parachute services Archives

Unlock Summer Fun Without Emptying Your Wallet

Summer can be a time for fun, relaxation, and making memories. However, it can also be an expensive time of year with vacations, activities, and increased utility bills. By being mindful of your spending and implementing some smart strategies, you can enjoy all that summer has to offer without draining your bank account.

Budgeting and Planning

Create a Summer Budget: Before summer begins, take a good look at your finances and determine how much you can realistically allocate for summer-related expenses. Factor in any vacations, day trips, entertainment, potential higher utility costs, and any summer camps or activities for children. Just a little bit of planning can go a long way!
Track Your Spending: Once you have a budget, keep track of where your money is going. This will help you identify areas where you might be overspending and allow you to make any adjustments as needed. You can use budgeting apps, spreadsheets, or even a simple notebook.
Plan Affordable Getaways: Summer vacations are a highlight of the year for many, but they don’t have to be extravagant. Consider budget-friendly destinations, explore staycation options in your local area, or travel during off-peak times to save on flights and accommodations. Look for deals on hotels and activities well in advance.
Take Advantage of Free Activities: Many communities offer free events during the summer, such as outdoor concerts, movie nights in the park, and festivals. Check your local listings for free entertainment options. Parks and recreation centers often have low-cost or free programs and activities.
Pack Lunches and Snacks: When heading out for day trips or activities, pack your own food and drinks instead of buying them along the way. This can save a significant amount of money, especially for families.

Saving on Everyday Expenses

Save on Cooling Costs: Warmer temperatures often lead to higher energy bills. Use strategies like closing curtains and blinds during the day to block sunlight, using fans to circulate air, and adjusting your thermostat a few degrees higher. Consider using smart thermostats to optimize energy usage. Regularly maintain your AC unit by cleaning or replacing filters. Try to run the AC in off hours (early in the morning or at night) to take advantage of cooler temps.
Cook at Home More Often: Dining out can add up very quickly! Take advantage of seasonal produce and cook more meals at home. Plan your meals in advance and make a grocery list (and stick to it!) to avoid impulse purchases. Consider grilling outdoors to avoid heating up your house.

Look for Sales and Discounts: Keep an eye out for summer sales events, such as holiday weekend discounts and back-to-school promotions, for potential savings on various items. Many museums and attractions offer discounts for local residents or through daily deal sites.
Reduce Transportation Costs: When possible, walk, bike, or carpool instead of driving alone. This can save on gas and reduce wear and tear on your vehicle. Check if local public transportation offers summer passes or discounts.
Utilize Free Entertainment Resources: Take advantage of your local library for free books, movies, and even events. Explore free streaming services or borrow DVDs instead of going to the movie theater. If you do go to the movies, go to the matinee whenever possible. Ask for student and senior discounts.

Smart Spending Habits

Differentiate Needs vs. Wants: Before making a purchase, especially on non-essential items, ask yourself if it’s a need or a want. Prioritize essential spending and be mindful of impulse buys. Then, direct any savings to summer fun.
Use Cash Instead of Credit: For discretionary spending, consider using cash. This can help you stay within your budget and make you more aware of how much you’re actually spending.
Automate Savings: Set up automatic transfers from your checking account to your savings account at the beginning of each summer paycheck. Even small amounts can add up over time without you having to actively think about it.
Review Subscriptions and Memberships: Take a look at your recurring subscriptions and memberships (e.g., streaming services, gym memberships) and cancel any that you don’t use regularly.
Consider a Spending Cleanse: Before summer begins, try a “no-spend” week or weekend to reset your spending habits and identify areas where you can cut back.
Involve the Family: Give small jobs to each member of the family for shared summer goals. Have the kids look for and save change, host lemonade stands, help neighbors with errands or lawn work for some extra spending money.

By implementing these summer savings tips, you can enjoy the season’s activities and maintain a healthy financial outlook. Remember that even small changes in your spending habits can lead to significant savings over time!

If you’re dealing with high interest debt payments as well, see what you can save with Parachute’s Debt Management Plan by clicking Get Started Here:

GET STARTED HERE

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.

Student Loans

From Chaos to Clarity: A Live Briefing for Student Loan Borrowers

We are excited to invite you to a FREE student loan webinar in collaboration with Education Debt Consumer Assistance Program (edcap) on Thursday, May 22, 2025 at 12:00PM ET!

