A Funny Thing Happened on My Way to New Jersey.

Back so soon? Yes, I am. 

 

I felt like playing my own ‘Devil’s advocate’ in regards to my latest blog. See, I tried to play it off like I don’t know why anyone would want to hold out for the lowest possible rate, even if it may never happen. 

I am a consumer, just like all of you who are reading this. At our most basic level, we all want the same thing. The best deal, at the best time. Sometimes, that works out. Sometimes, we get burned. But I wanted to share a funny story about consumerism at it’s finest. 

I spend most of my time in Connecticut, New York and New Jersey. Gas prices, like everywhere else, were absolutely OBSCENE up here. At the height, let’s say they averaged $4.50 a gallon. In recent months, they steadily dropped. In CT, they hung out around $3.50 for a bit, then $2.50. Then, magically, $2. In NJ, they are consistently 50 cents less. On my most recent journey to New Jersey, prices in CT and NY were around $2/gallon. Naturally, I wanted to fill up in NJ, so I drove to find the ‘best deal’. I SHOULD have been absolutely happy with anything BELOW $2, right? That is what I was used to, and what I had paid most recently. But the fierce consumer in me won out, and I drove to the area with the best prices, I think $1.57/gallon or so. 

I get it. I totally understand the forces that drive us to ‘wait’ or drive an extra five miles. Truth be told, I saved 60 cents. Was it worth it? Of course not, I was totally irrational. But in my mind, for some strange reason, I wanted gas for $1.57, not $1.63. But anything beat the $2 I’d be paying just over the border! Silly, but true stories often are just that. 

What would have happened if I drove ten miles out of the way, and gas prices actually started going up? Let’s say I was waiting for $1.57, but had to take $1.71 instead, or risk running out of gas? Was I going to beat myself up over it? Probably! But I would then be beating myself up for not taking the $1.63 when I had the chance

 

But that’s just the way things are as an American consumer. Let’s try to not beat ourselves up anymore. New Year’s resolution?

 

Jennifer Monastero

Citizens Community Bank

January 2, 2009