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Your Financial Life
By Natalie Saar / Oct 12, 2015

What Are You Doing With the Money You’ve Saved on Gas?

What_Are_You_Doing_With_the_Money_You_Saved On Gas

Gas is an an expense no one likes paying for or working into their budget, but it’s necessary for most Americans to get from Point A to Point B. Luckily though, you’ve likely noticed that over the last year gas has been costing less and less, as oil prices continue to drop. Even right now in some parts of the country, a gallon of gasoline is less than $2.

Believe it or not, prices may continue to fall too! Vendors are already starting to use the winter blends of gasoline, which are typically cheaper than summer blends. This means that people are saving upwards of 65% on their fuel costs across the country, compared to what they were spending last year, but what are they doing with the money they are saving?

Depending on how much you are able to save, you may have enough to consider investing. Or, if you’re looking to use your newfound savings to plan for your future, there are opportunities to kick-start your retirement plan.

With lots of options in front of you, how are you spending your newfound savings?

 

How are you spending your gas savings???

Investing
Saving
Traveling
Financially helping family members
Remodeling
Donating
Treating myself!

If you need some help figuring out the best thing to do with the cash you’ve saved, start with something simple. For example, every time you fill up, deposit $20 in your savings or emergency savings account. This is an easy way to boost your savings without adjusting your budget at all! If you set it aside when you make the purchase, chances are that you won’t miss the money anyway, since you’ve been spending that amount all along!

We also have lots of tools to help get your savings on the right track!

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