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 it can really be helpful.
I’ve always paid cash for gas. really nice to find such helpful info!
I agree with Breanna to start kind of at a low level. But overall its a good plan.
I have three credit cards. One I never use, and one that I use only when I really need it. One I use all the time! I use it as my main source of funds to buy what I need. Every time I get a check, I subtract my monthly expenses that I have to pay every month and figure out how much I have to put on my credit which normally lies around $600 or so. Then I put all of that on my pain credit card and I do so twice a month. If you do it from the start, you will not build up much debt. Plus, doing two payments a month means you don’t have to pay much interest!
I think its a great plan
I think its great that they have a cashback on gas card. I get gas at least a once a week because I commute to school. It would be great to get cashback.
I have not any credit card what should I do for it?
yes it would be nice to have a credit card if you could have a steady good paying job making a nice amount to be able to pay the banks their cutand what you have used but before doing all of this i feel that they should give young people better opportunities espescially the ones that are really aplying theirselves to be better in life its their fought that we are limited to succes because after so long people get tired of fighting to the top and then they get caught up in debt thinking they were doing the right thing by establishing their credit but they are only making $7-$8 an hour how are they going to pay anything off making that much money there might be other things they have to pay and how can you save money on a credit card or even a debit card when the banks systems are not always correct on updating your current balance they dont want us to over use our cards well they should not play us with the automatic system which is not correct all the time
Definatly a great idea.
I think that it would be a good idea to have a credit card with the way the changes are in our every day life
It is a good plan overall.
GOOD IDEA!
I love the idea of credit cards for gas, but I wonder how risky it is. If the rates are low concerning interest and late fees, I think it would be a great offer to consumers.
I also believe the idea of the credit cards would be even better offer, and would gain a greater consumer interest if the majority of gas stations throughout the country offered the option for consumers to, “pay at the pump“, completing all transactions needed to pay for gas solely at the pump.
So what is the advice you would give to someone who does not have the credit to have a credit card but must pay for gas because he drives for work?
I NEVER CONSIDERED A GAS CREDIT CARD, BUT WITH GAS PRICES TODAY…I MIGHT ACTUALLY CONSIDER LOOKING INTO IT
I think the plan is a good idea.
its a great idea
Well, I feel that it is a good idea for students who are traveling a long distance, but I don’t feel every college student should own one because college students can sometmes be irresponsible and misuse credit.
Credit cards are not a good idea uless there is no interest to have to pay back. It would be nice to just have to pay back what you spent not the intrest added to it.
Kecia,
If you pay the balance of what you charge in FULL each month, you’ll never have to pay one cent of interest charges. Credit card companies are nice enough to give you these monthly loans for free, and if you’re responsible and pay what you charge, you won’t have to worry about interest charges.
I am also definetly considering a gas credit card! Who would have thought?
I say credit cards are just dangerous.
I dont think having credit cards are good thing unless you are financially responsible and you have money.
I would be scared if I were to get one.
Gas prices around my house is mostly $1.69~$1.72.
I am really happy the price went down and i also just got a car thats great on gas so I am getting around really good.
I just hope that it will last for a while…
agree with Brad
Gas prices are going down but who is to say they will stay down? Saving money is always a good thing and saving money for the things that we have to have is important. Credit cards aren’t a must, and the only way they can help a person is by knowing how to use them.