According to the Sun-Sentinel, the average American driver is currently saving about $22 on a 15-gallon tank fill up. And if a person fills up once a week, that adds up to an extra $88 dollars a month. Where should that extra money go? Given the fact that experts in the field, all the way up to the president himself, have said that these prices won't last forever, investing in a giant gas guzzler doesn't seem like a viable plan. Instead, look for short-term opportunities that will improve your quality of life in the long run.
Super Practical Ideas
Suggestions like these won't initially seem very exciting, but they could be very rewarding over time. It may even be the case that they become habitual, and you will find ways to continue following them even when gas isn't quite as cheap as it is now.
- Start a savings account, or add to an existing one. If you don't already have a decent amount of money saved up, now is a good time to start. Even if you don't have a clear idea as to what you're saving for, having a financial cushion to fall back on if an emergency should come up is always a good plan. And if you're able to save that $88 a month for an entire year, you will have $1,156 worth of security built up.
Money that could be much needed when you need to put down a down payment on your next car. Even having $500 dollars to put down on a car is better than nothing.
- Pay off debt. Are you paying minimum amounts every month toward high credit card balances? It's a really great time to begin throwing a little more money at those bills so that you will owe less a lot faster. Do you have an older debt that has gone into collections? Set up a monthly payment plan, stick to it, and make that burden disappear.
- Add money to your car payments. If you bump up what you're paying towards your auto loan each month, you'll pay off the loan more quickly and save money in interest charges. You will also reduce your risk of being seriously upside-down in that loan, which will be helpful if you decide that you want to trade the car in before it is paid off.
An Auto Loan Can Help Your Credit
Having reliable transportation isn't a luxury, but a necessity for most people. If it's time for you to invest in a safer, better vehicle, let Auto Credit Express help with the financing. Even President Obama has recently said that it's a good time to "buy a new car or new appliance," and a washing machine won't be very effective in getting you to work or school. We assist people with less than perfect credit in getting the auto loans that they need, so you can confidently fill out our fast and secure application to get started today.