The Average American Spends $1,300. a Year on Parking

More money is spent each year on parking than on car maintenance and insurance.
3:00 | 12/14/13

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Transcript for The Average American Spends $1,300. a Year on Parking
and next here tonight, our real money team is back, if you're doing holiday shopping this weekend, or driving to the airport, you'll be in that amazing race for a parking spot. The average american family spends almost $1300 a year on parking, more to park our cars than insurance and maintenance. Abc's paula faris shows you how to keep the money in your pockets. Reporter: John and jennifer law are driving in circles spinning their wheels on the high cost of parking. They're dropping an eye popping $785 every month for work, appointments and events. Astronomical when you break down the numbers. You're making me think about it. Reporter: But our parking expert jeremy smith says parking shouldn't put the law's budge net over drive. Tip number one, never pay full price, find a monthly spot for 30% less than what john is paying. Located just a few blocks from where you're going. Reporter: If you're flying to grandma's house for the holidays check out the app airport parking sdofrs discounted lots that have free transport to the airport. Tip two, did you know rates fluctuate wildly from block to block? In chicago downtown parking was $42, but just five blocks south, only 13. Tip number three, when attending that big game or holiday concert, prepay on sites like park whiz.Com, they guarantee you a spot. Finally, find metered parking without driving round and round. How much time are you wasting? 20 minutes every time I come in. Reporter: Using an app called parker, find realtime parking spots in 40 cities. It says there is plenty of parking in this area. Two spots. Just like they predicted. In all, we estimate the laws can park over $2800 back in their pocketbook this year. That's real money. Reporter: Paula faris, abc news, new york.

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