by Ann E. Smith

Created on: June 29, 2008   Last Updated: September 14, 2008

Gasoline prices remain very high. While politicians are proposing ideas for solutions, and engineers are racing to design alternate options, what can currently do in light of these high prices, which are directly impacting you and your lifestyle. What are some immediate solutions to help you cope with the current high gasoline prices?

First accept that for the time being, gasoline is going to cost much more than it used to and find ways to adjust your spending habits. While complaining and worrying are natural reactions, you must adopt a plan of action to cope with the current high prices until relief or changes are made.

One recommendation is to let your fuel tank get really low. Then fill your tank up all the way with the grade of fuel you typically use. This will provide you with an estimate of the current cost to fill your tank. Next, calculate how many times you must fill your tank, on average, for a month based on your local commute and amount of errands you run, etc. At the very minimum, you need to get this total and make sure you pull this total from your bucket of discretionary spending each month.

What does this mean? Well, it means that if you are spending $100 more per month on gasoline, then you may need to spend $100 on going out to dinner or movies. Yes, you will need to cut spending elsewhere so as not to incur debt due to this increase in prices.

Another adjustment to your budget is allotting more to your grocery spending, as all indicators are that food prices will go up over the coming months as a direct result of the higher fuel costs. By planning for these price increases, you will be more prepared to cope in a way that does not completely put you behind.

This is a basic and practical short-term solution for how you can personally deal with the high gasoline prices. Another action is to try to drive less. Is there a way to carpool or take public transportation to work? Is telecommuting a day or two a week an option? Instead of going for a nice drive on a Sunday afternoon, how about taking a walk in the local park? If you live in a city, then perhaps biking is an option.

The more that you focus on actions you can take to help yourself during this tough economic time, the more you will benefit. It really is a matter of continued adjustments so that you will be able to maintain some level of comfort in your lifestyle.

Once you decide on some changes, be sure to hold yourself accountable for a week or two. Are you staying within your new budget that accounts for higher food and gasoline costs? Are you buying less gasoline due to new habits that require less gasoline? Once you see some positive results from your actions, you will certainly be likely to keep on making them.

While the higher gasoline costs are very stressful, it's important that we take some control over the situation by making sound spending decisions and cutting back in certain ways. And, while it may not be fun, what does not kill us really does make us stronger. On the bright side, you may come out of this situation much more financially and environmentally responsible.

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