Last Saturday, as a few friends/neighbors of mine were walking passed a gas station and noticed that gas was under $2 a gallon, one neighbor said that because gas prices were going down, it was a better idea to NOT fill your tank all the way. Very simple logic would tell you that she was correct. If gas prices are going down, buying gas tomorrow is cheaper than buying it today, so why fill up all the way? Unfortunately, gas is not the only economic factor, and it surprises me how little value people put on their time.
Quickly estimate the amount of time it takes you to get gas. I put it at around 10-15 minutes, though it may be longer or shorter depending on your proximity to a fueling station. Now let us assume that instead of purchasing a full tank of gas (15 gallons for most sedans, if you drive a truck, read something else) every two weeks, you are purchasing a half-tank every week. That is an extra ten minutes every two weeks. At best you might see gas prices drop 10 cents per week, leaving you with a bi-weekly savings of 75 cents.
Now calculate the value of your time. This is much simpler than most people imagine. Instead of doing what you are doing, pretend you are at work. How much money would you be making? If your answer is greater than $7.50 per hour, then you are simply on the losing side of this math problem. Don't be simple minded, learn math, it's FUNdamental.
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