Happy Monday, everyone! Here is the latest post in my Annual Expenses series. If you didn’t see the introduction post that summarizes all of my expenses, you can check it out here. I’ve been going into detail on one category each Monday. Over 2017 and 2018, I spent an average of $2800 on gas. This is largely because I drive a ton for work and for my other business activities. However, if I drove a typical number of miles in a year, I believe I could reasonably cut this expense down to about $1200. Are you spending more than that? Here are some ways you can improve the situation, form most effective to least.
1. Drive a fuel efficient vehicle.
Yes, this one is pretty obvious. But it’s the biggest reason most people overspend on gas. How many pickup truck owners do you know who do almost nothing but drive to work in them? How many SUV owners do you know who rarely have more than one or two passengers? These people are spending a fortune owning these vehicles – in many more ways than simply filling their gas tanks. I’ve been without my truck for almost two years now and guess what? I’ve managed to find ways to get by without it in most cases and when that hasn’t been possible, well, that’s why Uhaul and their ilk exist. Even some home improvement stores have trucks available to rent now. Renting a truck even ten times a year is much, much cheaper than owning one. So my advice is to think long and hard about why you’re driving what you are and whether you really need a vehicle that size. If you can’t get at least 30mpg on the highway and there isn’t a very good, consistent reason for it, you’re wasting a lot of money. In my case, I get roughly 30mpg on AVERAGE and drive a car with just shy of 300hp. Automotive technology has come a long way and compromise isn’t nearly as painful as it was years ago.
2. Keep your driving miles down.
There are lots of ways to do this. Carpool, combine multiple trips into single ones with multiple stops, skip going to things you didn’t really want to do anyway, etc.
3. Maintain your vehicle appropriately.
There is a good chance a poorly maintained vehicle will get correspondingly poor gas mileage. This is one way that a fair portion of your maintenance costs will literally pay for themselves. And that’s not to mention the money you’ll save in depreciation since a car that’s maintained ages more gracefully and is worth more money. Here is a post I wrote about basic vehicle maintenance.
4. Drive gently. If you’re adventurous, try some hypermiling techniques.
I’m not going to go into the extreme stuff here, although
you should know there are people who can get literally double the EPA rating
out of some cars. You can improve your gas mileage quite a bit just by accelerating
gently, maintaining a good following distance, minimizing brake use (which is
strongly related to following distance), etc. Driving your car like you’re on
an imaginary race track isn’t going to save you much time anyway since you will
still have to deal with the same (often horribly timed) stoplights and idiots
going the speed limit in the left lane that everyone else does. And besides,
any time saved will get eaten up pretty quickly when some
asshole traffic cop lights you up or you get into an accident. Driving
aggressively really isn’t worth it and it has a devastating effect on your gas
5. Buy the cheapest gas you can find.
I wrote a post with some more tips about this recently so check it out here if you missed it. Gas is the ultimate commodity item and yes, provided you’re doing an apples to apples comparison in terms of octane rating, it’s the same no matter what station you buy it from. I can’t believe how many people swear by the opposite. If you don’t believe me, drive by your local distribution center (likely in the middle of nowhere) and check out how many different logos are on the sides of the tankers – which are all lined up to be loaded with the EXACT SAME GAS.
6. Use credit card rewards to your advantage.
There are multiple credit cards that pay 3% on gas. Additionally, “category cards” like Chase Freedom occasionally pay 5%. This is free money, people. But if you don’t want it, no problem. That’s just more for me.
7. Go to your furthest away destination first.
While you’re planning your multiple errand trip after reading point number two above, consider this. Cars run most efficiently when they’re fully warmed up and this takes some time, depending on your climate. This is why if you live in a place with hellish winters, your winter gas mileage is substantially worse than in the summer time; it takes cars longer to warm up. Anyway, if you drive to your first destination a few miles away, then a few more miles, then a few more, etc, and turn your car off each time, it may never get fully warmed up and you may be losing tons of gas mileage. Contrast this with driving twenty miles to the furthest destination, completely warming up your engine in the process, then making your way back towards home. You want to be driving the highest possible percentage of your miles with your car running as efficiently as possible. Another way to plan out your trips is to avoid rush hour like the plague. Stop and go driving is bad for both your gas mileage and your car’s longevity. Few of us live in a perfect world, but most of us still have some options available that can make a big difference with things like this.
8. Regardless of climate, DO NOT leave your car “warming up” in your driveway.
I don’t know what they were doing thirty years ago because I’m not that damn old. But I do know that today’s cars are designed to run right away and also that idling is bad for them and should be kept to a minimum. I know it gets inhumanely cold in some places – for example, Wisconsin. But if you punish your car for that by leaving it sitting idling, you’re going to take a ton of life out of it in the long term and waste a ton of gas in the short.