(Homesteading.news) The big oil companies may be a bit panicky and energy shares down somewhat on Wall Street, but there is much more good news for consumers now that gasoline prices have fallen so dramatically than bad.

As a homesteading consumer who is always pinching pennies, looking for bargains and making the most of what you have on hand, bottomed-out gas prices is a godsend to you, and it comes just as spring is approaching. Planting, yard work and other gas-powered chores will all be cheaper this year than last year. In fact, according to Gasbuddy.com, an analytical site that tracks gasoline prices around the country, today’s average price is more than a dollar a gallon cheaper at about $1.69 nationally than last summer’s peak prices of around $2.75.

So now is the time to take full advantage of lower gas prices that, by the way, are expected to remain low for some time, as long as the global glut of oil continues. Here are so ways to do that:

— Buy that gasoline storage tank: If you’ve been contemplating the purchase of a gasoline tank for your property, now is certainly the time to do it. Usually gasoline purchases of several hundred gallons is cheaper by the gallon anyway, so now you’ll really get bargain gasoline. Having a supply on hand will not only make life easier for you, but you’ll save hundreds of dollars a year buying in bulk.

An alternative: Buy several 5-gallon plastic gasoline containers and fill them up. Just make sure you have plans to use it up because believe it or not, gasoline can “go bad” over time.

— Get that ‘special project’ done: Is there a special project around your place you’ve been putting off because you didn’t have the extra funds to complete it? With gas savings you may now have the chance to finally get it done. Calculate what you spent on fuel last year the best you can and compare that to gas prices today. See if you’ll have enough of a cushion to finish the job.

— Get rid of debt: If you’re like most folks, there is a nagging balance on a credit card or some other debt that you’ve been working to get paid off. Lower gas prices will free up additional funds for you to put towards that debt. Getting out of debt will also make more funds available to you and your family long-term, even if gas prices head north again.

— Save, save, save: Another use for that “gas cash windfall” is to sock it away for a rainy day. Saving money is tough enough these days, but getting an unexpected break on the price of a must-have commodity gives you a great opportunity to bolster your savings account.

— Fix the car: You want to stretch your gas savings even more? The best way to do that over the long haul is to get the maintenance done on your vehicles that you might have been putting off – oil changes, filter changes, and other maintenance that will help improve gas mileage. Some helpful tips are here.

— Have a night out: When was the last time you and the family had a night out for yourselves – or just you and your better half? Now is the time to take the time for yourself. Everyone deserves a little R & R – rest and relaxation – and in fact, studies show that taking some time off to “get some air” or do something you enjoy boosts your mood. Now is the perfect time, for instance, to load up the family and drive to a favorite destination for a vacation or for spending some time camping.

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