More gas for less cash: Part I

When considering gas prices, you may remember several instances where your parents or grandparents commented on how affordable fuel was in earlier years.

With inflation, geopolitical issues and other factors at play, the chances of gas prices returning to early 20th century levels may be slim to none. As such, you're probably itching to find ways to keep more money in your checking account rather than spending it at the pump.

There are many cost-saving options and strategies you can use to save money on gas. Here are a few:

  • Use an app. If you have a smartphone, you can download one of many apps that are designed to help you find the least expensive gas in your area. Rather than driving from station to station to shop around for the best price at the pump, these apps allow you to comparison shop. This means you're not burning more of your precious gas on the hunt to find a good price.
  • Buy discounted gas cards. There are many vendors that sell cards that hold money for gas. When you buy one of these cards, you pay less than their value. If you buy a $50 discounted gas card, for instance, you may pay only $45. Depending on current fuel prices, those savings can amount to one or two gallons of gas.
  • Get a gas rewards card. Certain credit cards offer rewards programs where the points you accrue can be used at the pump. Consider signing up for one of these cards and use it for your everyday purchases to gain points for your fuel expenses. Additionally, some gas stations offer a their own rewards programs that give you points each time you fill up. After a while, you can earn free gas.
  • Think about where you're filling up. The location of a gas station can affect its prices. Stations near highways, for example, tend to have higher prices. The owners know many travelers - whether from out of state or a few towns away - will desperately need gas and not be interested in deviating too far from the highway to find it. Consequently, their prices are a little more expensive. Avoid these stations when possible. Luckily, the gas smartphone apps can help you find cheaper options that aren't too far away.

For more information about smart ways to manage your finances, contact Landmark Bank.

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