With gas prices on a meteoric rise, it’s not surprising that Americans are forced to come up with ways to deal with this incremental pain in the wallet. Bringing the point home, a new survey from CouponCabin.com shows just how far we’re feeling the pinch.
One-third of U.S. adults say they’ll have to give up something to keep driving
Shocked by this finding? We shouldn’t be, since gas prices have been inching upward for months. It had to take a toll on the family household budget, especially in multi-car families. In a recent survey of 2,354 adults aged 18 and older conducted online by Harris Interactive on behalf of Coupon Cabin, more than one-third (36 percent) said they may have to give up something in order to continue to drive.
Asked what they’d be likely to forego, Americans detailed the following:
- Not surprising, the biggest item that will drop off their list is eating out. Some 70 percent said they’ll eat out less frequently.
- The next activity they’ll cut down on is spending less on entertainment, with 64 percent citing this coping method.
- Shopping for clothing will be put on hold, said 37 percent of the survey respondents.
- Also mentioned as cost-cutting steps are canceling cable, satellite and other TV services (22 percent); cutting back on cell phone usage (15 percent); cancelling Internet service (5 percent), and other (16 percent).
2012 Toyota Prius Plug-In Hybrid, production version road test, San Diego, CA, Jan 2012Enlarge Photo
As for actual driving, 75 percent of those surveyed said they’d be making changes to their driving behavior to lessen the impact to the budget. The most-often cited coping strategy respondents said they’d adopt is reducing overall driving in order to save money (61 percent). Other plans include: carpooling (9 percent); using public transportation (8 percent), and buying a hybrid or energy-efficient vehicle (6 percent).
Coupon Cabin has one other way to help ease the pain, in the form of the “Great Gas Giveaway Sweepstakes,” where one lucky person can win the grand prize of free gas through the end of summer (worth $1,500). Every person who enters the sweepstakes also qualifies for one of 50 secondary $50 gift cards for gasoline. Enter by March 26, when the sweepstakes ends.
Gas pumpEnlarge Photo
Feeling the pain at the pump?
If gas prices are causing you to rethink the household budget or necessitating cost-cutting measures so you can continue to drive, we’d like to hear from you.
What are you doing to cope with rising costs? How have your driving habits changed recently or what do you plan to do if gas prices go up even higher? At what point will you be forced to make drastic changes? When gasoline hits $5.00 per gallon, or $6.00 or what?
Let us know in the comments section below.