Shaq’s Gas Hack Goes Viral in Wake of High Fuel Prices
Normally when a very wealthy individual offers advice to the "common man" I try to not pay too much attention to it. After all, the sensibilities of someone with millions of dollars in the bank versus someone like me who doesn't carry that kind of coin just don't mesh.
The rich and famous have no idea what it's like to be poor and unknown. Okay, maybe they remember that kind of life from earlier in their youth but I don't think their reality and my reality truly match up.
Then there is Shaquille O'Neal. Over the past several years I have come to be quite the fan of the big man. I have met him a couple of times. He sometimes stops in at our studios when he is visiting in South Louisiana. He usually needs a production studio to connect to his podcast or maybe he's popping in for a visit on our local sports station.
And while Shaq is definitely a wealthy individual, he doesn't laud his good fortune over others, he tends to be very gracious and giving, especially where kids and hard-working families are involved. So, when Shaq offers advice I actually pay attention to it.
For example, the video you're about to see comes from 2018. Shaquille and the TNT Basketball Broadcast crew are discussing gas prices. Kenny Smith, who is quite well-to-do himself was complaining about having to spend $80 bucks to fill up his car.
That's when Shaquille steps in to offer some of the most brilliant economic advice I have ever heard concerning gas prices on an NBA telecast. Take a look.
It's "Shaqenomics 101" and while I understand what the rest of the panel is trying to tell Shaquille, they are obviously missing the point of his solution. Let me explain.
Kenny Smith is complaining of having to pay $80 bucks every time he fills up. Shaq's solution is to run the vehicle's fuel supply to half a tank and then put in $20 bucks worth of fuel.
The TNT panel just can't grasp what Shaq is apparently attempting to teach. They keep suggesting that formula won't work and the Smith will still be spending the same amount on gas. Which is absolutely true. But, that's not the problem that Smith was complaining about.
Smith was whining about paying $80 for a fill-up. Shaq is saying, don't let the tank get empty and you'll only need to put $20 bucks in the tank to replenish your supply. Sure you may have to stop for fuel more often but you won't get hit with that big $80 gut punch to the wallet.
Remember the video you just watched was from 2018 and the TNT crew and Shaq are still going at it even today.
It's more about psychology than economics. The Shaq method allows you to keep more of your spendable income "liquid and available" for other uses and you don't have that giant deficit in your financial planning all at once.
I think it's brilliant because the best way to get through tough times is to have a positive attitude. If it makes you feel better to only put $20 bucks in your tank while having more than half a tank then so be it.
It certainly makes more sense than any gas price solutions that we've seen come out of Washington DC.