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Young consumers concerned about gas prices

Posted On Thu, March 22, 2012

A recent report from Generation Opportunity found that many young Americans are frustrated about rising gasoline costs.

The report found that nearly 80 percent of young people have to delay major purchases due to the current state of the economy. Close to half of those polled said they needed to wait on purchasing a home, while another 28 percent noted having to wait on saving for retirement. Approximately one-quarter of young people said that their finances are affecting their ability to start a family.

In order to curb the strain on their wallets, seven in 10 would prefer that the United States increased production of energy sources within its own borders, according to the report. Furthermore, 61 percent noted that energy dependency is one of the top three economic security issues in the United States.

"Gas prices are a one-two punch to young people in this poor economy," said Paul Conway, president of Generation Opportunity and former chief of staff of the U.S. Department of Labor. "Rapidly rising gas prices are hitting young people across the country particularly hard, exponentially increasing the cost of most activities they engage in and adding to their costs in finding a job or getting to work."

Consumers frustrated about high gas prices may want to make financial adjustments elsewhere in their life. However, doing so doesn't mean a person has to sacrifice on necessities. One of the best ways to deal with this situation is to try to lower auto insurance rates. A good method to accomplish this is to compare auto insurance quotes online. Many options may be available, and a person doesn't necessarily have to skimp on their options in order to get a less expensive plan.

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