Frugality Archives — Page 2 of 58

3 Little Known Tips for Saving Money on Fuel

October 3, 2022 By Susan Paige Leave a Comment

The rising cost of gas is a stressor for many households across the United States. With gas prices higher than ever before, many drivers are looking for ways to save money at the pump. Here are a few tips and tricks for saving money on gas.

Opt for An Alternative Vehicle

Now is a great time to take a step back and evaluate your vehicle’s gas mileage and the average price of fuel, and to determine if this vehicle is worth it for what it costs. Opting for a more fuel-efficient vehicle such as a Get Lowered Cycles bike or an eco-friendly hybrid can save a surprising amount of money on fuel, especially if your current vehicle is an SUV, van, or another large car.

While buying a new vehicle to save money on gas might seem counterproductive due to the high cost of purchasing a new car, trading in your old vehicle for a better, more fuel-efficient alternative can end up saving you thousands of dollars in the long run.

Don’t Drive Further For Cheaper Gas

Some people believe that only filling up their vehicles at certain gas stations which boast lower prices is a good way to save money at the pump, but the truth is that doing so will only end up costing more money in the long run as you will ultimately use more gas than necessary driving out of your way to a particular station, resulting in a need to purchase more gas. Although it might not feel like the most efficient way to fuel, just get gas at the nearest station when your car needs it, and you will save more money than you might realize.

Pay With Cash

One of the biggest ways to save money on gas is by paying for fuel with cash. Many drivers don’t realize that the advertised lowest price for gas is actually the price if paid with cash, meaning that many drivers are unknowingly paying even more than expected when using a credit or debit card to fill up their tanks. Although paying in cash might not be as convenient as paying with a card right at the pump, it can save you about 10 cents per gallon on average, which really adds up.

The Irrationality of Seeking the Lowest Gas Price

July 4, 2022 By MelissaB 1 Comment

This week, I drove through the Costco parking lot, and I noticed that the usual entrance to the Costco gas station was blocked off. Instead, gas station traffic was diverted to the area by the entrance of Costco so a longer line could form and not block other parking lot traffic. I followed the line for gas and discovered it was at least 10 cars long. What?! What is this irrationality of seeking the lowest gas price? I am a Costco member, and yes, gas there can be up to 25 to 30 cents a gallon cheaper, but I would never wait in such a long line for gas.

Why do Americans obsessively attempt, at any cost, to pay the lowest gas price? Do they not know that their efforts cost them precious time and yes, even money?

One Woman’s Pursuit of the Lowest Gas Prices

I have a relative I will call Judy, who is a low gas price chaser. She will drive 10 miles or more out of her way to save a few pennies per gallon on the price of gas. She has a 10-gallon tank. If she pays $5.04 at her local gas station, filling her empty tank will cost $50.40.

If she cruises to a town 10 miles away, she might pay $4.98 per gallon, meaning a fill-up will cost $49.80. She saved .60 cents, but did she? She also wasted gas to get to the lower-priced station and took 20 to 30 minutes of her time to do so.

Why We Don’t Seek the Lowest Gas Price

I’m frugal in general. My husband and I only take our family out to eat about five times a year. We drive old vehicles. My Toyota Sienna is a 2004 and has 231,000 miles on it. My husband’s car is a 2013 and has 105,000 miles on it. We live in a modest neighborhood, and when we bought our house, we bought one that was on the lower end of what we could afford.

We like to save money, so you might be surprised to learn that I don’t play the lowest-gas-price game. It’s not worth it to me.

My minivan has a 20-gallon tank, and our nearest gas station sells gas for $4.86 a gallon. To fill up my minivan costs a whopping $97.20. Ouch! Gas at our nearest Costco is $4.55 a gallon. Filling up there would cost $91, so I would save $6.20. However, I do not want to wait in line for 30 to 45 minutes to save six bucks.

Instead, I choose to limit my driving while prices are so high. We stay home a lot more, and when we drive, we combine errands, so we don’t use as much gas. Right now, I’m filling up every two weeks.

Final Thoughts

Americans are obsessed with seeking the lowest gas price, only to save at most a few bucks, or, at worst, a few cents. To do so, they have to spend money and precious time. Rather than chasing the lowest gas price, a more lucrative option may be to find other frugal ways to save money that more significantly impacts their bottom line.

Don’t Make the Cost of Gas Your Scapegoat

Is a Costco Membership Worth It When Living Alone?

MelissaB

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in Arizona where she dislikes the summer heat but loves the natural beauty of the area.

www.momsplans.com/

Is a Side Hustle Worth the Family Sacrifice?

June 20, 2022 By MelissaB Leave a Comment

When our kids were young, my husband and I struggled financially. My husband was getting his Ph.D. and worked as a graduate assistant. I had just quit my full-time job because the cost of daycare in Chicago for two kids under two plus after-school care for our oldest would cost me as much as I was taking home each week. We survived for three years like this until my husband graduated and started working a regular job and a side hustle. I also worked a part-time job from home. Now that we’re 10 years removed from that situation, we recently discussed if a side hustle is worth the family sacrifice.

Some Times You Have No Choice

I want to acknowledge that sometimes, you have no choice. Sometimes you have to work as much as you can to cover rent, buy groceries, and care for your family. For my husband and I, the first few years after he graduated were like this. We were in debt because we had lived off his graduate assistantship and student loans those last three years, and we needed side hustles to try to get out of the hole we were in. However, we should have set a limit for how long we would work our side hustles.

Dave Ramsey’s Influence

Fifteen years ago, I loved listening to Dave Ramsey, and I bought into the idea that we should “live like no one else so later we can live like no one else.” I accepted the sacrifice that side hustles required because I was sure that if we worked hard, we’d end up on the other side, able to check off the baby steps.

Is A Side Hustle Worth the Family Sacrifice?

We are now at the point where we’ve completed baby steps 1, 2, and are on baby step 3. However, we’re also at the point where our kids are now 18, 13.5, and 12. We lost a lot of our kids’ lives to side hustles.

Is a side hustle worth the family sacrifice? As a parent with older children, I can answer for us, it was not worth it.

What We Sacrificed for the Side Hustle

Side hustles have a dark side that most people don’t talk about. For us, these were the major drawbacks:

We Were Exhausted

After my husband got home from his regular job and side hustle, I would start my work after being with the kids all day. I would often work until midnight and get up at 5 or 6 a.m. That was not enough sleep.

My husband and I were both exhausted all the time.

We Were Grouchy

Because we were working so hard and exhausted, we were also grouchy. Raising young children can be challenging under the best circumstances, but when you’re exhausted and grouchy, it’s not good for anyone.

Final Thoughts

Is a side hustle worth the family sacrifice? For us, the answer was no. Rather than following Dave Ramsey’s advice to hustle until you’re completely out of debt, we should have set a limited time frame for our side hustle. We hustled for far too long, and I’m sorry we missed out on some opportunities to spend enjoyable time with our kids when they were little because of that.

How to Get Out of Debt and Stay Out of Debt

4 Side Hustles for Teachers

MelissaB