Fredericksburg Leader

HOW TO BUDGET FOR GAS IN 2023

While the New Year is known for champagne, celebrations and fireworks, it also comes with some important responsibilities, like budgeting. Creating a fresh budget for a new year can be daunting, but there are some simple ways to break down your spending and start fresh. 

American families are projected to spend in the ballpark of $2,500 on gasoline this year. Though the price spikes of 2022 are (hopefully) behind us, we’ve all learned that it’s especially important to take gas costs into account and plan ahead of time for unexpected events. Check out our best tips for budgeting for gas in the new year below.  

TRACK YOUR SPENDING 

It can be difficult to know how much you regularly spend on gas. Using tools to monitor your expenses each time you fill up can help you establish a baseline of how much money you need to save and how much you spend on gas every month. Here are a few of the tools that can help: 

• Fuel Logs – GasBuddy’s free fuel logs feature in the GasBuddy app lets you track your spending and your fuel mileage between fill-ups. You can manually enter your fuel log each time you fill up and have an easy way to access your gasoline costs over time. (PRO TIP: If you have a Pay with GasBuddy card, you can automatically get fuel updates every fill-up. Just enter your mileage the first time in the app.) 
• FuelEconomy.gov – the United States government’s free tool to find out your fuel costs. It can also help you know how fuel efficient your vehicle is. 

CALCULATE YOUR TRIP EXPENSES 

Keeping track of regular fuel expenses is great, but what about when you need to make a bigger trip? Luckily there are tools you can use to calculate your gas cost for a road trip, or an extended commute based on your car’s make and model, current gas prices, and gas stations along your route. 

• Trip Cost Calculator – GasBuddy’s Trip Cost Calculator is an easy-to-use gas estimator for your trip. Select your make and model as well as your starting point and your destination to get the exact amount of money you will need for your trip, along with the best gas stations to stop at. 
• Road Trip America – Road Trip America has a trip cost calculator that works by inputting your total number of miles for the trip, the average cost of gas, and your car’s MPG. 

FACTOR IN SAVINGS TOOLS 

Sure, the price of gas in your area is a great way to gauge what you’ll have to pay when you fill up, but it’s important to remember that here are savings tools at your disposal to help you pay less. For example, if you sign up for the free Pay with GasBuddy card, you can factor in at least 5 cents of savings per gallon, per fill-up. We’ve listed a few of our other favorite savings tools below: 

• Loyalty programs – Whether you’re a regular at a particular station or prefer to mix it up, loyalty programs can be a great way to get cents off on your fuel purchase. Shell Fuel Rewards is one of our favorites, and most brands offer a similar program.  
• Cash discounts – You might be saying, “Who pays with cash anymore?” and you could be right, but having some spare paper in your wallet might just save you some money at the pump. Check stations near you for cash prices, which are often less than credit or debit prices because station owners can avoid paying associated fees.  
• GasBack Marketplace – If you’re an online shopper, don’t forget about GasBuddy’s GasBack marketplace, where you can earn free gas by shopping at your favorite retailers through the app.  

Original source can be found here