If you are like the average American, you use your car totransport yourself almost everywhere. You drive to work, to school, to buy groceries, even for a quick getaway. According to the US Department ofTransportation Federal Highway Administration, the Average American travels anestimated 13,476 miles each year.
As the cost of gasoline continues to be volatile, familiesare feeling the pinch on their monthly spending plans. It isn’t uncommon to hear around the watercooler that a fill up is costing $60, $70 or even $80 at the pump. You are probably feeling it too.
To find out what this really means for the householdspending plan, Virginia Saves took a look at how much an increase of a gallonof gas might cost your family. Weanalyzed various price increments in the cost of gasoline compared with themiles per gallon your car might get. Certainly,if you can go farther on a gallon of gas, your costs are lower. Assuming that we actually drive the averagedistances outlined above, if a gallon of gas increases $1.00 you could see ahit to your annual household spending of close to $900! That is almost $75 each month. The average driver has seen an increase thisyear alone of $20 per month in the cost of gasoline.
| Price Increase | MPG/Cost Increase Per Year | |||
| 15 | 20 | 25 | 30 | |
| $ 0.10 | $ 89.84 | $ 67.38 | $ 53.90 | $ 44.92 |
| $ 0.25 | $ 224.60 | $ 168.45 | $ 134.76 | $ 112.30 |
| $ 0.50 | $ 449.20 | $ 336.90 | $ 269.52 | $ 224.60 |
| $ 1.00 | $ 898.40 | $ 673.80 | $ 539.04 | $ 449.20 |
With extra dollars taken away from your budget to pay forgas, we need to be all the more vigilant in maintaining control ofexpenses. This money could have beenspent on increasing your savings, reducing your debt or paying for the othercomponents of your monthly expenses. Here are some ideas to help you save more at the pump discovered at www.fueleconomy.gov
1. Drive sensibly: can increase your MPG 5 – 33%(.18 – 1.20/gallon)
2. Observe the speed limit: can increase your MPG 7 - 23%(.26-.84/gallon)
3. Keep your car maintained: can increase your MPG up to 4% (.15/gallon)
4. Maintain properly inflated tires: can increaseyour fuel MPG up to 3% (.11/gallon)
5. Use recommended grade of motor oil: can increaseyour fuel MPG up to 2% (.04/gallon)
6. Avoid unnecessary idling: can cost you up to 3cents per minute without AC and 4 cents per minute with AC on.
7. Remove unnecessary weight from your car: unloading 100 lbs could save you .04 - .07per gallon
8. When replacing your vehicle look at the fueleconomy rating to get more MPG and save you $$$.
9. Where possible combine trips to cut down onmiles travelled. Pick up the grocerieson the way home from work rather than making a special trip.
10. Walk or bicycle where possible. This is a great way to cut costs and improveyour physique!
Tell us how you are coping with the increased costs in fueland how you are adjusting your spending or activities to make ends meet! Your ideas can increase savings for everyone!
Courtesy of Lori Irwin
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