Clever solution to parking headaches

Tim Bennett rounds up this week’s personal finance news, including a handy online parking scheme; how to sponsor an entrepreneur for a tenner; and more bad news for first-time buyers.

Parking in some cities can be a nightmare. One solution is to use Parkatmyhouse.com. Anyone with spare driveway space or allocated parking that they don't use can use the site to advertise their spaces to drivers who need somewhere to leave their car. Slots can typically be booked from as little as a few hours, to weeks at a time.

The space I booked recently, ten minutes from Oxford's busy city centre, cost me £5 for the day that's quite a bit cheaper than the nearest public carpark. This is a very sensible scheme that solves a trying problem and could generate handy extra income for those with spare parking space. It deserves to do well.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.