With the recent increases in gas price, everyone is feeling the pinch. What used to be a $30 fill up is now $40. And every household budget is in crisis from the rising gas price, along with everything else. So, I figure this is a good time to share some money saving tips.
Save Money On Car Purchases
- If you have a car, keep the car longer if it’s still in good working order.
- If you need a car, buy a used car.
- Buy a fuel efficient car.
- Buy the right car for your driving needs — for example, don’t buy a Hummer for your daily commute.
- Don’t spend money on accessories and options; especially if they don’t contribute to safety, utility, or comfort.
- Don’t spend money on paint protection, special coverages, and extended warranties. They are basically scams.
- Avoid car loan. If you need one, research your options before speaking to the dealership finance manager
Save Money On Car Insurance
- Shop for the best auto insurance.
- Combine you auto and homeowner’s insurance for additional savings.
- Consider dropping collision and comprehensive coverage on older cars.
Save Money On Car Maintenance
- Properly inflate your tires.
- Change your air filter as needed.
- Change your engine oil and oil filter as need.
- Don’t pay premium for synthetic oil unless your car needs it.
- Check fluid levels regularly.
- Wash and wax the car yourself.
- Keep a good maintenance record.
Other Ways To Save Money
- Walk when possible.
- Use public transportation when it make sense.
- Cut back on unnecessary trips.
- Car pool.
- Plan your route and combine your errands to save fuel and time.
- Use a GPS.
- Avoid toll roads when possible.
- Don’t warm your car up by letting it idle.
- Drive at the speed limit to save gas and avoid speeding tickets.
- Don’t accelerate to red lights and stop signs.
- Use cruise control on highways.
- Be courteous to other drivers.
- Control your emotion.
- Keep your distance and anticipate changes in traffic patterns.
- Use the right grade fuel for your car. Higher octane fuel are just more expensive.
- Know the cheap gas stations in your neighborhood.
- Remove unnecessary items from your car — keep it light.
Lastly, I’d like to share a few good articles about car expenses:
- 21 resources for budget travel at Plonkee Money
- These Insane Gas Prices are Killing my Joy at Special Kind of Stupid
- Our Car Buying Experience – Part Three: 5 Lessons Learned to Reduce Stress and Cost at Chief Family Officer
- How To Beat High Gas Prices and Save Money At The Gas Pump at Money Blue Book
- Frugal driving. . . at Finally Frugal
If you can think of anything else, please share your money saving tips.
Pinyo is the owner of Moolanomy Personal Finance and a Realtor® licensed in Virginia and Maryland. Over the past 20 years, Pinyo has enjoyed a diverse career as an investor, entrepreneur, business executive, educator, financial literacy author, and Realtor®.