The US government estimates that Americans will save about $550 in 2015 because of low gas prices. For those that travel a lot personally and professional the savings could be even greater. So, now the question is…what to do with all that extra money? If you’ve been budgeting $300 a month and now you are spending half that on gas you could be saving for your next vacation, home improvements, paying off debt or car repairs and upgrades.
Lower Gas Prices – Putting Extra Money In Your Pocket!
SAVE: With the extra money you have after filling up your tank, you could put that right in the bank to save up for a vacation or just a rainy day.
PAYING OFF DEBT: Did you rack up some credit card bills during the holidays? Now is the time to pay a little extra on your bill to get those cards paid off sooner.
SPEND: There are many ways we could spend our money, I have a few ideas of mine own. Home improvements and or car improvements is a great responsible way of spending that extra cash you have monthly because then you are creating equity in both.
INVEST: Investing in your extra cash can be a option too. One thing to invest in is your vehicle.
Got a car that is older and could use some updates? Live in an area where theft is high? Invest in a car security system. The possibilities are endless. How are you spending your extra cash that you are saving at the pump?