"That being said, I am surprised that the current price of gas hasn't had more of an impact on what people are doing. For those who answered that way, why is that?"I drive 100 miles a week in my Prius....and that costs be about $8 or $9/week. Not a big deal. I east out 7 nights a week, and average probably $7-$8 night.....Lost in the noise..My hobby is travel. I do about 20,000-25,000 miles a year. I spend $50-80 on a motel, $25 on meals, so an extra $20 or $30 goinn into the gas tank isn't going to stop my travel. It hurts when you do the last 1400 miles in 2 days, and put $90 in gas each day into the tank, but I figure the total cost for the trip. An extra $300 in gas isn't going to stop me. I might have to up my withdrawal rate by 0.1 or 0.2% to cover it...but this year I start collecting $1000/mo in social security and it will provide lots of travel money......hit 62. Why should I cut back? Buick gets 29 mpg on the road...anoother 15K miles and it will be up to 200K, and maybe I'll sell it and use the Prius for trips. Not as comfy, but we'll see.Gas isn't going down. Likely to keep going up year after year. My budget isn't that tight. THat's why I'm not cutting back. Don't have to. Many in this town have good incomes and might have to give up a meal out every now and then, or not buy something this month..but lots of dual income families making well over $100K combined....many $150K combined....It's the lower income folks getting squeezed.t.
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