The two ways to increase your money per month are to make more money or reduce your expenses. One common expense for individuals is gas prices, which have continued to remain expensive throughout the years. Therefore, when on the path to financial independence or striving to stretch your budget, saving money on gas can be a low effort way to increase the money you have to put towards your financial goals. In this article, I will share practical tips and strategies that have helped me cut down on fuel costs, allowing me to allocate more money towards achieving financial freedom.
One way to reduce your expenses on gas is to stretch the distance you can drive on a tank and fuel efficiency is something a lot of people don’t think about after purchasing a car, if ever. Proper vehicle maintenance is essential for optimal fuel efficiency. Neglecting regular upkeep can result in decreased gas mileage and increased expenses. Here’s a couple of things to check to increase your car’s fuel efficiency:
If you are going to be driving in an unfamiliar area, planning and optimizing your route beforehand can help to minimize unnecessary driving and save on gas. Personally, I enjoy using the Waze app, which knows real-time traffic alerts and can help avoid accidents or delays. Additionally, it helps to combine multiple errands into one trip.
Finding alternative transportation whether through carpooling, ridesharing or walking and biking not only reduces your individual gas cots, but also benefits the environment and your health. Ridesharing platforms allow you to split costs with others traveling in the same direction. Biking or walking can save money on gas and can benefit your physical health. Public transportation, if in an area where buses or trains are common, can also be a cost-effective to reduce your reliance on your car. Personally, I take public transportation to work and social events within my city and drive minimally when I want to save my time or convenience.
Many gas stations offer loyalty or rewards programs to help you save money on fuel purchases. Take advantage of these programs to earn discounts, cashback, or points that can be redeemed for future gas purchases, enhancing your savings over time. Most individuals fuel their car at the same station the majority of the time and odds are they offer a loyalty program.
Lastly, I have been using the app Upside for a couple of years now. This is a small habit I’ve changed to save a bit of money on gas when I need to fill up my tank and has made the most noticeable impact on my personal gas savings! Upside is a great way to also compare real-time the cost of gas at local stations near you, as well as how much cashback you can earn through each one when using the Upside app. You simply choose which participating gas station you want to fuel up at, pay for your gas using a card that is connected to the Upside app as usual (there is also an option to upload a receipt), and get your cashback. This cashback can be redeemed for gift cards, be sent to your paypal, or sent directly to your bank account. There is also a feature on upside for cash back from local restaurants as well, but I haven’t personally used it yet.
If you’re interested in Upside, you can use my referral code here, which will give you an extra $0.15 per gallon cashback the first time that you use the app!
Saving money on gas is a practical and low effort way to reduce your expenses. By implementing these strategies and adopting fuel-efficient habits, you can effectively reduce your gas expenses and allocate those savings towards your financial goals. Remember, every dollar saved at the pump brings you closer to your goals and the small habits add up to large changes over time.
