Act Like Gas is Still $4 per Gallon, Save a Ton of Money

We all know that, even if gas dips below $1 per gallon, it is only temporary. It won't be long before gasoline will be a major monthly expense again.

I managed to form even better driving habits during the $4 gallon days and I was able to make do with much less driving. As a musician, I decided to tour by train instead of by vehicle. When in the city, I also trip chained, carpooled, and rode mass transit regularly. These decisions kept my bank account balanced. It also helped the Earth's balance. I want to continue this way, but the cheap gas makes it so tempting to get in my Volvo, turn up the stereo, and drive through the hills without a destination.

So here is what I decided to do:

1. I opened up a new savings account, tied to my existing savings account. There is no fee as long as I deposit at least $25 a month into it. My online bank lets me title my accounts, so I simply named this one, "transportation".


2. Whenever I fill up, I notate the basics: gallons used, price per gallon, etc.


3. At the end of the month, I figure out how much I am saving from the $4 gas days, and deposit those savings into my transportation account.


4. I only allow myself to draft from that account for transportation purposes, such as for using mass transit, bicycle gear, repairs, maintenance, train trips, etc. It is also on hand to help supplement my driving in the future when gas will go above $4 a gallon again.


5. Once I reach my savings goal of $1000, further savings will go into a separate account for a separate savings goal, such as a new guitar.

I am already halfway to my $1000 savings goal. It didn't take long, and I didn't have to make any changes from when gas was $4 a gallon. When gas is $4 a gallon, it encourages me to eliminate unnecessary car trips.

This concept is very similar to farming. Store the surplus from times of abundance to use during times of drought. The best time to acquire credit from any commodity is when the supply is greater than the demand.

Depending on your situation, you may find that you would be better off putting your savings towards your mortgage or other debt, rather than starting a transportation fund. That's fine, too. The point is that if you continue to treat gasoline as if it is $4 a gallon, and put the savings into a goal oriented plan instead of more driving, you will be doing yourself and the earth a great service.

Further Reading:
Cheap Gas: Good or Bad?
How to Get Over 100 Miles-Per-Gallon Right Now
How to Go Green: Tech & Transport

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