Ways to Save Everyday: The Price of Parking
August 20th, 2006 | by Molly's Brother |When we look at our monthly budget, we might think like there are some expenses that can’t be eliminated nor can they be reduced. Mortgage/rent and insurance premiums are such expenses. Often times, we lump our parking-related costs into this unmovable mount. However, parking is one of the most flexible budget items that most of us never think about.
Parking for Life
When I first moved to Los Angeles, I didn’t think twice on a night out about parking in garages and lots that charged anywhere from $10 to $20 for the evening. I used to meet friends for dinner and drinks up to five times a week. The cost of parking quickly added up. However, I have since developed a fuller respect in terms of how I spend my money. Nowadays, I will rarely pay such prices for parking. When I’m meeting friends out for the night, I spend an extra few minutes looking for curbside parking. However, this sometimes comes with a steep price, as well, if you don’t pay attention to the restrictions posted on street signs. (And trust me a declaration of “It’ll be fine,” only seems to incur the wrath of the Parking Gods.)
Furthermore, pay attention to how much money you’re dropping in parking meters, too. If you’re looking for extra money to dump into your savings at the end of the month or to throw towards that mountain of debt, every little bit counts. For those of you who don’t live in a city, don’t laugh. A quarter buys you a full 12 minutes of parking time here in Los Angeles. On my busy days running around town, it’s not unheard of for me to drop around ten dollars into a parking meter. (Some days, you have no choice.)
Parking for Home
For those of you who have to park on the street: I. Feel. Your. Pain. We only have one spot and two cars and, more often than not, my car ends up on the street. And, more often than not, I have to wake up extra early two days a week to move my car for the street sweeper or I face another parking ticket. And in my early morning-stupor, I used to completely forget about it.
I’ve paid so many parking tickets over the course of the past three years, that I’m sure I’ve entirely funded some senior citizen program for my community.
I’ve since developed a system of covering my alarm clock with a note as a way to remind me in the wee hours of the morning that I am parked on the wrong side of the street. If you have a problem remembering to move your car, this might help for you.
Parking for Work
The cost of parking your car at work can be thousands of dollars a year. If such an expense is stretching you financially, find a way to reduce it or eliminate it entirely. There are many creative options to reduce the price of parking. Below are just a few:
- Research surrounding parking structures and find a cheaper one.
- Carpool with a neighbor who works in your area or a coworker who lives in your neighborhood.
- Ride your bike to work.
- Use public transportation.
In finding ways to reduce the amount of cash you dole out on parking, you might also discover an added benefit–a reduced gas bill.
There Are Ways to Save
At first glance, parking seems like an unavoidable, unmalleable expense. However, by tracking your spending and figuring out how much you’re spending on it, it gives you a greater desire to obliterate the outlay. With some creative thinking and intentional spending, you’ll discover that–with parking and other line items in our personal budget–there are ways to save everyday.
(P.S. Thank you Mark for putting this “parking” seed in my head!)
