Author Topic: Saved money on cheap gas? Blow it and just lie on your next financial survey...  (Read 4741 times)

Alternatepriorities

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http://www.cnbc.com/2016/02/15/gas-prices-are-cheap-so-we-eat-out-and-lie-about-it.html?__source=yahoo%257cfinance%257cheadline%257cheadline%257cstory&par=yahoo&doc=103374023

They saved the best line for the end:
"So if you find yourself with a few hundred dollars at the end of the month and end up taking your loved ones to Red Lobster instead of lining your savings account, don't feel too bad—you can always just lie on the next financial survey you take."

We know the right choice but apparently only do it 20% of the time...

slugline

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"For people who bought gas at least twice in the last two years, the savings were more than $100."

I think they should have re-worded this differently. You should have to buy gas significantly more than two times to have the result of more than $100 in savings.

branman42

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"For people who bought gas at least twice in the last two years, the savings were more than $100."

I think they should have re-worded this differently. You should have to buy gas significantly more than two times to have the result of more than $100 in savings.

22 gallon tank
Price a few years ago- $4 a gallon
Price last week when I filled up- $1.35 a gallon

2 fill-ups, 44 gallons = savings of $116.60, easily surpassing $100 with only buying gas twice.

Still, not many people only buy gas once a year, that's very weird.

TheAnonOne

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I don't really get this.

Are people spending so perfectly that at $4/gal they are left with exactly $0 at the end of the month? And now they find themselves with exactly the savings left from cheap gas?

I don't budget, I don't find value in it, so I haven't really "seen" the savings from gas, because we just save it anyway. It is a non-consideration, even though we probably run through 50 tanks a year between the two of us.

Alternatepriorities

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I don't really get this.

Are people spending so perfectly that at $4/gal they are left with exactly $0 at the end of the month? And now they find themselves with exactly the savings left from cheap gas?

I don't budget, I don't find value in it, so I haven't really "seen" the savings from gas, because we just save it anyway. It is a non-consideration, even though we probably run through 50 tanks a year between the two of us.

I think that's what people mean by living "paycheck to paycheck". As the market dropped the last couple of months I've felt an increased sense of urgency to buy more assets... I've read other mustachians are feeling the same but I'm pretty sure we're doing the paycheck to paycheck thing wrong right...
« Last Edit: February 17, 2016, 05:31:03 PM by Alternatepriorities »

KodeBlue

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"For people who bought gas at least twice in the last two years, the savings were more than $100."

I think they should have re-worded this differently. You should have to buy gas significantly more than two times to have the result of more than $100 in savings.
I'm sure it was a typo, probably was supposed to read "twice a month".

Making Cookies

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I drove through "restaurant row" last night on an errand.

Third weekend in a row that I've paid attention to traffic in that part of town.

People are definitely going out to eat at the franchise places. ALL of them were packed. As I went north out of my county to a more rural area last weekend there was a steady stream of cars coming to our town for miles. Eye opening.

coolistdude

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Quick wife! I have money! Let's go out and spend it before it's too late! Otherwise we might spend it on monthly bills!

Learning to say "no" is the most valuable skill I have.

WildJager

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I drove through "restaurant row" last night on an errand.

Third weekend in a row that I've paid attention to traffic in that part of town.

People are definitely going out to eat at the franchise places. ALL of them were packed. As I went north out of my county to a more rural area last weekend there was a steady stream of cars coming to our town for miles. Eye opening.

I got a red lobster gift card over Christmas that I used recently with my wife.  I was amazed at how crowded that place was.  If we ever go out to eat, it's only to fancy pants places for a cheap (well, not cheap per say) thrill.

I was also amazed at how freaking expensive it was to eat their mediocre food.  I guess they have free reign to Jack up the prices as long as people keep buying, but from my perspective the food cost as much as really quality meals from a nice resteraunt.  Blew my mind.

Alternatepriorities

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Quick wife! I have money! Let's go out and spend it before it's too late! Otherwise we might spend it on monthly bills!

Learning to say "no" is the most valuable skill I have.

That reminds me of a conversation I had with a coworker once. Our company was changing from biweekly to weekly pay. I thought "great I can collect and extra week of interest on my pay", but many of my coworkers we're concerned about it. Confused I asked one of them why it was a problem. He explained that getting the money week early would mean spending it before the bills were due...

MgoSam

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Quick wife! I have money! Let's go out and spend it before it's too late! Otherwise we might spend it on monthly bills!

Learning to say "no" is the most valuable skill I have.

That reminds me of a conversation I had with a coworker once. Our company was changing from biweekly to weekly pay. I thought "great I can collect and extra week of interest on my pay", but many of my coworkers we're concerned about it. Confused I asked one of them why it was a problem. He explained that getting the money week early would mean spending it before the bills were due...

This is the same reason why owning a home can be great for some people. It's forced savings in a way for them as they have to make regular mortgage payments. That's money that might otherwise be pissed away.

clarkfan1979

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I agree that a mortgage payment forces people to save.

Making Cookies

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I drove through "restaurant row" last night on an errand.

Third weekend in a row that I've paid attention to traffic in that part of town.

People are definitely going out to eat at the franchise places. ALL of them were packed. As I went north out of my county to a more rural area last weekend there was a steady stream of cars coming to our town for miles. Eye opening.

I got a red lobster gift card over Christmas that I used recently with my wife.  I was amazed at how crowded that place was.  If we ever go out to eat, it's only to fancy pants places for a cheap (well, not cheap per say) thrill.

I was also amazed at how freaking expensive it was to eat their mediocre food.  I guess they have free reign to Jack up the prices as long as people keep buying, but from my perspective the food cost as much as really quality meals from a nice resteraunt.  Blew my mind.

Eating out in some places is getting to be like flying coach. The chair behind you is inches from your's, no room, crowded-crowded-crowded. Cracker-Barrel is one of those places to me, so is Red Lobster. Doesn't matter to me if the food is good or not but if we have to take turns breathing... ;)