Get 1% better. It seems small and simple. But getting 1% better consistently results in huge long term benefits. Getting in 1% better shape every few weeks would result in the best shape of your life after little while. In personal finance, there’s a lot of room to get 1% better for most folks, myself included. Today, I’m going to look at a product that is the bane of commuters: gasoline. The price of gas is rising again (along with everything else), so getting 1% better with your gas purchasing is going to go even further this year. Here’s how you can get 1% better with less convenient gas.
The Cost of Convenience
Whenever convenience is being sold alongside another product, it’s going to be more expensive. That’s why everything at a convenience store is more expensive than it is at any full sized supermarket. Likewise, the more convenient gas stations are the most expensive. These are the ones closest to the highway exits, on the most convenient side of the road for motorists with thirsty vehicles. How much is this convenience worth? Typically it’s worth 10 cents, 20 cents, or more per gallon. You can often drive a short distance down the street and find a gas station with prices that are at least 10 cents/gallon cheaper.
My Case Study
With my daily commute, I unfortunately have to fill up my tank about once a week. I know the cost of commuting thanks to Mr. Money Mustache, but my wife has a really short commute. One of us had to bite the bullet here and it’s better for us to be very close to family. Here I’m just considering the cost of gas. We all know the cost of gas is going up. Near work, gas is over $3 now, while the cheapest station near my apartment is at $2.75/gallon. The problem? The cheap gas station is three minutes past my apartment. Plus, the self service island requires you to go inside in order to pay, even with a credit card. Oh the humanity! How is one supposed to save money on gas when it’s so inconvenient???
The Math Doesn't Lie
That might have seemed a little dramatic. But I typically have to do all this after a long day of work and a half hour commute. After that, I don’t want to drive an extra three minutes, get out of my car, talk to the clerk, and pump gas. I did the math though. Saving 25 cents per gallon on my Honda Accord’s 13 gallon tank saves me $169 over the course of the year. That doesn’t seem like a lot, but with current gas prices, this saves me the equivalent of a months’ worth of gas. Instead of getting 1% better, I’m getting 8% better with my gas budget. My 5-10 minutes of mild inconvenience per week pays for itself many times over.
Find That Inconvenient Gas Station
I hope that my little case study has convinced you to seek out the less convenient gas station in your area. Sometimes they look a little dingier than the premium chain slinging high priced gas, but I’m not trying to convince you to eat there. Eliminating one month’s worth of gas costs is just one of the small things anyone can do to improve their finances. The goal is to stack these 1% improvements until the cumulative difference is impossible to ignore. And less convenient gas is a great way to start you off.
Interested in another easy way to improve? Check out my post on how I’m paying way less than most for my cell phone service