30
Apr
2008
Posted by Steve Rhode as Saving Money, Transportation
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I’ve seen more articles recently about people selling gold for gas cash. Old rings, old fillings and other jewelry have been sold to raise cash to help make ends meet.
At Craigslist the number of for-sale listings has soared 70 percent since last July. In March, the number of listings more than doubled to almost 15 million from the year-ago period.
I’ve seen it all before, the coin and stamp collections go, old DVDs and even grandma’s beloved teakettle, all to raise cash to pay the bills. But that is a flawed strategy.
Once all the stuff is sold on eBay and Craigslist, what do you sell next? Nothing. It is the same old problem that people face when they drain their savings and investment accounts to pay bills they can’t afford.
The shame is that the energy is misdirected at times like this. Sure, selling old Hermes leather jackets and Versace jeans will help, a bit, the real mission focus should be on addressing the primary problem of expenses exceeding income.
Unless you can get your life to fit within your income, the only thing that will happen is that you will sell all your crap and still be in the same, difficult and uncomfortable position.
I’m stunned watching how fast prices for gas and fuel are going up. Even the cost of items at the grocery store are rising faster than a good stock market investment.
In a recent trip to D.C. the price of gas went up 20¢ per gallon between the day I drove up and came back and that was only two days apart.
I learned that since I left the UK, less than a month ago, the price per liter for diesel fuel has risen almost 20% from £1.05 to £1.28. I hope you realize that a gallon of diesel in the UK now costs about $9.68.
I find myself being much more conscious when driving to increase fuel mileage. I’ll admit the driving tips and suggestions do not make you more manly, but they do make you richer. These are not things you’ll see them doing on the Speed channel or ESPN but having more money in the bank can make you feel just as virile.
Hypermilers
Hypermilers are MPG dorks. But learning some tricks from the Hypermilers, that really work hard, can significantly increase fuel mileage in the car you have right now. You don’t need to buy a Toyota Prius to start getting good mileage. In fact, even if you do buy a Prius, but don’t change your driving habits, you’ll be one of those people bitching about spending all the money for a Prius and not getting much better MPG.
I admit, trying these changes to my driving style felt awkward at first but you can easily get used to it. Trust me, I’d rather feel like a dork and keep extra money in my pocket.
By following these tips you should be able to increase you mileage in the car you have right now by about 25% or more. If your car is currently getting a combined mileage of 17 MPG, you can be getting 22 MPG by this time next week. On a typical 15 gallon gas tank you can change your maximum range from 255 miles to 330 miles, for the same amount of money.
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One Response
Steve Odierno
April 30th, 2008 at 5:57 pm
1My father and I were just discussing the sad trend of people trudging to the pawn shop to sell items merely to pay their bills. I agree with you that the strategy is flawed, but I suppose those in the situation are using the “any port in a storm” approach. And you could not be more correct with regards to income versus expenses. People simply have this burning desire to live beyond their means. I abide by a financial philosophy passed along to me by my father-in-law. He said, “Never buy anything that you cannot afford.” This sounds overly simplistic, particularly with the exotic forms of financing available on everything from furniture to homes. But I apply it to each major purchase-decision that I encounter. I ask myself, “Can I afford to buy this right now?” Not if I hit the lottery. Not if I make more money next year. But can I purchase it outright (or very comfortably afford a reasonable payment plan while still saving money) today. If the answer is an emphatic “yes,” and my family and I need (or really want) the item, I will make the purchase. But if the answer is anything but, I simply keep the money in my pocket.
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