I carry my K1000 the exact same way and leave the lens cap at home or in the car. I put the cap back on at the end of the day.
This K1000 battery switch phobia is an odd thing to me. People have switches on their cameras today and they still have to take the battery out and put them in a charger every day.
My last battery lasted almost 4 years. If yours does not last that long then you are either using really cheap (oops, inexpensive) batteries or you left that camera sit next to a window somewhere with no cap on the lens for a lot longer than you thought.
Most of the manufacturers of those classic cameras recommended that you put new batteries in the camera once every year.
EDIT - Besides folks, the last time I bought a set of three of these at Walmart it was $4. Not what I consider a budget breaker.