Not to intrude, but my first advice would be to include the Rose Parade in your plans. Overall I've seen it 3 times. Never gets old.
Reserved bleacher seats aren't cheap, but in the context of a trip to SoCal, they aren't outrageous. Having reserved seating and parking definitely has it's selling points. Note that if you buy one of the "official packages," parade arrangements may be included. In that case the tour bus would probably take you to the parade.
On the other hand, watching for free on the other side of the street is a viable option. The Plan: Arrive a little earlier, chose a vantage point about two-thirds of the way down the parade route, and be prepared to stand for the duration of the parade. People in the first couple of rows will probably have spent the night, and will have lawn chairs, sleeping bags or both. But if you can position yourself immediately behind the overnighters, you'll be able to see just fine.
Best of luck!