Opportunity Costs of High Fuel Prices – Personal Finance Review

March 31, 2008

I spent the weekend making money for the oil companies. We drove about 800 miles on the way to and from a family get together. Although we drive a rather fuel efficient Honda we still ended up paying over $100 in gas for the trip.

As fuel prices continue to climb I can easily see the effect it can have on consumers and our economy.  This is an annual trip that we won’t cancel due to expensive gas but the money we spend on fuel does take away from other things we could have spent the money on.

When you stop for gas and lunch, if the fuel pump charges you over $40, you might choose to just snack on the food you brought along rather than eating at a sandwhich shop.   If you didn’t bring anything along to eat you might go easy on the order or share a meal to make up for the money you just dropped on gas.

I guess in order to help save the $100 we spent I’ll just have to look for some money tips from around the web.  Here are some personal finance articles I liked from last week.

-Perfect timing, here is a post about gas rewards cards from the Suns Financial Diary.

–Gen X Finance asks if Generation X is to blame for the mortgage problems and Clever Dude wants to know who YOU blame for your financial troubles.

-My Dollar Plan offers some insight into her investing club and Five Cent Nickel has some coverage of Middle Class Millionaires.

-Lazy Man & Money ponders the future of peer to peer lending and Million Dollar Journey has some tips on watching out for your housing costs.

–Brip Blap gives us 15 ways to make our 9–5 jobs more bearable and The Mighty Bargain Hunter suggests 11 ways to ease our commute.

-The Digerati Life talks about the obstacles money creates in our lives and No Credit Needed looks at how healthy living can effect your wallet.

-Free Money Finance reminds us our stock brokers may be broke themselves and Blueprint for Financial Prosperity mentions wrapping your credit cards in foil to prevent theft of credit card data (read the comments).


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Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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3 Responses to Opportunity Costs of High Fuel Prices – Personal Finance Review

  • Mr. Debtbeater

    Airline tickets jumped a couple weeks ago as well claiming fuel costs were most of the reasons. I kick myself for not making all of our travel plans the month before. On just 3 tickets, I’d have saved over $400 by just buying a couple weeks prior. :/

  • The Money Post

    I’ve never been one to follow gas prices, but I’ve certainly noticed it lately. I don’t have to drive much, but I’m sure those who do are feeling the pinch.

  • findgascards

    Gas rebate credit cards can be a great way to save on gas. People just need to learn that they need to pay the bill off in FULL to take advantage of the rewards. If they can’t do this, don’t bother 😉