Today on MoneyLife

Today, Chuck Bentley and Dave Ball discuss ways to save money at the gas pump.

The first thing we have to do is change our driving habits, slow down and avoid jackrabbit starts. A great source for other gas savings tips is Edmunds.com.

Here are 10 ways to waste gas from Edmunds.com:

1. Step on it! (exceeding the speed limit can cost you 31% fuel efficiency)
2. Use e85 (Ethanol) gas (it gives you 7 miles per gallon less than regular gas)
3. Idle (0 miles per gallon to be parked with car running, turn engine off if you’re going to be there more than a minute)
4. Enter the stop light drags (burn more gas when you accelerate quickly)
5. Cruise (driving around for no other purpose, have a plan when your drive)
6. Choose maximum performance tires (safer but require more energy to move, err on the side of safety)
7. Never use your cruise control (cruise control helps you maintain a constant speed)
8. Use regular gas in a car that needs premium (check your owner’s manual, test for yourself)
9. Keep your trips short (engines achieve maximum efficiency when warm, plan for longer trips)
10. Ignore maintenance (regular maintenance increases fuel efficiency, longevity, and value to your vehicle; don’t expect increasing your tire pressure to make much of a difference in fuel economy; instead, replace air filter, oxygen sensor, and have suspension and alignment checked).
    

Other gas wasters incude having a wing (spoiler) on your rear deck/trunk lid, roof rack, running boards, fender flairs, brush guards. All of these are cosmetic and create wind resistance.

To determine if it’s worth it to drive out of your way to the gas station with the cheapest price, determine the gas mileage of your car and calculate how much it costs you to drive per mile. For every mile you would drive out of the way, you need to be able to save more than that on your total gas purchase.

For most people, it’s not worth it to drive miles out of your way. You can find the lowest gas prices in your city by checking GasBuddy.com.

However, whatever you have to spend to get the car with higher fuel efficiency, you’ll have to make up through the gas savings.  Depending on that amount, it could take a long time to recoup the cost of buying a new, higher fuel efficiency vehicle..

It's still too early for most people to take the leap and buy a hybrid car. Hold on to what you have and don’t make a hasty decision. Give technology a chance to improve gas efficiency even more.

On the other hand, now is a great time to buy certain vehicles, such as trucks, while their prices are low.

Chuck answers your email questions on tomorrow's program. Don't miss it!

Got a question for Chuck? Email him at ChuckBentley@Crown.org.

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Other Resources:

• ABCs of Money Package
• Career Direct
• God's Pinciples for Operating a Business
• Business By the Book
• Crown Mvelopes