This morning, my alarm jolted me awake at 7 AM. Despite hitting the snooze button twice via Alexa, I grudgingly rose at 7:20. I’m a night owl who stays up far past midnight, which makes my morning rise-time later than most Americans.
While eating my breakfast of toast and Darjeeling tea, my wife discussed the grocery list for the day, a chore we typically tackle two or three times a week. Today was grocery day. The essentials like bread and eggs were critical due to their scarcity in our kitchen. “We need these items for tomorrow’s breakfast,” she reminded me. Noting her concerns, I promised to handle the grocery run with our son after work.
However, she cautioned me against unnecessary trips given the current gas prices. At our local Costco, the cheapest gas is priced at $4.32 per gallon, a price we often pay to fill our Honda CR-V and Toyota Camry. Despite its location slightly further away, Costco’s gas turns out to be $0.20 cheaper per gallon than the Exon pump nearest our house in Austin, Texas, saving us a considerable amount each time we gas up.
Using a simple formula, my wife quickly assessed that the commute to the grocery store, HEB, would cost us about a dollar. This realization made us even more appreciative of our Costco membership as the gas savings offset the yearly membership fees.
Other methods to cut costs include carpooling and optimizing our daily trips, strategies employed by my wife who rotatingly drops off our son and his classmate Sarah at school. These steps may seem overwhelming at first, but with practice, it becomes a habit that’s as second nature as counting calories or steps.
Just as I was heading out for work, I asked if we’d be picking Sarah up that day. My wife confirmed it was her turn. Happy with our strategic planning, I kissed my son goodbye and headed to my car.
The commute to my office, 7 miles away, is marked by three traffic signals. I don’t always physically go to the office as our company promotes a flexible, remote work culture, allowing me to save on gas, restrict full access to a vending machine, and enjoy home-brewed coffee.
One morning, a man in a BMW pulled up beside me at a traffic light. His car roared as he sped past me when the light turned green. But, as the next traffic light turned red, I found him next to me again. Jokingly, I pointed out his wastage of 25 cents worth of gas due to his impulsive start.
Returning home from work with all the groceries, I noticed that the tire pressure monitoring I’d conducted over the weekend was helping save fuel. I wondered if purchasing an energy-efficient vehicle could help with drastic fuel prices. But with my Honda just five years old and in perfect running condition, this idea was quickly dismissed.
Our only luxurious outings are reserved for weekends. Taking care of our cars through regular servicing and reducing unnecessary weight in the car helps maximize efficiency.
Regardless, we continue to learn and apply personal finance lessons in our lives. Even though this is a fictional story, it underlines the importance of prudential financial planning in our daily lives to help us save efficiently. We hope you enjoyed it and will come back for more.