The Effects of Soaring Gas Prices

When I went to nursing school in 2002, I had dreams of financial freedom and creating a better life for myself. I grew up in a middle class home and we very seldom went without. After I gave birth to my second child I had dreams of going to college and starting a career. I wanted to be able to afford college for my children, and I wanted my husband to be able to quit his stressful, but high income job, in order to make a less stressful career change.

The rising cost of gasoline has caused us to re prioritize our financial decisions. We live outside of Arkadelphia, Ark., where gas has gone up to $3.27 a gallon. We can purchase gas for $3.18-$3.19 in our hometown of Delight,AR. We have to drive about 80 miles round trip everyday to go to work. Carpooling is out of the question as we are on different schedules. I average 240-400 miles per week which comes to an average of $38.06-$63.60 per week for unleaded gasoline. I have not bought premium gasoline in 4 years. I spend about 10-15% of my salary just on gas to go back and forth to work. I spend up to 30% of my salary when I figure in trips to buy groceries, clothing. and after school activities.

We traded in my husband's vehicle on a Dodge Calibre that is averaging 27-33.9 MPG. We have the same income and mileage per month. With the extra MPG his average spending on gas is 10-15% of his salary.

My family used to go to the movies at least twice a month. We rarely go to the movies anymore since the closest theater is over an hour a way. The cost to pay for gasoline alone is equal to two trips to and from work. We rent movies from a local video store and we always return our movies on time to avoid late fees. I do most of my shopping after work when I am alone and do not have to take my children into the stores with me. Do you understand why stores place all the candy and baseball cards near the cash registers? I avoid late fees by making sure all of my utility and credit card bills are paid on time and all of my credit cards have a $1500.00 credit limit. When I pay on my house payment or car payment I use any extra cash I have and pay toward the principal of my loan. I anticipate being loan free in the next 3 years.