Sunday, May 13, 2012

Financial IQ: Improve fuel cost

Alerion Supermileage at SAE 2009Alerion Supermileage at SAE 2009 (Photo credit: junado)
Financial IQ Philippines Quick Hit(s):

Some simple ways to maximize your car's fuel consumption efficiency.  You may also want to consider using a slightly higher fuel octane than unleaded.  Though cost is a bit higher, it may return you a better mileage per kilometer.


With gas prices hovering around the $4 per gallon mark, many consumers are finding their budgets stretched thin.


"Some people have no idea how much they're spending on gas because they're so disgusted by an increasing expense that they have no control over," says Dorothy Barrick, group manager and financial counselor for Farmington Hills, Mich.-based credit counseling organization GreenPath Debt Solutions.


While you can't control what your local gas station charges, here are five steps you can take to save on gas and reduce the amount you spend to fill up at the pump. 



  • Take out your owner's manual
  • Remove junk from the trunk
  • Adjust your driving habits
  • Take advantage of gasoline apps
  • Cash in on rewards and loyalty programs



Anyone can cut their spending on gas with a little forethought and planning. "Very small incremental items add up to make a larger difference," Schaffels says.


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