Personal Finance News Friday 5/24

Phil's Personal Finance Tip of the Day:

7 Gas-Saving Secrets

By Farnoosh Torabi | Yahoo! Finance

 

Memorial Day weekend kicks off summertime road trips, but escalating gas prices can leave us feeling stranded. So before you hit the open road, consider these gas-saving tips.

Drive With Windows Down

Pop quiz: Should you roll down the windows or turn on the air conditioning to save gas? It’s a hot debate, but according to Gasbuddy.com, driving on the highway at 55 mph or more with the windows down can lower fuel efficiency by at least 20% due to the drag created by the open window. Consumer Reports found using the AC only drops fuel efficiency by about 10%. But if you’re traveling at slower speeds in stop-and-go traffic, windows down is most fuel-efficient. Forty miles per hour is a good benchmark when choosing between windows down and air conditioning.

Fill Tires to Recommended Pressure

Your tires can also impact mileage and the quickest and easiest way to increase fuel efficiency is to inflate them to the recommended pressure.

Also See: 5 Signs You May Be Broke in 10 Years

“We did a test here at Edmunds a couple years ago with our own employees and found that we were probably losing about $112 a year in fuel economy because of driving on under inflated tires,” says Carroll Lachnit, features editor at Edmunds.com.

To read the entire article from Farnoosh Torabi | Yahoo! Finance:
http://finance.yahoo.com/news/7-gas-saving-secrets-131654760.html


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Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.