September 24, 2019

So a few weeks ago I did a whole article about traveling solo. Well I'm practicing what I preached!

As you are reading this I have embarked on a solo trip to Greece!

The whole trip will not be a solo one as I am meeting some friends who live on the island of Crete. This is a trip of a lifetime for me. It's always a place I wanted to visit as it is where my grandparents were born. And they were born on the island of Crete. I'm going to see what info I can dig up on them. Now we are talking a long, long time ago. This was during the Ottoman Empire!

I will have details when I get back and perhaps a photo or two to share. In the meantime let's talk about a few mistakes you could be making at the Gas Station. Mistakes that is just like throwing money away!

Be Well,
Anisa

As always please reply with your thoughts and comments.
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Are you making these mistakes?

Nobody likes filling up an empty gas tank. Gas these days is expensive but the situation can be worse if you are guilty of these common, money mistakes.

You are probably unaware of these but they can be harmful to your budget, especially if you make them repeatedly.

Following are the three costliest money mistakes you can make at a gas station.

1. Grabbing a drink...

Grabbing water, caffeine or a soda at the gas station adds up quickly.

Say you grab a 16-ounce bottle of water for $1 (which around me is $2). Sounds harmless when it's only a buck, right? Not exactly.

You just paid $8 for a gallon of water! This is far more than you would ever pay for gas and for something that flows freely from your home faucet!

It's even worse if you're buying soda or coffee!

So, invest in a reusable water bottle or coffee mug and save.

Start saving that money you would've spent into a jar and once you get $50 throw it into a high-paying savings account. It adds up!

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2. Paying for gas with a debit card...

This is one of the worst and possibly most costly thing you can do. The reason? Every time you use a debit card at a gas pump, you effectively increase your odds of becoming a victim of identity theft.

Skimmers are often found on gas station devices. A skimmer is an illegal card reader that steal your card numbers. Criminals like to use gas pump payment terminals because they are not manned by employees.

If you pay with cash, that's not an issue. If you pay with a credit card, it's not much of an issue because credit card transactions are covered by a federal law that limits your responsibility for unauthorized charges to $50.

Your debit card does not enjoy such protections. You have to report such losses in a timely manner to ensure you get most of your money back.

A criminal can ring up hundreds or thousands of dollars in purchases before you realize it, and there's no guarantee you'll ever see that money again. If you do it can take months to recover!

I actually got rid of my debit card. I will use my credit card that pays me 1.5% back on all my purchases. You just have to make sure you are disciplined to pay the credit card off every month.

3. Buying premium gas...

If your car requires high-octane gasoline, you should use it. But if premium gas is merely recommended, you're better off saving your money.

According to a 2018 AAA report, Americans collectively waste $2.1 billion per year on high-octane gas when it isn't required or even recommended for their cars.

John Nielsen, AAA's managing director of Automotive Engineering and Repair, said:

"There's no question that higher-octane premium fuel has the potential to boost a vehicle's fuel economy and performance. However, engines have to be calibrated to require that fuel to see the full benefit."

In other words, if premium gas is recommended rather than required for your car, the vehicle can't take full advantage of the benefits of premium gas.

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In Closing...

These may not sound like a big deal, but as you think about retiring or if you are retired, every dollar matters.

These changes might seem small, but can have an impact greater than you can imagine. ESPECIALLY if you are younger and start saving now. It could impact when you retire.