Prices at the pump have increased for everyone across the Midwest, but different driving habits mean that some households are being hit harder than others.
According to one recent survey, around 5 percent of households in Minnesota, Wisconsin, North Dakota, South Dakota, and Montana report using no gasoline. Instead, they bike, walk, take public transit, or drive electric vehicles. They may be indirectly affected by rising gas prices but don’t experience gas pump sticker shock.
And — the effects are not just felt across lower-income families and households. Fuel costs are affecting many people across the Midwest who are feeling the pinch; just not with the same intensity.
Of course, we’re all affected by the residual conditions higher gas prices have on our daily lives – increased costs at the grocery market, postal and delivery fees, or supply chain shortages. But, if we’re just talking now about the immediate budget-biting cost of increased fuel costs, we want to share a few ideas with you that could help you balance the budget a bit more.
For individuals who have access to community transportation, who can easily bike to and from work, who have electric vehicle options, or have a work-from-home alternative career the bite may be a bit smaller than it might be for a subcontracted driver or delivery person who has no other alternatives.
And, that’s just one comparison example.
The goal is to find ways to help reduce the pain at the pump affecting your operational budgets.
So, here are our top 5 tips to get you started…
We understand some of the recommendations may work better for some than it will for others, but we think it's a good place to start.
1.) Drive less if you can — Walk, bike, or take public transportation instead of driving. You’ll save money on gas and help reduce air pollution and traffic congestion.
2.) Drive more efficiently – Slower acceleration, avoiding periods of high traffic or rush hours, and maintaining proper tire inflation can all help you save gas.
3.) Shop around for gas – Prices can vary depending on the station and even the location, so it pays to do a little research to find the cheapest gas in your area.
Check out apps like Gas Buddy which share real-time user-reported gas pricing in your local area so you can find the least expensive options near you.
Or, use an app like Upside to get cash back at local gas stations, participating restaurants, and grocery stores. One client recently boasted about adding an extra $126 to her checking from the rebates in her Upside app!
4.) Carpool or ride share – When you team up with other people for your commute, you can cut your gas costs in half – sometimes more.
5.) Invest in a fuel-efficient vehicle – If you’re in the market for a new car, choose one that gets good gas mileage. You’ll save money every time you fill up. Work with someone like the Twin Cities-based Car Buyer’s Advocate to help you find the best vehicle options at the best retail values across the country.
Looking for more ways you could ease the burden on your budgets? We can help.
LOOKING FOR MORE GREAT WAYS TO SAVE? Check out this article with our top 6 savings apps!