I might be proved wrong, but save money in the meantime!
September 12th, 2006 | by mbhunter |Gas is sliding. It’s down to $2.29 per gallon in some places around us in Virginia.
I had made the statement that we’d never see $2 gas again, but it looks like it’s heading down there pretty fast, despite my decree. Crude is tanking, so to speak: less than $64/barrel. Now that we’re getting out of prime driving season, a light hurricane season might be enough to give us a gallon for less than two bucks. Even some places on the west coast (where I am now) are below $3.
I’m sure the lower gas prices are a relief to most people, but I still doubt they’re here to stay. Commodites in general have taken a beating recently: gold, silver, and copper, to name a few, are off a bit from their recent highs. Nonetheless, all of these, including oil, are still on the move up over the past year or so.
Which brings me to my savings idea. You were paying quite a bit more for gas only about a month ago, right? Well, if this slump persists for a little while, it’s a good opportunity to sock a little money away. I figure the recent drop in prices is saving us about $10 per week, which is $40/month. Maybe bump up your savings a little big, start an ING Account, or even reduce your debt a little bit!
Something productive for your finances, which before was just going up in smoke!
3 Responses to “I might be proved wrong, but save money in the meantime!”
By DEBTective on Sep 26, 2006 | Reply
You make a lot of sense, baby. Funny thing … I blogged about this same deal this morning. Looks like great minds think alike. Thanks for spreading the word about doing smart stuff with the dough! Here’s looking at you, kid.