You can’t escape summer! Whether you’re baking under the sun at your local pool on the weekends, or setting off on adventures with your kids during their summer break, the changing season and warmer temperatures signal that it’s summer break. Just like summer impacts basically everyone, so does the price of a gallon of gas increasing at a previously unseen rate. Even electric vehicle owners aren’t immune to the rising prices- though there’s gotta be a palpable sense of relief every time you plug your car in! The US crossed the $5 a gallon threshold a couple weeks ago and who knows where the prices are headed from here?! But we’ll talk about why gas prices are unrelenting right now, we’ll share some of our thoughts on fossil fuels in general, and then we’ll the majority of this episode talking through the many steps you can take to lessen the pain you’re experiencing at the pump.
- IRS – A reminder if you have a small business that the IRS has increased its mileage rate for the rest of the year.
- Apps – If you’re not already using them, the Gas Buddy and upside apps are worth looking into.
- Credit cards – To earn 5% back at the pump you’re going to have to pick up the Citi Custom Cash credit card. You can also get 5% with the Sam’s credit card, but that one effectively has an annual fee since you have to be a Sam’s member. Head here to start earning 5% back at the pump, without paying an annual fee!
- Car wrapping – Wrapify and Carvertise are the legit companies we know about.
- EVs – While we think that EVs are the future, they do have their tradeoffs.
- Extra cash – And regardless of where you are on the path to financial independence, we believe in the responsible use of credit cards. It’s smart to utilize the additional benefits that credit cards offer- for instance the 60,000 points that come with the Chase Sapphire Preferred Card. That’s $750 when you redeem through Chase Ultimate Rewards! This is no joke- I’ve already done this myself which we discussed on a recent episode after I met the initial spending requirements of $4,000 over 3 months!
During this episode we enjoyed a Really Big Bird by Trillium- a huge thanks to Sean for sending this one our way! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
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