more suspectable to be robbed
I think credit cards are great. It’s a great idea to pay for gas, etc and then just pay the balance off with the money you have in your account. This for sure builds up your credit which lets face it guys… We all need down the road to get houses, etc… It seems like credit reports are ran all the time if you ever want to get anything! A good steward who can use credit cards wisely should for sure have a couple!
totally agree with tiffany
I AGREE WITH BRAD CREIT CARD DO SAVE MONEY AND ITS ALL ABOUT HOW YOUR USING IT
you need to plan ahead of time all the time
I think saving money for gas is an great idea from the way our economy is heading now these days.
Its a good thought but I dont agree with credit cards.
ok
I STIIL DON’T AGREE WITH CREDIT CARDS. THOUGH IT SOUNDS LIKE A GREAT PLAN
I think its good.
This is a very good idea but not everyone is eligible for credit cards! I have an account with a bank that gives me a percentage back if i use it at certain stores as well as gas stations
yea i agree
i think it a good idea
COOL
I also agree with you people. I think it’s really good idea for students like us.
Extra debt for college students is not worth it. However, depending on your status with a job or if your parents pay for everything, it is a good way to build your credit and to save money. If you can’t afford it, don’t do it!
I live 6 hours away from home so having to fill up gas when I leave and half way home is a total pain in the butt, especially when I don’t have a job. So having a credit card WOULD be a good idea but how do you pay it if you don’t work? Good idea though..
Annie,
There is absolutely no free lunch in the world of finance. If you don’t have a steady stream of income, a credit card is not for you