How Can You Improve Your Fuel Economy?

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How Can You Improve Your Fuel Economy?

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March 28, 2012

You know gas prices are rising out of control when you are debating which button to press before you fill your tank up at the pump. With gas prices ballooning to more than four dollars a gallon, some of you with those large SUV's have been paying more than $100 to fill up your car at the gas station. It's getting more and more important to the bottom line of your family finances to manage how much you drive or it could cost you dearly within your budget. You might also be able to take small measures every month to reduce the impact of these rising gas prices by paying attention to what your car tells you to improve your overall fuel economy. Here are few smart money moves tips you can use each month.

  • Heed Warning Signs - CarMD (www.carmd.com) research shows that at least 10 percent of motorists have a "check engine" light on right now, and half have ignored the light for over three months. Dashboard warning lights alert drivers to problems that affect their car's emissions output, reduce fuel economy, and ultimately cause mechanical damage. While it may seem like your vehicle is driving just fine, it's often guzzling extra gasoline. For example, the no. 1 most common cause for "check engine" repairs is a faulty oxygen sensor. The O2 sensor measures the amount of unburned oxygen in the exhaust and tells a car's computer when there is either too much, or not enough fuel compared with oxygen for ideal operation. It costs less than $250 to fix, but can lead to as much as a 40 percent reduction in gas mileage if ignored - that's more than $900 extra per year in fuel costs.
  • An ounce of prevention - Many drivers admit to stretching their dollars by extending time between schedule maintenance appointments. In this case a penny saved may result in many hundreds of dollars spent in extra fuel costs and repairs. Air filters are a good example of how an ounce of prevention can save you money. You can inspect the filter yourself, shake out the dirt or vacuum it and re-use it, or opt to spend the $25 or so for a new one. Ignore a dirty air filter for too long and it can result in the need to replace a mass air flow sensor (MAF). The number 5 most common car repair, according to the CarMD® Vehicle Health Index™, a MAF can cause a 10 to 20% reduction in fuel economy, costing an extra $250 to $450 at the pump each year, and eventually resulting in the need to replace a much more expensive catalytic converter.
  • Lose weight - Are you driving around with extra "junk in your trunk" or truck bed? By removing an extra 100 pounds of clutter from your vehicle, you can improve your gas mileage by several percentage points. A bucket of baseballs weighs about 25 lbs, snow chains weigh at least 10 lbs, and a set of golf clubs can weigh anywhere from 20 to 50 lbs.
  • Avoid Idling - Attention carpool moms, dads and older siblings. Idling for over 10 seconds uses more gas and causes more pollution than restarting your engine. While it's not recommended to turn off your vehicle at a stoplight or while moving through a pickup line at the local fast food drive-through or school, it is a good idea to pull into an approved parking spot and turn off the engine whenever you expect your wait to be more than a couple minutes.
  • Keep Your Tires Maintained - Ensuring proper tire maintenance, tread and inflation can increase gas mileage by about 10 percent. Changes in season or major temperature swings are a good time to double check your tire pressure, even if you have a tire pressure monitoring system on your vehicle. It's best to set them first thing in the morning to the high end of the manufacturer's specifications (usually found on the inside of the driver's door).

None of us really know whether or not gas prices will actually hit the $5 dollar mark across the country, or we'll take action to get gas back into the $2 to $3 dollar range that we have all been accustomed to over the past decade. If you use a few of these your smart money moves tips, perhaps you'll save a few bucks by stretching out that money you spend at the pump.

Written by:

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder of oXYGen Financial, Inc - The Leaders in Gen X & Y Financial Advice

Visit to www.oxygenfinancial.net to request a free consultation with the leading financial experts for people in their 20's, 30's, and 40's in the country.

Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact NFPAS Compliance Department at 512-697-6000. PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. NFP Advisor Services, LLC makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is NFP Advisor Services, LLC liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. https://Bit.ly/KF-Disclosures

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra AS may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact Kestra IS Compliance Department at 844-553-7872.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. Kestra IS and Kestra AS makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is Kestra IS and Kestra AS liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.