It does not take a rocket scientist to know that rocketing effect of higher gasoline prices will affect the economy, especially an individual's entertainment spending. Gasoline prices throughout the United States, now average over $2.00 a gallon. Something has to give, maybe only one night a week at the club or a reduction in eating out.

Let's all take a deep breath. If your tank is 10 gallons then that's twenty dollars a fill up on regular unleaded gasoline. If you have to fill up twice a week, that can equate to two to four hours of a work day, depending on your salary. If these gas prices continue, people will be cutting back, it's a natural reaction. Hopefully they will consider eliminating entertainment before reducing their retirement contributions.

If you were used to paying twenty-six dollars a week for gas, and now must shell out fifty-two, that will cost an extra $1,352 a year in out of pocket expenses. That extra $112.67 a month, you may have been depending on that for a special dinner, maybe an anniversary or tickets for a concert. Some sacrifices are going to be made as a result of these higher gasoline prices. It may take a quarter or two to show a significant affect on the economy. Meanwhile some people may be staying at home this Saturday evening.

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