I was talking with my wife about how some people are predicting gasoline to go to $4 per gallon. She said, “Wow. That would cause us to make changes to our budget. Something would have to be cut.”
She’s right. My wife drives a lot of miles and according to my calculator, gas at $4 would cost us an additional $2,000 per year (based on the current price of $2.72). We would have to make adjustments to our budget in order for to afford the higher price. We would most likely have to cut our eating out budget or quit contributing to our 401(k) (I’M TEASING!).
Anyway, I thought it would be interesting to hear from you.