How to lower your gas price

Many people have started using gas prices application to find out rates in their areas. In my area, I was quite shocked to find that gas rates varied by 70 cents a gallon between two stations not even 10 miles away from each other. Back in the old days, you could save thousands thanks to the cheaper gas. Now, thanks to the War in Ukraine with Russia, gas prices are through the roof. We have been getting daily spikes ever since it happened. We believe that now is the perfect time to be careful of where you will be filling up your gas and how much you will spend. If you take some time to form a good plan, you can save enough to cover an extra cost of a car payment every year and even more! Who knows, now when your significant other asks to go somewhere expensive, you might as well take her to the local gas station. So in this article you discover how to lower your gas price.

We recommend you use the following strategies and tips to get the most out of your money and save possible fortunes on gas. Who knows, you just might have to go electric if gas prices keep increasing to lower your gas price.

  1. Use a gas price app

If you only do one thing, make it this. According to a new survey by GasBuddy, the most money-wasting thing you can do is go to close or familiar gas stations for convenience. A gas app will rapidly show you the lowest prices in your region or along your desired path if you want to shop around while looking for it. You can save 20 cents by gallon like this, and when you fill your tank up, this will make a massive difference to both you and your car.

While GasBuddy is the most well-known fuel app, there are several to choose from. You can also filter the findings to see the pricing of various fuel grades as well as which stations sell diesel or any other special type of gas. Using the app will certainly guide you to lower gas rates.

  1. Choose a good rewards program or credit card

Draining all your money in your accounts to the savings is the most difficult thing you will have to endure. Here’s a quick rundown of the key criteria to consider when selecting the best gas-saving credit card

Annual charge: An annual fee on a credit card might soon deplete your initial savings. Nonetheless, if the card also provides significant discounts in other areas, it may be worthwhile.

Reward caps: Certain gas expenditures are capped on a quarterly or annual basis. Determine how much you spend and whether it is covered by the card’s rewards cap.

Gas station: Some cards reward you for everything you buy at a gas station, while others only credit you for purchases made at the pump.

Remember to pay off your credit card bill in full, or your gas savings may be wiped out by interest rates.

  1. Buy from a warehouse club

If you don’t mind the drawbacks of subscription fees and long lines, shopping at a warehouse club is a terrific method to save money on gas. Some of your local Costco can be selling ordinary fuel for 45 cents less per gallon than the average price in my county, according to AAA. However, keep in mind that you must compensate for a $60 annual membership cost, and long lineups indicate that you are evaluating your time against your savings. Even so, you might want to go in the mornings because the pumps open much earlier than the store.

  1. Buy the right fuel for your car

Buying a higher-grade fuel type isn’t always beneficial to your vehicle. Is it “suggested” or “needed” in your instruction booklet or on the gas cap? Premium gasoline may increase performance and fuel economy in automobiles that only recommend it. This is the advice given to us according to Greg Brannon, AAA’s head of automotive engineering and industry affairs.

If your vehicle does not require a premium, though, don’t bother. When you buy lower-grade fuel, you save a lot more than you would from your car’s overall fuel economy performance.

  1. Pay cash

The cash pricing is usually lower than the credit or debit card price at most gas stations. This could imply bringing paper money (remember that?) and paying the cashier on the inside. However, using a debit card rather than a credit card will get you a cash discount at select stations.

If you use a debit card, double-check that you’ll get the discount when you start pumping, as not all stations accept it. Remember that debit card purchases are less secure than credit card transactions since fraudsters could steal your PIN code and drain your bank account.

  1. Use the recommended grade of motor oil

According to Edmunds, choose motor oil that meets your vehicle’s manufacturer’s specifications and certification criteria, and then change it according to the manufacturer’s recommendations. According to the US Department of Energy, you can boost your fuel economy by 1 to 2 percent by doing so.

Also, watch for the words “Energy Conserving” on the API performance symbol when purchasing motor oil to ensure it contains friction-reducing compounds.

  1. Consider the EPA rating of your next car

When it comes to fuel efficiency, vehicles have gone a long way, and you could notice any difference the next time you purchase or lease a car. A vehicle with a high EPA rating will get at least 30 miles per gallon. Electric vehicles typically have an extremely high EPA rating. The Tesla Model S Long Range, for example, can reach 111 miles per gallon.

This gas price issue is an outstanding demonstration of why you should pay close attention to the EPA ratings while purchasing a car if you’re in the market for a new vehicle.

  1. Remove excess weight from your car

Many guys have salt and sand items in their trunks. It’s an old-fashioned manner of dealing with impending blizzards or icy conditions.

However, based on the percentage of excess weight related to the vehicle’s weight, eliminating the extra 100 pounds held in your car will enhance your miles per gallon by around 1%. According to the US Department of Energy, the effect is less of an issue with smaller cars.

  1. Ease up on the gas and brakes

Per the Department of Energy, your gas mileage declines substantially once you exceed 50 mph, costing you an average of $0.23 per gallon for every five mph over 50 mph. The more gas your engine consumes, the harder it works. Sudden increase and high-speed driving put additional strain on your engine, causing it to consume more gasoline.

In addition to rapid acceleration, abrupt braking burns a lot of fuel. This is why it is advisable to coast to a red light or down a hill.

  1. Make sure your tires are properly inflated

Tires release the pressure over time, so you should inspect them at least once a month to make sure they’re properly inflated. Check your owner’s manual or the placard in the driver’s side doorjamb for your car’s ideal PSI rating. It’s normally between 30 and 35 PSI.

Under-inflated tires reduce gas mileage by around 0.2 percent with every 1 PSI drop below the recommended PSI, and they might shorten tire life.

