Overspend To Save

You must be thinking, “Ok, Buck has completely gone off the deep end!” Hear me out, it stings, but hopefully everyone learns from my mistake.

Yesterday I could have overspent some money that would have saved me, 4600% of that money. Any guesses? Initially, it looks like any form of insurance. You pay a premium in case of an accident and hopefully most of your expenses will be covered if it does occur. You could say the same about life, car, medical, just about anything. If I could turn back time, I should have thought of this as parking insurance.

My wife and I wanted to go shopping and found a metered parking. We estimated we would stay one and a half hours. My instincts kicked in, knowing my wife, I better make it two. She hedged and said, no we won’t be that long. Plus I’m thinking she wanted to save us the fifty cents. My frugal self won out and agreed.

Long story short, my instincts were right (always go with your instincts). We got distracted, I tried to get us back in time, cut it a little too close and we got a nice window souvenir a few minutes earlier. Parking ticket, $23.00.

I screamed, “I KNEW IT!!!” I breathed, fighting every iota of negative energy boiling in my frugal body. “I HAD A FEELING THIS WOULD HAPPEN!!!” Thankfully, cooler heads prevailed and I let it go.

Learn from my mistake and remember, sometimes you have to overspend to save. Can you think of other times where you should overspend to save?

Stay Inspired!
Buck

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12 Responses

  1. MoneyCone says:

    The Brits say ‘Penny wise, pound foolish’! I’m sure this has happened to all of us!

    For me it was a double whammy – I could’ve paid the parking ticket by CC but that incurs extra charges, so I mailed in the check, check got lost in mail (or so they claim), fine tripled and finally paid it via… you guessed it – credit card!

  2. Squirrelers says:

    It’s happened to me before.

    “Oh, I won’t take that long”.

    Me: Hmmn….I think it will take even longer, but I want to believe that it won’t take long, so I’ll just put a few quarters in the meter.

    Result: A parking ticket. $30 down the drain!

    • Buck Inspire says:

      Misery loves company. 🙂 Sometimes our frugality costs us, big time. I tried saving a few quarters and got your same unpleasant result. Need to find that happy medium.

  3. krantcents says:

    I hate when that happens! My story is the opposite. My wife and I went out to dinner. It used to be, unlimited parking after 6PM until the budget crisis. They extended to 8 PM. We arrived at 7 PM and I used our credit card, but it was dark. You could not see what you were doing, so I ended up putting in for two hours instead of one. Waste of money, but better than a ticket. In Los Angeles, they have really cracked down on parking and increased fees on all tickets to generate income for the city.

    • Buck Inspire says:

      Lucky you. One time I put in some money while buying some food. I peeked every so often and never saw the patrol car. So in essense, I could have saved that parking money. I have to get it into my thick skull, parking ticket is greater than feeding the meter. 🙂

  4. 23 bucks is pretty cheap for a parking ticket.
    About 15 years ago, I lived in an apartment in an area that allows only 2 hours parking unless you get a residential sticker from the city. This was enforced on M-F 7am to 6pm and I’m always off to work on those days. Of course, I got a day off and forgot to move the car and got a $60 ticket.
    I went to the city later that day and got the $30 sticker and was able to get rid of the ticket. 🙂
    Sometime being cheap is not the best solution.

    • Buck Inspire says:

      On second thought, we got away lucky. I thought we were kissing at least fifty bucks goodbye. Can’t complain too much, but a 4600% mark up better be a lesson learned. Nice move on getting your parking sticker and waiving the ticket. A true personal finance blogger till the end. 🙂

  5. Keith Dennis says:

    Good post! The only thing I can think of to feel like you are overspending on is legal help. Setting up your corporate structures and makings sure everything is airtight can save hundreds of thousands of dollars in the event of a lawsuit in the future.

    Keith

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