Save Money with a Fuel-Efficient Car

Improved fuel economy saves you cash every time you fill your tank!

Fuel efficiency is an enormous financial consideration when buying a car.  In fact, buying a car that is 10 miles per gallon more efficient in terms of fuel consumption than another option you may be interested in can save you as much as $10,000 over the time you own the car.

When shopping for your next car, one of your very first questions should be, “What kind of fuel economy does it get?” Gas prices are so unpredictable that it is essential that you prepare yourself for escalating prices by making fuel economy your number one priority – so you can make driving a not-so-guilty pleasure again!

Selecting a fuel-efficient car
A good place to start is online at http://www.fueleconomy.gov where you can review the mileage and emissions ratings of all the vehicles currently for sale.

  • Here’s an example from www.fueleconomy.gov: A vehicle that gets 30 MPG will cost you $610 less to fuel each year than one that gets 20 MPG (assuming 15,000 miles of driving annually and a fuel cost of $2.44). Over a period of five years, the 30-MPG vehicle will save you $3,050. Now that’s a good chunk of change!
  • There are also fuel cost and savings calculators that can be used to help you make an informed decision when buying your new fuel-efficient vehicle.  You can try it here file://localhost/(https/::www.fueleconomy.gov:feg:savemoney.shtml).

Another good site is http://www.edmunds.com, which also carries the EPA mileage figures on the “Specs” page of each auto.

If you’re tired of emptying your wallet every time you fill up below is a list of cars that are rated the most fuel-efficient by Consumer Reports.  These gas sippers listed below are also easy on the wallet.

  • Ford Fiesta SFE
  • Mitsubishi i-MIEV
  • Ford Focus Electric
  • Nissan Leaf
  • Chevrolet Volt
  • Chevrolet Cruze Eco
  • Toyota Prius
  • Honda Civic HF
  • Hyundai Accent
  • Hyundai Veloster
  • Mazda 3

Driving a fuel-efficient vehicle not only will save you money on gas, but such a decision has other, broader benefits, too. It reduces oil dependence costs, reduces climate change and increases energy sustainability. Clearly, it’s a decision you can feel good about!

If you are ready to purchase that new fuel-efficient car, your local credit union offers affordable and competitive financing options on both new and used automobiles.  Some credit unions will even give a discount for fuel-efficient cars, for vehicles with a 40-highway mpg rating or higher.  So you will save on interest while you’re saving on gas.

allU.S. Credit Union is committed to stewardship and care of the environment. In the changing technology of our world, hybrid and fuel-efficient cars offer a chance to practice these values. Visit the branch today or apply online for an auto loan that fits your budget.  

Teach Your Children Financial Independence

Are your kids on the right track to financial independence?

For many of today’s young adults, the weakest link lies in learning the basics. According to a 2014 survey conducted by Harris Poll on behalf of Junior Achievement USA (2014 Teens and Personal Finance Survey), 40% of teens do not have a savings account, checking account, or debit or credit card, and 59% of teens do not have money management classes offered at their schools.

Achieving economic prosperity is difficult, and it’s especially hard for young people who’ve never learned how to manage money.

allU.S. Credit Union is ideally positioned to respond because we believe in the power of education. We’re here to help you launch the youth in your life toward financial independence, and here’s how:

Join. For starters, open an allU.S. savings account for each child in your family. Guide teenagers through using a debit card and tracking transactions.

Share. Include your children in household money discussions. Show them how you budget income and expenses. As their skills improve, give them challenges—such as finding a better cell phone plan, calculating the total monthly cost of owning a car, or sticking to a budget for back-to-school or holiday spending.

Show.  Show your children how to live within their means by setting a good example first.  Stop buying things you don’t need.  Kids learn by osmosis.  If they see you doing something, they will copy.  You need to show them what smart buying is all about.  You can’t teach good personal finance if you don’t at least try to practice it yourself.

Teach.  Let your children know that automating their money and bills is one of the best ways to keep their finances in top shape, maintain stellar credit, curb overspending, and not stress out about paying bills on time.  Automation means you siphon your income into various channels each month such as into a savings account, an investment account, a credit card, and finally your bills.  This method forces you to “pay yourself first” by saving and investing, and then pay all your bills on time.

Coach. Remind your children to ask for help when they need it. And turn to allU.S. when you want help. Our tradition of service and philosophy of self-help make allU.S. Credit Union and all credit unions a natural partner in pursuing financial security.  Check out the resources on our Member Center.  We are committed to being your financial advocate, providing you the necessary resources to better manage your money and make informed financial choices.

Remember, we’re here to help because working together; we can open the door to a lifetime of opportunities for your children.