Does Scouting a Lower Gas Price Matter Much? Plus, More August Money Questions

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Each week, we answer money questions from around the web on the BW app. Here are three of the trending questions from August.

The short answer is yes. Shopping around for gas can generate significant savings, especially if you drive a lot.

You can also stretch your savings by signing up for gas station loyalty programs or using a credit card that earns rewards on gas purchases.

Shopping for gas is just one way to save. Also consider your driving habits: Rapid acceleration and hard braking can eat up a lot of gas. Carrying around a trunk full of heavy items also can lower your gas mileage.

It’s also worth getting your car serviced regularly to make sure it’s operating efficiently.

You might not need a budget the way you need food, water or shelter, but making one can go a long way toward helping you feel more in control of your spending.

That percentage-based approach gives you flexibility to approximate how much of your paycheck is going toward those different categories. You can also adjust the percentages to better fit your life, such as using a 60/20/20 breakdown.

The reason budgets are so helpful is that they give us guidance on where to put our money. That’s especially important right now, with prices on many everyday essentials rising.

Nearly three-quarters of Americans (73%) said they’re tracking spending more closely because they realized they were spending more than they thought — while 66% said they were motivated by a specific financial goal, like saving for a vacation or paying off debt.

If you’re still not sure whether budgeting is right for you, try tracking your spending for just one month. You can use a budgeting app, simple spreadsheet, or even a pen and paper.

Look for any trends or surprising expenses that add up. Once you have that extra insight into where your money is going, you might decide to make some tweaks — and starting with a budget can help with that.

The concept of “loud budgeting” has been getting buzz online lately, but should you embrace it?

In addition to holding yourself accountable, expressing goals out loud can also reduce any shame or embarrassment you feel when you decline to spend. After all, opting for frugality is something to be proud of, especially when it’s in support of a bigger goal.

Your friends and family might even help you by brainstorming creative ways to save. Hosting potlucks or game nights, walking in nature or embracing staycation activities can all help. That kind of support and connection can help your relationships, too.

Of course, loud budgeting doesn’t mean sharing all the details about your financial life. You don’t need to share specific numbers around income or debt, for example. Everyone has different boundaries that define their comfort level.

And frankly, we should all be loud budgeting if it helps reduce any shame around talking about money and cutting back.