Get the latest updates and expert advive to help you manage and eliminate your student loan debt. Plus, a live Q&A with student loan experts!

Together, we’ll go over:

An overview of student loan repayment options.
How Income-Driven Repayment (IDR) plans work.
Steps to qualify for Public Service Loan Forgiveness (PSLF).
Other forms of federal student loan relief.
The newest changes and developments in the federal loan system.

Please secure your spot and register at: https://www.zoom.us/webinar/register/WN_eZ4MPSKZSMuokRnYxdnKRw#/registration

If you’re in need of one-on-one advice and guidance regarding your student loan situation, Parachute is your resource for free student loan counseling https://parachutecreditcounseling.org/services/credit-budget-counseling/#student-loan-counseling Call us today! 716-712-2060

Debt, Student Loans

Beware of Student Loan Scams!!

Latest News: July 2024 Financial Update

Parachute Credit Counseling Offers FREE Student Loan Counseling

Parachute Credit Counseling, formerly known as Consumer Credit Counseling Service of Buffalo (CCCS), is Western New York region’s premier organization providing our community with the best strategies to master their credit.

Today we issue an alert about new scams that are unfortunately gaining popularity in the student loan world.

Last week, the Federal Trade Commission (FTC) announced that they shut down another bogus company. Prosperity Benefit Services, which offered “complete” student loan forgiveness…for a fee, of course. Prosperity claimed that they had an affiliation with the U.S. Department of Education and that they would help clients receive quick loan forgiveness. Neither of their assertions were true.

The FTC has seen several other fraudulent student loan debt relief companies. They delivered an official warning last week. Here are red flags to watch out for:

Scammers use official-looking names, seals, and logos to make them seem more legit. Make sure you’re working with a federal student loan servicer that’s listed on the Department of Education’s website. (And use the contact information listed there too — scammers can spoof the numbers and names of legit servicers.)
Scammers charge an upfront fee. It’s illegal for companies to charge you before they help reduce or get rid of your student loan debt.
Scammers say they need your FSA ID login information. Never give out this information. If a scammer gets your FSA ID, they could cut you off from your loan servicer — or even steal your identity.

The Good News

New York residents are eligible for Free Student Loan Counseling at Parachute Credit Counseling.

Parachute Credit Counseling recommends that borrowers contact their office to enroll in the free Student Loan Counseling program, available to all residents of New York. Parachute’s Certified Financial Counselors help NY residents consolidate their student loans and review other potential relief options and assistance with existing programs available to help borrowers reduce or eliminate their debt as well as help them in making payment plan arrangements. Call 716-712-2060 or visit https://parachutecreditcounseling.org/ for more information on our Student Loan Counseling Program.

Parachute also provides many other financial counseling services, from budgeting help to credit repair to buying a home. Nationally Certified Parachute counselors offer expert strategies for attaining financial stability, working with their clients every step of the way. Call 716-712-2060 or visit https://parachutecreditcounseling.org/ for information on financial counseling services.

Budget, Credit, Debt, Parachute Services

Top 20 Inspirational Quotes That Relate to Money

We all need a little inspiration sometimes! Here are some great quotes to give inspiration around your finances:

“The only reason for time is so we can experience change. The only reason for money is so we can experience life.” – Tony Robbins
“Investing in yourself is the best investment you can ever make. It will pay the best interest.” – Warren Buffett
Financial freedom is the ability to live the life you want, when you want, on your own terms.” – Robert Kiyosaki
“If you’re saving, you’re succeeding.” – Steve Burkholder
“The key to making money is to save money.” – Horace Greeley
“Owning a home is a keystone of wealth… both financial and emotional.” – Suze Orman
“The only time to buy something is when you can afford it.” – Thomas Jefferson
“Financial peace isn’t the absence of money; it’s the absence of worry.” – Dave Ramsey
“Budgeting is telling your money where to go, instead of wondering where it went.” – John Barnes
“The more you learn, the more you earn.” – W. Clement Stone
“Don’t tell me what your priorities are. Show me where you spend your money, and I’ll tell you what they are.” – James W. Frick
“If you don’t find a way to make money while you sleep, you will work until you die.” – Warren Buffett
“Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn
“Start where you are. Use what you have. Do what you can.” – Arthur Ashe
“Don’t be afraid to give up the good to go for the great.” – John D. Rockefeller
“The journey of a thousand miles begins with a single step.” – Lao Tzu
“The best way to predict the future is to create it.” – Peter Drucker
“You miss 100% of the shots you don’t take.” – Wayne Gretzky
“The mind is everything. What you think you become.” – Buddha
“Believe you can and you’re halfway there.” – Theodore Roosevelt

