Category: Parachute Services

Budget, Parachute Services

Post-Holiday Budget Hacks for the New Year; It’s Never Too Early!  

Post-holiday budget planning is the process of getting your finances back on track after the holiday season. This can be a challenge, especially if you overspent. But, by taking some simple steps, you can get back on the right track and avoid financial stress in the new year. It can take some time to recover financially after the holidays, but consistency can make a huge difference over time. Be patient with the process and regroup for next year!

Additionally, reading this BEFORE the New Year of 2024 rings in can also be super helpful for this year’s holiday season.

Here are some tips for post-holiday budgeting:

Review your spending. The first step is to take a look at your spending and see where your money went during the holidays. This will help you identify areas where you can cut back in the future. You can use a spreadsheet or budgeting app to track your spending.

Pay down debt. If you overspent during the holidays, you may have some credit card debt to pay off. Make a plan to pay down this debt as quickly as possible to avoid high interest charges. Pay more than the minimum payments required, if at all possible. If possible, consider using all or part of any tax returns to pay down this debt.

Revise your budget. Once you have a good understanding of your spending and debt, it’s time to revise your budget. This may involve cutting back on unnecessary expenses or increasing your income, even if on a temporary basis. You may be back on track after a few months! 

Set financial goals. Having financial goals will help you stay motivated. Some common financial goals include saving for a down payment on a house, retirement, or a child’s education. Really be specific with your financial goals to help them materialize. Write out those goals and look at them frequently. 

Create a holiday spending plan for next year. Start thinking about your holiday spending for next year now. This will help you avoid overspending again.

Shop around for the best deals throughout the year. Compare prices at different stores and online before you buy anything. Consider dollar, thrift, and discount/liquidation stores.

Take advantage of sales and coupons. There are always sales, coupons and promo codes available, so be sure to check for them before you buy anything.

Take advantage of post-holiday sales. Many retailers offer discounts on leftover holiday merchandise after the holidays. This is a great time to stock up on items you need or want at a reduced price. Be sure to store them in a place you’ll remember!

Return unwanted gifts. If you received gifts that you don’t want or need, return them for a refund or exchange. This will help you get some your money back and/or buy things you actually need.

Regift items. You can regift items that you do not want or need. Keeping inventory of what gift you received from what person can help this be a successful plan from year to year. 

Sell unwanted gifts or belongings. If you have unwanted gifts or belongings that you can’t return, consider selling them online or at a garage sale. This is a great way to declutter your home and make some extra money.

Cancel unused subscriptions. Take some time to review your subscriptions and cancel any that you’re no longer using. Be honest with yourself about what you are likely to use in the future. This could include magazine subscriptions, streaming services, and gym memberships.

Here are some additional tips:

Automate your finances. Set up automatic transfers from your checking account to your savings account each month. This will help you reach your financial goals without even having to think about it. Start with a small amount, if needed, and increase it as is feasible for you.

Use cash instead of credit cards. When you use cash, you’re much more likely to be mindful of your spending. People tend to spend less when using cash.

Review your insurance policies. At the beginning of each year, make sure you’re getting the best possible rates on your insurance policies. You may be able to save money by bundling your policies or shopping around for new providers.

Getting back on track financially after the holidays can be challenging, but it’s important to remember that you’re not alone. There are many resources available to help you, and with a little effort, you can get back on track!

If you’re dealing with high interest debt payments as well, see what you can save with Parachute’s Debt Management Plan https://parachutecreditcounseling.org/dmp-calculator/

Would you like to meet one-on-one with one of our Financial Counselors to talk specifically about your budget? Check out our Financial Coaching Session https://parachutecreditcounseling.org/services/credit-budget-counseling/#financial-coaching  or call 716-712-2060.

Parachute Services, Uncategorized

We’re Hiring a Financial Wellness Specialist!

We are excited to announce an opportunity to join the Parachute Team as a Financial Wellness Specialist. Please spread the word!

