5 Simple Ways To Take Advantage of Lower Gasoline Prices

For a while now, gasoline prices have been relatively low. Although you wouldn't feel it if you aren't a car owner.

Fares are still the same. And we can hardly expect noche buena items to really get cheaper as Christmas approaches. Of course prices in general are a little cheaper due to the numerous sales. But that would have been the case even if fuel prices had risen.

If you're a car owner though, it's a pretty nice thing that prices are down. It can give you a little more breathing room in your budget - until the prices inevitably increase, that is.

It's too bad gasoline prices won't stay low forever. But there are ways for this temporary rollback to benefit you permanently.

For one, that road trip you've been planning is a little more affordable right now. Sure it's an expense, but memories are forever, right? I love saving money, but experiences are the only things that really last your entire life. It's not a bad deal as long as you can afford it, and you don't overpay.

For most though, it might be better if you do something else with it. Like, put it in a bank.

Sure, you've read that's a bad investment (returns are so low!). But it's the practical way of storing your emergency fund, unless you like storing it at home and guarding it yourself. So just add whatever you save to your emergency fund, it might come in handy someday.

You can even make that doubly useful by placing your cash in a bank you're likely to get a home loan from. Building a good credit history can help you get better terms when you take out a home loan. Something that can help you "level-up" from car-owner to home-owner.

If that isn't your plan or you already own your home, you can instead buy stocks. Either through UITFs, mutual funds, or buying stocks directly, it doesn't matter.

Sure, stocks aren't necessarily cheap right now. And gas prices might rise and return to previous levels (and more) before your stocks can turn a profit.

But this way your money will keep growing for a long time. Not bad for money you would've spent without especially enjoying it, right?

Alternatively you could buy a book or attend a seminar. Anything that can increase your knowledge and help you make money - either by doing better at your job, starting a side business, or making smarter investments. As I've said before: invest in yourself first. It's really the best investment anyone can make.

(P.S. And in case gasoline prices rise again, check out these fuel efficient driving tips. That way you can still save on gas and get these benefits.)

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photo credit: wwnorm via photopin cc

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