AICCCA Advises How to Make Room in the
Budget for Soaring Gas Prices
Fairfax, VA - September 9, 2005 — The rapidly rising price of gas and oil is making headlines on a daily basis, but no one is hit harder by the escalation than those families living paycheck to paycheck or those on a fixed income. In addition to the actual amount spent to fuel the family vehicles is the rise in price for consumer goods that are trucked. The trucking industry passes their rising fuel costs on to consumers in the form of higher prices for everything from toothpaste to tires.
"With most people spending double the amount they used to filling their tanks, it requires careful planning for consumers living paycheck to paycheck or on a fixed income to absorb those costs in their budgets," said AICCCA President Dave Jones.
AICCCA offers the following tips for those consumers feeling the pinch at the pump:
Avoid charging gas. Paying cash is best, but if you do use a gas credit card, have a plan to pay the balance monthly. Carrying a balance could double again the price you are paying per gallon of gas.
Explore other options for getting around. Share rides with your neighbor when you run errands, carpool to work, ride the bus or take advantage of other mass transit opportunities. Consider riding your bike or walking to work or for errands. These options apply to getting the kids to school as well.
Consolidate your errands. This will save not only gas, but also your time.
Cut back or eliminate eating out. Brown bagging your lunch if you are used to eating out is a fairly painless way to cut back. Pack a picnic and eat at the local park with the family when you feel the need to go out.
Cut coupons and use them. Grocery shop with a list and on a full stomach.
Shop around for the best gas prices. Use caution here, though, so that you don't find yourself driving across town for a few cents. You can easily drive through any savings you may have realized.
Consider a more economical vehicle. However, before you sell a low mileage vehicle for one that is more fuel-efficient, do the math to be sure you will really be saving money. The difference in filling up an SUV as opposed to a small compact car is at the most $30. If a different vehicle means you will be taking on additional debt, you will only be trading one cost for another.
Cut out the extras. If you have cable TV, cell phones or Internet access, go to basic service and cut out any premiums. Utilize your public library for movie rentals. Check out free entertainment offered in the community.
Seek help from an AICCCA member agency if you are overwhelmed by your current financial situation by calling (800) 450-1794 or visiting www.aiccca.org.
Founded in 1993, Association of Independent Consumer Credit Counseling Agencies (AICCCA) is a national membership organization, established to promote quality and consistent delivery of credit counseling services. AICCCA and its members are focused on improved creditor relations, efficient processes and advanced technology to best serve clients and creditors. AICCCA members are independent nonprofit agencies that advocate for debtors, counsel millions of consumers annually nationwide and provide debt management services to consumers with excessive unsecured debt. For more information or to contact an AICCCA member office call (800) 450-1794 or visit www.aiccca.org.