A Financial Wellness Specialist’s primary responsibility is to conduct counseling sessions with individuals and families regarding budgeting, debt and credit issues.  A Specialist will provide financial education and guidance while recommending various educational and community programs in order to improve clients’ financial situations.  Financial Wellness Specialist’s empower clients to take control of their financial lives, in an empathetic and compassionate manner, while always accounting for what will be in the client’s best interest based on the client’s unique situation. Financial Wellness Specialist’s also provide Counseling Intake support at the initial contact point for clients and all general incoming calls, requiring patience and positive energy.  Financial Wellness Specialists answer incoming calls, direct calls, greet clients and guests in-person at reception window.

Qualifications:

  • Strong teamwork skills essential
  • Knowledge of computer applications, with proficiency in Microsoft Word and Excel
  • Excellent oral and written communication skills
  • Ability to multi-task 
  • Must be able to work efficiently under strict deadlines/timeframes
  • Must attain educational certifications, as required
  • Position requires attention to detail and basic math/accounting skills
  • Prior case management and/or counseling experience helpful, or experience within Agency
  • Associate and/or Bachelor Degree preferred

About Parachute

Parachute is a non-profit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling and credit repayment assistance to consumers since 1965. Parachute helps consumers trim expenses, develop a spending plan and repay debts. Counseling is available at our Main Office in West Seneca, by telephone and online.

Hourly rate range for this position is $17.00 – $20.00. Individual compensation is based on various factors unique to each candidate, including skill set, experience, qualifications and other job-related reasons. We offer growth opportunities for professional development along with hourly pay increases. Other benefits include:

  • 401(k) Plan
  • Paid Holidays
  • Paid Personal Time Off (PTO)
  • Life and Disability Insurance
  • Health Insurance
  • Remote work availability one day a week with supplemental throughout the year

Please send resumes to:  robert.dunn@parachutecredit.org

Budget, Parachute Services

15 Universal Truths About Money

Here are 15 universal truths about money. Recognizing them will help you better understand the role that money plays in your life and how to best handle money to achieve your financial goals and attain financial security.

  1. Money is a tool; a means to achieve your goals.
  2. You can’t outspend your income. No matter how much money you make, if you spend more than you earn, you will eventually go into debt.
  3. Saving money is important. It gives you a financial cushion in case of unexpected expenses, and it helps you reach your long-term goals.
  4. Investing your money is a smart way to grow your wealth over time. But it’s important to do your research, understand the risks involved and seek guidance from a professional you trust.
  5. Debt can be a burden. But it can also be a tool to help you achieve your goals. Just make sure you borrow responsibly and pay off your debt as quickly as possible.
  6. Your spending habits matter. The way you spend your money (your own money habits) can have a big impact on your financial future. Small amounts of savings grow to big amounts just like small expenses over time add up to large expenses.
  7. Comparing yourself to others is not helpful to your financial health. Everyone’s financial situation is different. Focus on your goals and make sure you are on track. Stay in your own lane!
  8. It’s never too late to start saving and investing. Even if you are starting late, it is never too late to make a difference.
  9. Get help if you need it. There are plenty of resources available to help you with your finances. Don’t be afraid to ask for help from agencies like Parachute!
  10. Money is not everything. It is important to have financial security, but it is also important to enjoy your life and live within your means.
  11. There will always be things that you want in the short term and cannot afford. It’s true for everyone!
  12. Financial success is influenced heavily by your behavior with money. Consistent patterns are powerful.
  13. Appearances are very deceiving. Just because someone looks like they have a lot of money, simply may mean they spent a lot of money and they be may be in significant debt.
  14. Having a lot of material possessions (stuff) is not the same as having financial security.
  15. Financial success involves what you earn, what you keep, what you grow (i.e., investments) and what you preserve.

These are just a few of the many truths about money. The most important thing is to learn about your finances and make smart decisions with your money. By doing so, you can achieve your financial goals!

