Oct 19th, 2008
Ask the Readers: Gas Has Come Down; Has it Improved Your Financial Picture?
With all the gloom and doom about the economy the last few weeks, perhaps the silver lining is the drop in oil prices and the subsequent easing of gas prices. Gas is not cheap, but it’s lots cheaper than it was in July.
I’ve been spending about $200 a month on gas for awhile; it’s quite possible that’ll drop to about $150 or so. That’s $50 more discretionary income a month. The question is, where will that $50 go? WIll I be willing and able to put it into savings? Or is there something else I’d like to spend the $50 a month on. While this is not a ton of money, $50 a month is $600 a year–the same as the stimulus check I received earlier this year (I hate to call it a stimulus payment, since it was really just a partial refund of the taxes I paid for the year).
Has the reduction in the price of gas made your financial picture brighter? Or is the reduction offset by other expenses or the general gloom and doom in the economy?
I was sitting on E and so I had to stop this morning. Recently when I was that low, I was used to paying nearly $50 for a tank in my Olds Alero. I was surprised that it barely topped $33. Not that I’m going to run out and spend that extra $17, but it’s nice to know that I’ve probably way overbudgeted for gas this month and that we’ll have some extra to apply to debt!