I have struggled to get into the frugal mindset in all aspects of my life. Occasionally, it’s just easier to stop at the gas station closer to my house rather than drive another half mile to the other one with cheaper gas. However, the place where I see it is the toughest to get into the frugal mindset is your automobile. Americans are stuck in the car payment rut. we also think generally that a car with 100,000 miles on it needs to be traded in. Cars are where there is a huge opportunity to save money in your budget. I have some tips:
- Establish a relationship with an oil change establishment that has a rewards program or mailed coupon program for repeat customers. (Or even better, change your oil yourself if you are so inclined)
- Maintain your car and factor in the expense to keep it running for a long time. At 90,000 miles, make the decision to invest some money in it to keep it running all the way to 180,000. Resist the urge to go along with the American addiction for new cars.
- Make opportunistic purchases of vehicles. A friend of ours waited until gas was the highest to go buy the used vehicle that fit his family’s needs. They needed a big SUV for their large family. When gasoline was at $3.30 a gallon, the salesmen would do literally anything to get a used Toyota Sequoia off their lot. Our friend not only got the vehicle for less than market value, but also negotiated some maintenance for free.
- Get rid of your loan. Make extra payments. There are two types of people in the world: (1) Those who pay interest and (2) Those who collect interest. Be the person who collects interest.
See this link for additional ideas on 13 Frugal Ways To Save on Car Ownership.