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/

Budget, Parachute Services

“Stretching Your Budget When Money is Tight” – Part 2: Tips for automobile, transportation, and other general expenses

The majority of households will all likely go through periods where money is tight due to unexpected expenses, a significant life or job change, a medical hardship, inflation/increased prices, and much more! Here are some simple, but not insignificant ways, of stretching your dollars further. Small amounts of savings do add up!

Automobile/Transportation

Organize errands/trips so that you are not backtracking and using more fuel.
Be sure you have a competitive rate for your auto insurance. Bundle renters or home owner’s insurance with your auto.
Get regular oil changes and use regular unleaded gas, unless not recommended for your automobile.
Keep your tires properly inflated.
If you are having trouble making car payments, consider downsizing your car or talk to dealer about refinancing for lower monthly payment. This will extend loan and result in more interest being paid but will help out in the short term.
Take turns driving with your children’s friends’ parents.
Independent mechanics often charge less than dealers for auto maintenance. Ask friends and family members for recommendations.
Ask mechanic about using re-constituted parts.
Consider buying a pre-owned, certified car.
Set a weekly fuel budget and stick to it by limiting unnecessary trips.
If tires need replacing, check out pre-owned, quality tires.
Vacuum and wash/wax your own car.
In nice weather, walk shorter distances or ride a bike.

General Tips/Other

Put off wants (versus needs) for a few paychecks.
Use your public library.
Consider skipping having your nails done for a few weeks or months.
Wait for tax returns for needs that can wait or for future wants.
Plan vacations at least a year in advance to save for them gradually. Travel off season.
Look for free and low-cost entertainment events such as outdoor festivals and concerts, parks, hikes.
Check out local high school and college performances and events.
Attend movies in the afternoon at matinee prices.
Temporarily pause cable and other streaming services.
Buy clothes off season.
Go to consignment shops to either get cash for clothes you already have or to buy new items.
Borrow or trade tools and equipment with neighbors, family members and friends.
Check out estate sales, garage sales and flea markets.
Go to local Goodwill, Salvation Army and Savers stores.
Know what you have at home before you buy more clothes. Many people buy items they forget they have.
Look on Facebook Marketplace or Nextdoor for discounted or free items.
Look at “scratch and dent” rooms at furniture stores.
Consider painting or staining furniture instead of buying new.
Consider pre-paid cell phone plans as they often cost less.

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/

Budget, Debt, Parachute Services

National Financial Freedom Day: A Day to Celebrate Financial Independence

National Financial Freedom Day is observed on July 1st every year. The holiday aims to raise awareness about financial freedom, which is the ability to afford the kind of life you desire without having to worry about financial constraints. There are many things you can do to achieve financial freedom, such as:

Pay off debt. This is one of the most important steps you can take to improve your financial situation. The less debt you have, the more money you will have available to save and invest.
Build an emergency fund. This is a savings account that you can use to cover unexpected expenses, such as a unexpected car expense or medical bill. Having an emergency fund will help you avoid going into debt when unexpected expenses arise.
Invest for the future. Once you have paid off debt and built an emergency fund, you can start investing your money. Investing can help you grow your wealth over time and reach your financial goals. There are many different ways to invest, so you can choose an option that is right for you. Some popular investment options include stocks, bonds, and mutual funds.

Achieving financial freedom takes time and effort, but it is possible. By following these tips, you can take steps to improve your financial situation and achieve financial independence:

Create a budget and stick to it. This will help you track your spending and make sure you are not overspending.
Live below your means. This means spending less money than you earn.
Save money regularly. Even if you can only save a small amount each month, it will add up over time.
Invest your money wisely. Do your research and choose investments that are right for you.
Be patient. It takes time to achieve financial freedom. Don’t get discouraged if you don’t see results immediately.

National Financial Freedom Day is a day to celebrate your progress and to recommit to your financial goals. We at Parachute are here to help you do just that! Give us a call at 716-712-2060 to schedule an appointment to speak with one of our skilled counselors who can help you determine steps you can take to achieve financial freedom and live the life you desire!