Money Fix: 5 tips for saving on gas costs
Knowing how to manage gas purchases can save on transportation costs. This past year, the average household spent $4,000 to fuel the family vehicle. Credit: Newsday, 2011 / Alejandra Villa
Spending at the gas pump set a record last year. The average U.S. household shelled out more than $4,000 -- about 8 percent of median household income, compared with 3.9 percent in 2002.
According to the New York State Energy Research and Development Agency, Long Islanders are now paying an average of $3.79 a gallon, up 12 percent from this time last year.
Things could get worse. Some forecasters project $4 a gallon as early as spring.
If you haven't been fussy about saving on gas, it's time to get stingy.
Use technology. Sites like GasBuddy.com help you find the cheapest gas station based on your location, and include a map. Foursquare, a free, location-based app, allows you to search nearby gas stations offering deals.
Double discount. If you're a member of a wholesale or big-box club, use its gas stations, which can be cheaper and lead to rewards at the store, advises Aaron Forth of the money management site Mint.com.
Get a gas rebate card. With the Discover Open Road Card you get a free $150 certificate from Restaurant.com after your first purchase, and a 2 percent cash-back bonus automatically at any gas station. Just pay your bill in full each month.
Pay cash. Many gas stations charge a slightly lower rate if you pay cash.
Make small changes. Look for gas stations on side roads; they can be cheaper. Carpool. Replacing a clogged air filter can increase your mileage by 10 percent.
