I (Dawn) was reading the book The Cheapskate Next Door by Jeff Yeager this past week. It’s an interesting book, with quite a few good ideas about how different “cheapskates” across the country save money and live well below their means. Some of the stories are a little extreme (dumpster diving for party appetizers), but there are other, more moderate ideas as well.

 

One idea in particular stood out, especially with gas prices rising every time you go to the pump. It’s what Yeager calls the “$4 a Gallon Savings Club.” The basic principal is when gas prices rise, you are forced to pay the higher prices to fill up, and you get used to it. It’s hard to part with the money, but you have no choice but to budget for the higher amount. Then, when prices go back down, you still “pay” what you would have before. Put the difference aside into savings (for whatever you want).

 

So, if gas prices peak and it takes $50 to fill up, $50 is what you budget for gas. Then, when gas prices go back down and you only have to spend $40 at the pump, that’s $10 you can save. The idea is that since you already budgeted for it, you won’t miss it. It’s an easy way to save a few (or more than a few) dollars here and there. Also, if gas prices rise again in the future, you won’t have to worry about where the money will come from because you’ve already budgeted for it.

 

If you’re interested in some more quirky “cheapskate” ideas, check out Jeff Yeager’s book.

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