If you’re dealing with high interest debt payments as well, see what you can save with Parachute’s Debt Management Plan https://parachutecreditcounseling.org/dmp-calculator/

Would you like to meet one-on-one with one of our Financial Counselors to talk specifically about your budget? Check out our Financial Coaching Session https://parachutecreditcounseling.org/services/credit-budget-counseling/#financial-coaching  or call 716-712-2060.

Budget, Parachute Services

Budgeting for the Holidays – Part Two

The holidays will be here soon and they are a “season”, not just a singular day or event; and, there can be several events! There may be parties and celebrations where you are expected to bring a dish, and/or provide a gift(s) and also meet family and friends out for lunches and dinners. The costs add up!

The holiday season can also include other celebrations such as birthdays, anniversaries or even weddings. Finally, winter is the time where added expenses can come into play such as higher utility (e.g., heat, electric) bills, and unexpected car expenses like batteries and tires that need replacing.

How do you cover these expenses without completely exhausting your budget and getting yourself in post-holiday debt?

Consider several of the suggestions below to help reduce the expense and stress of the holiday season. Ideally, an early and clear plan communicated to your family and friends can help a lot! If you haven’t already, check out Budgeting for the Holidays – Part 1 for more tips!

  1. Try not to get too caught up in Black Friday deals. Many times, people spend far more on other items than they actually save by battling the crowds and spending a lot of time and gas.
  2. Don’t forget discount and dollar stores for cards, tissue paper, gift bags, boxes, and small thoughtful gifts like candles and picture frames.
  3. Delay some family and friend get togethers to late December or January to take advantage of fantastic post-holiday sales. Remember, it is really your thoughtfulness that counts the most.
  4. Shop post-holiday sales for gifts for next year.
  5. Consider buying everyday use gifts. Buy someone’s favorite cereal, coffee, muffins or snacks. Gift cards for essentials like groceries and gas are also often appreciated.
  6. If your family and friends have favorite charities, you can make small donations in their name (e.g., an animal shelter or food bank).
  7. Make a pact to exchange gifts you already have in your home with friends and possibly some family members.
  8. Gifts can be experiences! Offer babysitting services, wash someone’s car for a few months, pet sit or do errands. You can get really creative here.
  9. Be truthful with yourself and your family about what you can and can’t afford. Set expectations early to help avoid disappointment.
  10. What you can’t buy during the holidays is an opportunity for the next holiday season (or for a birthday or other special occasion) and you can use the added time to save.
  11. Finally, try to avoid the mindset that your love for your friends and family equates to how much you spend on them. Most of the time, it is not feasible to buy everything we want to buy for everyone we want to buy for without significantly hurting our budgets and our overall financial well-being.

If you’re dealing with high interest debt payments as well, see what you can save with Parachute’s Debt Management Plan https://parachutecreditcounseling.org/dmp-calculator/

Would you like to meet one-on-one with one of our Financial Counselors to talk specifically about your budget? Check out our Financial Coaching Session https://parachutecreditcounseling.org/services/credit-budget-counseling/#financial-coaching  or call 716-712-2060.

Parachute Services, Uncategorized

We’re Hiring a Client Care Specialist!

We are excited to announce an opportunity to join the Parachute Team as a Client Care Specialist. Please spread the word!

Job Description

  Job Title: Client Care Specialist (full-time)  Supervisor: Executive Vice President

Summary

Client Care Specialists are the contact for most clients and creditors on a Debt Management Plan (DMP) with Parachute. A Specialist’s responsibilities include contact with clients and creditors, answering questions, addressing concerns, responding to proposals or other issues, assisting in the maintenance of other responsibilities and working proactively by collaborating with co-workers to better achieve successful completions of future active clients.

