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Financial expert shares some ways to help offset high gas prices by adjusting your budget

How to save money and offset high gas prices by looking at your monthly budget.
Financial expert shares some ways to help offset high gas prices by adjusting your budget
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MURFREESBORO, Tenn. (WTVF) — Gas prices are sky-high right now, and it can be incredibly hard to budget — but depending on your financial situation, there are some ways to help offset what you're paying at the pump.

Nancy Gastelum, Financial Education Coordinator at Redstone Federal Credit Union, shared several tips to help stretch your dollar further.

Watch report from Robb Coles

Financial expert shares some ways to help offset high gas prices by adjusting your budget

One of the first places Gastelum said to look is your monthly streaming subscriptions.

Individually, each service may not seem like much, but they add up quickly.

Temporarily pausing or canceling streaming services is one way to free up cash.

Eating out is another area where budgets can take a hit.

"Eating out, it's quite surprising sometimes when I sit with people and work on their budget," Gastelum said.

Whether it's a sit-down restaurant or a drive-through, Gastelum said people often spend more than they realize on food away from home. She recommends meal prepping to cut those costs.

If your budget is especially tight, she also suggests limiting how much you drive when possible.

"Maybe carpooling, planning your trips in advance, so that you can avoid making multiple trips towards the same location or direction," Gastelum said.

She also recommends asking your employer about working from home, at least temporarily, while gas prices remain high.

"If the company is flexible with you, definitely bring that up as an option for at least temporarily," Gastelum said.

If you have a discount card tied to a supermarket that also operates a gas station, now may be a good time to cash in any accumulated rewards.

"Sometimes they add up, and it's 60 cents a gallon," Gastelum said.

This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.

Do you have more information about this story? You can email me at robb.coles@newschannel5.com.

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