Fill Up on Financial Wisdom at Gas Stations

You can see this same issue with many of the things you buy.

Prepacked foods can be much more expensive than making food from scratch. Buying dinner at a movie theater rather than going out to eat before seeing the movie will cost you a lot more. Your local convenience store will have prices higher than other stores in the area.

This doesn't automatically mean that it's not worth purchasing other stuff at a gas station. But it does mean that you need to do the calculations to make sure that the added cost is worth the convenience.

5. Cheaper Isn't Always Less Expensive

A big myth about personal finances is that something that is cheaper is also less expensive.

This can be seen when people drive miles out of their way to save a few cents when buying gas. In most cases, the cost of driving the extra distance to get the cheaper gas will end up costing you more in the gas used and wear and tear on the car the get there than is actually saved.

It's important to look at the true cost and not what you pay for an item so that you learn to get the best value for your money. A $5 shirt that lasts only a couple of months isn't as good a value as a shirt that is $15 and lasts for three years.

Look beyond the price and at the overall cost of all purchase made to decide whether something is a good value or not.

6. Maintenance Is Your Responsibility

There was a time when you went to a gas station and you would receive full service where they would wash your windows as well as check your oil, fluids and tire air pressure.

If you want full service today, it means that you will have to pay pay much more per gallon, if you can even find a gas station that offers it.

If you don't, the burden to do the basic maintenance on your car falls upon you and failing to do so can mean paying more for repairs to the car and having to replace parts sooner.

The same is true with many of the things you own. It is easy to not maintain such items as furnaces, air conditioners, major appliances, houses, and even your own health because it appears to be less expensive in the short run.

The truth, however, is that failing to maintain items can result in costly repairs down the road. Spending a little on preventative maintenance will go a long way to saving money and making the things that you own last longer.