How to Save Money on Gas: 7 Tips You Need to Know
Let’s talk about how to save money on gas. Welcome back. If you’re new here, my name is Debbie and I am a money coach. I love providing you with tips to save money. I love helping people motivate themselves to be able to save money and enjoy finances, instead of finding them tedious and boring.
Let’s get started with these tips on how to save money on gas.
My first tip for how to save money on gas is location. The location of the gas station makes such a difference. Convenience is always going to be more expensive, so if you are getting gas next to a freeway or a highway, or by an exit ramp, you will pay more than if you got it at the beginning of your trip when you were close to home.
When you get gas is also important. The gas stations figure you’re going to travel more on the weekends, so what they do is – typical business – they jack up their prices. On the weekends you always pay more than you do during the week. But, which day of the week really matters?
Typically, prices go up Thursday night, so they can get you Friday, Saturday, and Sunday. Prices go down Monday morning. So, the best time to get gas at the lowest price is Tuesday, Wednesday, or Thursday morning.
Also, it depends if there is a holiday. For example, the Fourth of July just passed and it fell on a Monday. So, do you think prices went back down on Monday? Nope, they went back down Tuesday morning. When it’s a holiday weekend, take into account that on Friday and Monday of the holiday, you’re going to pay so much more for gas.
3. Credit cards
Let’s talk about credit cards. If you have a credit card that offers you cash back at a gas station, use it. I have two credit cards that give me two percent cash back at gas stations. If you’re going to pay for gas anyways, you might as well get the reward.
Me, being the money coach, I have to say that I am not telling you to continue to go into credit card debt because you’re getting cash back.
But, if you pay your bills every month and pay off your credit card and have it zero, then, as long as the gas price is part of your budget, use the credit card that gives you cash back. That way you make a little extra back, like a discount.
How you pay is also important. Now, I just talked about credit cards, so let’s flip it and talk about which option is less expensive. If you go to a gas station that has one price for cash and one price for credit, cash is always less expensive. You’ll see that if you pay with cash, you’ll save more.
But, there’s another option you may see. It says “Cash same as credit.” You’ll notice the way they worded it, right? Does that mean if you pay with a credit card or with cash, you’re still paying cash value for the gas? What it means is whether you pay with cash or with credit, you’re going to pay for the credit card value of the gas. There’s no lower price.
So, which gas station do you think you’d save more money on? The one that offers you the cash option. Make sure if you plan on using cash, you take it out ahead of time so you take it from the ATM of the bank that you bank at. That way, there are no fees.
Make sure you have the cash you need to cover the cost. That way you save money. So, my last tip was using credit cards, and this tip shows you how to save money on gas using cash.
5. Save with apps
There are apps on your phone that can save you money. I’m familiar with two of them. One is called GasBuddy. What I like about it is that it lets you know, based on your location, what gas stations are near you and the price.
Let's say you need to get gas and don’t want to drive too far, you can see that if you go half a mile this way, Sunoco has gas for this price, or if you go half a mile in the other direction, BP has it for this price. So, you can see which option you will save money on. It’s a free app and it’s so convenient.
Another app that I’m getting familiar with is called Upside. Upside gives you points at gas stations, restaurants, and grocery stores. You can cash those points in for gift cards or cash back.
6. Buy brand name
A little tip to save money on gas is to be careful with non-name-brand gas stations. Sometimes, that gas can actually damage your car. I got that tip from a mechanic who’s a friend of mine. I was shocked because I hadn’t gotten gas from those stations, but I did see there was a little bit of a price difference.
He was like, “Don’t do it. It can actually damage your engine.” I thought when it comes to a choice between saving a few cents on gas or having damage to your engine — I’m going to stick with the name-brand gas station.
7. Empty your trunk
If you tend to carry things in the trunk of your car that can weigh a lot, like a bowling ball, sporting equipment, or anything like that, think about getting it out of your car, and just putting it in when you’re going to actually use it.
The more the car weighs, the more gas you’re going to burn to be able to make the car move. By cleaning out the “junk in your trunk,” you can save money.
How to save money on gas
I hope you guys enjoyed these suggestions for how to save money on gas. What do you do to save money on gas? Leave a comment and let us know.