  1. Keep your engine properly tuned up

According to the Department of Energy, the short-term expenditures of setting up and maintaining your car can enhance your gas mileage by an estimate of 4%. However, results vary depending on how well your car is currently operating. Fixing a major maintenance issue, such as a malfunctioning oxygen sensor, can increase your mileage by up to 40%.

Check your car’s manual to see how often you must get a tune-up, as this will vary depending on your vehicle’s age and model. An examination every 20k to 30k miles is typically advised for modern vehicles.

  1. Avoid storing cargo in your vehicle

When you add cargo containers or bike tracks to the roof of your car, you increase the vehicle’s air resistance, which means your engine has to work more to keep up with speed. According to the US Department of Energy, aerodynamic drag can boost fuel consumption by up to 20% on the highway.

According to the Department of Energy, a large roof-top cargo box affects fuel economy by 2 percent to 8% in city driving and 6 percent to 17 percent on the highway. If you require additional storage, consider installing cargo area boxes, which affect fuel economy by about 1% to 2% in city traffic and 1% to 5% on the freeway.

These are all of our advice to loweryour gas price in your car! Some of these tips to lower your gas price are a long shot, but they are worth it if they can save you a ton of money. Not everyone is out there to care for you, but we most certainly do! Take care of your car as it can even last a lifetime if you manage it properly.

5 High-Interest CDs

For savings that are better kept in the bank than invested in the respective market, certificates of deposit always offer a way to earn more than you can with a standard savings account. They also come with a virtually risk-free return that is reliable, predictable, and safe. CDs can be a great way to save and grow your money at very little risk.

One of the most common CD terms, 5-year certificates of deposit, can easily be found at hundreds and thousands of banks and credit unions all over the country. But the question is what different institutions pay on these CDs differs greatly. Moreover, some have interest rates of about less than a quarter of a percent, while the best CDs nationwide pay upwards of 1.25 percent.

With a one-time deposit of as little as 500 dollars, you can easily open a CD account. However, some banks do not even have a minimum deposit requirement. When you deposit your amount, it is locked in for a predetermined term and a fixed annual percentage yield (APY), usually higher than what you would get from a high yield savings account.

Before choosing a CD account, it is very important to consider how soon you will need the deposited cash, along with the rates and terms provided by different financial institutions.

Below are the best five high-interest CDs rates for five years;

  • Colorado Federal Savings Bank: 1.60 percent APY
  • PenFed Credit Union: 1.80 percent APY
  • Teachers Federal Credit Union: 1.65 percent APY
  • Popular Direct: 1.65 percent APY
  • KS State Bank: 1.90 percent APY

The detail of these CDs is as follows;

Colorado Federal Savings Bank – 1.60 percent APY

  • Term (month): 60
  • Minimum deposit: 5,000 dollars
  • Early withdrawal penalty: Almost six months of interest
  • About: Colorado Federal was established in 1990 and is currently headquartered in Greenwood Village, Colorado. In addition to serving the communities across the entire state, it also serves customers nationwide with online banking.

PenFed Credit Union – 1.80 percent APY

  • Term (months): 60
  • Minimum deposit: 1,000 dollars
  • Early withdrawal penalty: if it is closed within one year, then 12 months of interest. Suppose it is closed after one year, 30 percent of the full term’s interest.
  • Membership: By keeping 5 dollars in a member savings account, anyone can join PenFed.

Teachers Federal Credit Union – 1.65 percent APY

  • Term (months): 60
  • Minimum deposit: 1,000 dollars
  • Early withdrawal penalty: Almost nine months of interest
  • Membership: By simply keeping only one dollar in a membership savings account, anyone can join Teachers Federal Union.

Popular Direct – 1.65 percent APY?

  • Term (month): 60
  • Minimum deposit: 10,000 dollars
  • Early withdrawal penalty: 2 years of interest
  • About: Popular Direct is an online-only arm of Popular Bank, the U.S. banking subsidiary of popular, Inc, which always serves banking customers in the U.S., Caribbean, and Puerto Rico.

KS State Bank – 1.90 percent APY

  • Term (months): 60
  • Minimum deposit: 500 dollars
  • Early withdrawal penalty: 1.5 years of interest (18 months)
  • About: It was established in 1969. KS State Bank operates six branches in Kansas, and one was established in Phoenix while serving online customers nationwide.

How Does a 5-year CD Work?

Whenever you open an account for a certificate of deposit, it involves agreeing. The agreement is made with a financial institution that you will put a particular amount of money with them in an account that will be sitting essentially untouched in exchange for having a premium on the rate of return. You will also be guaranteed the interest rate for the life of the certificate.

Moreover, Five-year certificates are a beneficial savings vehicle in several situations. For example, if it is expected that there will be a decrease in the national interest rates over the coming few years (i.e., a declining rate environment), it would be useful to look at one of today’s more reasonable rates for the coming five years.

Socking mony away in a 5-year CD may also be a supportive strategy for those saving up for a large financial target. Perhaps it is the money for a down payment on a house. Or even maybe you have money that is saved for your child’s college education, and you will need it for tuition in five to six years. By depositing your money in a CD, you can make sure that it is somehow able to make interest and does not lose principal while also having a mechanism in place to discourage you from dipping into the assets for other purposes.

There is still another reason to open a 5-year certificate. The reason is that you can capitalize on the highest rate you can earn. Since many institutions often pay their highest APY on 5-year CDs, you can stretch for a long-term that will enable you to maximize your return. In addition, five-year certificates are also a crucial component of a CD laddering strategy to lower your gas price.

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