Qualifications

  • Strong teamwork skills essential
  • Knowledge of computer applications, with proficiency in Microsoft Word and Excel
  • Excellent oral and written communication skills
  • Ability to multi-task
  • Must be able to work efficiently under strict deadlines
  • Must attain educational certifications, as required
  • Position requires attention to detail and basic math/accounting skills
  • Prior case management and/or counseling experience helpful, or experience within Agency
  • Associate and/or bachelor’s degree preferred

About Parachute

Parachute is a non-profit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling and credit repayment assistance to consumers since 1965. Parachute helps consumers trim expenses, develop a spending plan and repay debts. Counseling is available at our Main Office in West Seneca, by telephone and online.

Hourly rate range for this position is $16.00 – $19.00. Individual compensation is based on various factors unique to each candidate, including skill set, experience, qualifications and other job-related reasons. Other benefits include:

  • 401(k) Plan
  • Paid Holidays
  • Paid Personal Time Off (PTO)
  • Life and Disability Insurance
  • Health Insurance
  • Remote work availability one day a week with supplemental throughout the year

Please send résumés to: scott.laughlin@parachutecredit.org

Budget, Parachute Services

Budgeting for the Holidays – Part One

The holidays will be here soon and they are a “season”, not just a singular day or event; and, there can be several events! There may be parties and celebrations where you are expected to bring a dish, and/or provide a gift(s) and also meet family and friends out for lunches and dinners. The costs add up!

The holiday season can also include other celebrations such as birthdays, anniversaries or even weddings. Finally, winter is the time where added expenses can come into play such as higher utility (e.g., heat, electric) bills, and unexpected car expenses like batteries and tires that need replacing.

How do you cover these expenses without completely exhausting your budget and getting yourself in post-holiday debt?

Consider several of the suggestions below to help reduce the expense and stress of the holiday season. Ideally, an early and clear plan communicated to your family and friends can help a lot!

  1. Have the list of WHO you will shop for and stick to it! Make agreements with your family and friends as to WHO you will buy for and HOW MUCH you will each spend. It’s very tempting to want to buy “a little something” for others, especially items under $20, but it adds up fast!
  2. If you have large extended family or circle of friends, pick ONE name for each group.
  3. Discuss possible family gifts that you all will enjoy. Start collecting change as a family starting each early each year (January) to help reduce the cost of bigger family gifts. If your children have part-time jobs, ask them for $2-5 a paycheck to help support a significant family gift.
  4. Shopping for items (e.g., at a spring craft show, summer fairs) throughout the year makes a BIG difference! There are sales all year round! It is just a little pre-planning to build your gift inventory throughout the year.
  5. Buy items for your food pantry early, ideally when they are on sale or when you have more spare funds. If your extended family knows you bring a signature dish every year, consider buying non-perishable ingredients early on and then place them in a separate storage area for the holidays. 
  6. Buy food staples at discount stores such as Aldi, Save-A-Lot and Price Rite.
  7. Buy food items in bulk, if possible.
  8. Don’t feel obligated to attend EVERY holiday invite you receive.
  9. Open a separate bank account to systematically save for the holidays. Set aside a manageable amount of money for a bank or credit union account that is offering a high interest rate such as a money market account or a short-term (e.g., 3-6 months) Certificate of Deposit so you have your money in time to shop without incurring any penalties.
  10. Consider making or even baking some of your gifts. Personalized gifts are very memorable. Add a small ($5-$10) gift card if you like.
  11. Shop at small businesses in your area that may have unique and reasonably priced gifts.
  12. Try not to get too caught up in Black Friday deals. Many times, people spend far more on other items than they actually save by battling the crowds and spending a lot of time and gas.

Keep a look out for Budgeting for the Holidays Part Two coming soon!

If you’re dealing with high interest debt payments as well, see what you can save with Parachute’s Debt Management Plan https://parachutecreditcounseling.org/dmp-calculator/

Would you like to meet one-on-one with one of our Financial Counselors to talk specifically about your budget? Check out our Financial Coaching Session https://parachutecreditcounseling.org/services/credit-budget-counseling/#financial-coaching  or call 716-712-2060.