Parking Spot

It’s really hard to write the check to pay our taxes every year, but the consequences are dire, you could lose your parking spots. A man in Boston lost his two parking spots after it was taken by the IRS due to back taxes. I was surprised to see that the IRS was auctioning them. I thought they were busy making Star Trek videos and hunting conservative.

The parking spots went for $560,000 to a woman who owned a multimillion dollar home not far from the spots. She didn't expect the bidding to go quite so high. It’s hard to believe that millionaires spend so much on a parking space. The median price of a single-family home in Massachusetts is $313,000 the price difference between costs per square foot must be amazing. Maybe I could get a job carrying in their groceries.

In large cities some real estate agents specialize in parking spots. I want that job, it sounds like the easiest one in the world. Showings would only take 5 minutes

“Well here it is. Black top, yellow strips.”

                “Do you have pavement with white lines?”

“Sorry, all sold out.”

3 tips for avoiding buying things we really shouldn’t

1. Hold yourself accountable by confiding in a friend with good money habits.

If you tell a friend with good money habits they are likely to call you out when you are making poor decisions. Most of us take our friend’s honest advice seriously. If you really trust your friend you might be willing to give them access to your mint account. Just knowing that someone is looking out for you is often enough to make you think twice about making a purchase.

2. Evaluate who you are hanging out with.

If your friends are encouraging you to spend, then it might be a good idea to start saying encouraging them to do more frugal things. Have a game night, go to the park, or stay in and watch a movie. If they call to go to the mall, restaurant, or out for drinks, you might have to pass.

3. Sleep on it

If you are tempted to make a big purchase it might be a good idea not to attend an auction. They are designed to get you engaged in the moment and spend more then you planned. The same could be said of a pushy sales person, or a family member asking for you to co-sign.

What do spend a little more on than the average person?

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Comments

06/17/2013 10:37pm

I saw the story about the parking lot early in the week. That is just crazy, and one of the many reasons why I am happy I live in the country. 1/2 a million for a car sized piece of black top is just a tad too much in my mind

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06/18/2013 12:38pm

Yeah, I'm sure this only happens in the major cities. I used to have to go downtown Baltimore for work, and it sucks to pay parking fees.

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06/17/2013 11:44pm

HAha I can't stop laughing at:

“Well here it is. Black top, yellow strips.”

“Do you have pavement with white lines?”

“Sorry, all sold out.”

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06/18/2013 12:41pm

When I read about it, I had to stop, I mean, what a weird job. I work a job that's pretty boring to the general public, but a parking spot realtor, sounds a bit crazy to me.

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Wow, that's an expensive parking spot! I guess this is more common in cities with lots of town homes and apartment buildings as opposed to houses.

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06/18/2013 12:42pm

Yeah the supply/demand relationship seems a little crazy.

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06/18/2013 9:32am

Awesome post. I spend more on movies than most. However, living in a little tiny town, I save tons of money on gasoline and on other entertainment options.

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06/18/2013 12:43pm

I love movies also. I'm pretty good at sticking to Redbox only. On the occasion I like to do a double feature drive in.

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06/18/2013 12:15pm

Really?1? $300k for a parking spot? Wow, I wish I had that kind of money.Your three tips above are great. I am pretty lucky to have a great wife, family and friends around me that help me make good decisions with money (and outside of money). This is key to keeping your head on straight.

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06/18/2013 12:44pm

I know in high school I hung out with some friends that were way outside my income level, we spent way too much. Now a days most my friends are pretty reasonable, and I've gotten used to saying no to more expensive activities.

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06/18/2013 3:04pm

WOW! That must be some parking spot. Maybe the lines are paved in gold? Parking can be tough in LA too, but I don't think I'd resort to paying $300k for a good spot though! It isn't always easy to do, but #2 is important. If you're friends are reckless with money (which does not mean they are bad people), you are more likely to be reckless with your money too.

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06/18/2013 3:24pm

No doubt, good people can be bad with money. Money can't define a person's value.

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06/18/2013 7:09pm

WOW, I had no idea people had to pay such exorbitant prices for parking spots. Makes me grateful for my little garage. I think I overspend on food and drink sometimes. Just last week I spent more on one sushi dinner than I usually spend on a week's worth of groceries, but it was a splurge. I've also been known to get in trouble in home improvement stores!

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06/19/2013 7:02am

Though I feel sorry for the dude who lost his spot, I won't blame to millionaire who got hold of it. Obviously, she sees a need for it and maybe the need is worth more than what she paid for the parking lot!

It is said that it wouldn't be worth it for Bill Gates to pick up a $100 bill... his time is worth more. It is all about perspective...

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06/27/2013 7:45pm

We spend a lot on travel!

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