Rescue Capital Blog Your Money, Your Way


Our Favorite Things-October 14th

Posted by Dawn Anderson

Another rainy Friday in Philadelphia. :-( Maybe these stories will cheer you up!

  1. Moving on up - The stock market is up in early hours trading thanks to a positive retail report via Yahoo Finance.
  2. How to thrive in a stagnant economy-Don't let the economy hold you back. Use these tips from Yahoo Finance.
  3. Need a credit limit increase? Daily Finance tells you how to get one.
  4. How much is your commute costing you? The cost of your commute is more than the price of gas. Lifehacker gives you the low down on costs.
  5. Budgets are no fun-They're also difficult to stick with so why not create a spending plan with Savvy Sugar.


Who knew getting gas could be so painful

Posted by Dawn Anderson

Wow, the gas prices are out of control. I just filled up my SUV this morning with premium and it cost me $75. I paid $3.71/gallon in the Western Suburbs of Philadelphia and that wasn’t the most expensive gas station I passed. Some gas stations were selling premium for $3.85/gallon. When I was in Long Island, NY last week they were paying over $3.58/gallon for regular.

While oil prices are influenced by geopolitics, the value of the dollar, extreme weather or Chinese demand, gas prices can be moved by oil prices, refinery problems or even weather. This morning the oil prices went down slightly due to speculation that OPEC will increase supplies in response to the political turmoil in Libya. However don’t expect to see a decrease in gas prices because they are determined by replacement cost rather than the cost to produce gas. In other words, if the gas station sells its supply of gas, their gas prices will be determined by how much it cost them to replenish their supply. In addition, gas prices are expected to rise in a few weeks as refiners switch to a more expensive blend of gasoline designed to help protect against evaporation during the warmer summer months.

Unfortunately as oil prices to continue to increase you will see an increase in everything from food to consumer products. So what options do you have?

Find Local Gas Prices:
By using websites like you may find cheaper local gas prices however, prices are entered by local residents and may not be up to date.

Employ Fuel Saving Tips:
According to using the following tips will help you save at the pump. Avoid high speeds, do not accelerate or break hard and keep tires properly inflated. Keep windows closed and use A/C sparingly. Keep your car maintained, avoid heavy loans and long idles.

Alternative Transportation/Work Schedules:
Car pooling, working from home and 4 day work weeks help reduce gas usage while helping the environment. Riding a bike or using public transportation are other ways you can save money while commuting.

If your car is an old gas guzzler it may make sense to purchase a newer, more fuel efficient model. Most people think that hybrids are the answer but in many cases the math doesn’t work. According to personal money management expert, Dave Ramsey, the math is not in your favor. For example, you get 10 miles/gallon with your current car and it is worth $10,000 but you want to replace it with a hybrid worth $25,000 that gets 25 miles/gallon. At $3.71/gallon, if you drive 100 miles per week you save only $22/week but you will spend $634/month in car payments for 4 years with an interest rate of 10% per year. Ramsey suggests replacing your current car with a fuel efficient model that is worth the same amount as your current ride so that you gain the gas savings without having to make car payments.

Move or change jobs:
Another suggestion is to move closer to your job. You may be able to find a place that is more affordable while driving less. You could also find a job closer to your current home or starting a home based business.