Pain at the Pump - This Holiday Season Will Gas Prices on the Rise Impact Your Family Ties?
It’s nothing new for gas prices to make headlines. It seems like every day for the last few years the media has kept a very close watch on the daily fluctuations of fuel. And Americans across the country have been tracking prices at the pump and feeling the effects. While 22Dollars.com stresses taking control of your finances, the topic of gas prices instantly causes anxiety and controversy due to the fact that it’s one area of our budget over which we feel little control.
The impact of the increasing price of gasoline touches everyone - not only those who depend on a car for their daily transportation. In somewhat of a chain effect, everything from surcharges on airline tickets to higher prices for transported vegetables is impacted and we all feel the effects on our finances. But can this even reach our personal lives during the holiday season?
Gas prices are projected to reach an all-time high in the next few weeks. At a time when Americans tend to spend more than normal, any such increase can have a dramatic effect. Some examples of seasonal expenses include groceries and restaurant bills for large family dinners, presents for our loved ones, shipping gifts to far-reaching destinations and travel arrangements for visits to friends across the country, all of which are based in part on the price of a barrel.
While we’re accustomed to making sacrifices such as carpooling or not driving unnecessarily, will this projected increase in gas prices mean that we’ll have to make concessions when it comes to our holiday plans? Will some of our favorite holiday traditions just become unrealistic if this trend continues? As with any situation involving finances, the more you plan ahead the better off you’ll be. Carefully evaluating which holiday expenses mean the most to you and budgeting your finances accordingly is the main way to maintain control over your Yuletide and your bottom line.