Experts are making predictions that by next summer gas prices will be at or near $4 per gallon. That will put me in the hole $11 a day,  $233 a month and $2800 a year!  Time to move down the street from the credit union and walk! I’ve given that some serious thought but after driving around the neighborhood I didn’t think my new neighbors would appreciate three horses, three dogs and one great mouser cat smelling up their backyards.

It’s true that all of us have situations that are out of our control, and truly gas prices are out of control! I have thought of buying a car with better gas mileage but I live on a mountain that requires four-wheel drive and I don’t have a vehicle loan payment. So it makes no sense to try to lower my gas bill by creating a car payment.

Pump prices were high before hurricanes Katrina and Rita hit the Gulf Coast, but it did force prices to jump over $3 a gallon. It is predicted that almost everything consumers need on a daily basis will increase significantly in the coming year. With that being said it is extremely important that consumers look at their spending habits to figure out where they can save in their budgets as prices increase. Let’s face it, if we work we need gas; we will not be able to cut back there.

After reviewing our spending habits, it may be time to do a financial tune-up. Reports already show that credit card interest rates have increased on a national average to 13.07%, up one percent from just one year ago and they predict this year will not be favorable to consumers. While your credit union is still offering fixed rate second mortgages as low as 6.99% apr, you might consider a credit card debt consolidation now before rates increase again.

Another way to help out your monthly gas bill, refinance your vehicle loan from any other financial institution and we will lower your current interest rate you are paying by a full 1% apr, up to 60 days no payment and the convenience of payroll deduction or automatic payments.

If you have any other financial concerns that we might be able to put more money back in your pocket, please stop by my office so we can go over your concerns and make a plan to help you be more financially strong in 2006.

Yours truly,

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