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How to Save Money During Pride Season

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Pride Parade and Festival in Salt Lake City on Sunday, June 3, 2018. Photo by Kim Raff

Pride season is now in full swing. Though officially celebrated in June to commemorate the iconic 1969 Stonewall riots (which is celebrating its 50th anniversary this year), cities and regions across the world will be holding LGBTQ pride events throughout the summer and fall. Whether you want to attend festivals, parades, marches or parties, there are nearly countless events to choose from.

While many of these Pride events are free to attend, some aren’t — and even if admission itself is free, there are other expenses of attending, such as food, outfits and decorations. There’s also the cost of transportation. Many people travel outside of their immediate area for Pride celebrations, whether it’s because their city doesn’t have any, or because they want to participate in bigger events elsewhere.

Even if you’ve managed to save money ahead of time, attending Pride festivities doesn’t have to break the bank. Here are some expert tips for celebrating on a budget.

Look for free events

While some Pride events do require paid tickets, many of the parades, festivals and marches are still free. For example, Houston Pride has one of the country’s largest free pride festivals, claimed Radu Barbuceanu, Public Relations Director of Houston Pride – and the organization wants to keep the celebration as affordable as possible. New York Pride has numerous ticketed parties, screenings and brunches that cost money, but the festival and parade itself cost nothing to attend.

In addition to official Pride events, many cities are also home to numerous unofficial Pride parties and events that have free admission. And depending on where you go, there might even be free things to do beyond your typical Pride experiences. For example, Barbuceanu said, the Contemporary Arts Museum of Houston, which is free to the public, is featuring a “Stonewall 50” exhibit to recognize the work of LGBTQ artists. He added that many other local museums and organizations are hosting events to mark the 50th anniversary of Stonewall, giving visitors and residents plenty of ways to explore and celebrate Pride without spending much, if any, money.

Find affordable accomodations

If you’re traveling to an out-of-town pride event, know that sometimes, the local Pride organization has arranged for affordable housing for attendees. For example, as a large organization, Houston Pride was able to obtain what’s called “conference pricing” to land discounts at two local hotels. “We have access to this opportunity to have hotel blocks at various hotels, and we have it at the Hilton and Hyatt for $99 for a night,” Barbuceanu said. “That’s something that everyone should know and take advantage of.”

Check the website of the Pride organization where you’re traveling to see if they have secured any deals like this. If not, or if that’s still too pricey, Barbuceanu added that Airbnb and couchsurfing are other ways to find affordable accommodations wherever you plan to go.

Don’t feel the need to travel

Sure, all of your friends might be headed to New York City or San Francisco Pride, and it would be epic to join them. But traveling for Pride events can be costly, and it isn’t truly necessary to celebrate being in the LGBTQ community.

“Realize that you don’t need to travel to attend Pride, hopefully there is a Pride within driving distance of you,” said Raymond Braun, an LGBTQ media personality, and executive producer and host of the new documentary State of Pride. “If not, it could be an amazing opportunity for you to get involved with your community, working with your local LGBTQ youth center or other groups of like-minded people to start your own gathering, which can be as modest as getting a flag on a picnic table and encouraging people to come out and meet fellow members of the community and just hang.”

Get creative with your Pride outfit

Pride is a time when everyone loves to dress up in festive attire or colorful costumes, and it’s tempting to go online and buy everything rainbow that you can find. “But because those looks are so distinct, a lot of people tend to only wear them once or twice,” Braun said. To save money, he suggests sharing outfits with friends. You and a friend can swap and wear what the other wore last year, for example. Braun also suggested going to a local consignment or thrift store to find something colorful and affordable.

Bring your own snacks

One of the more expensive parts of Pride festivals can be the food and drinks, Braun said, so rather than buying everything while out and about, pack like you’re going to a picnic. “Have your Pride pack with granola bars, a bottle of water and those essentials so you don’t need to splurge as much with concessions while you’re actually there,” he said. Keep in mind that some Pride events don’t permit you to bring in outside food or drink, so check the rules before you go.

Remember the spirit of Pride

While it’s easy to get caught up in the costumes and parties, don’t forget what Pride is really about. “For me, you don’t need to pay any money for the most important aspects of Pride,” Braun said, “which is an opportunity to be around people from the LGBTQ community, to connect, to show support for each other, to try to create a space where people can be their most authentic selves.”

Feeling affirmed and seen, celebrating our history and the trailblazers that made it possible is the essence of Pride, he said, and you don’t have to spend any money to be part of that experience.

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Emily Starbuck Gerson
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Emily Starbuck Gerson is a writer at MagnifyMoney. You can email Emily here

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Study: Millennials Depend on the Bank of Mom and Dad

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Millennials are advancing steadily into middle age. But statistically speaking, America’s largest generation retains one characteristic of their youth: Widespread dependence on their parents to help pay the bills.

A new survey reveals that even millennials who think of themselves as independent on money matters still hit up their parents for regular, recurring expenses. Of those surveyed, 54% claimed they stood on their own two feet, but when pressed a further 30% of those admitted to leaning on their parents to help cover costs on everything from groceries to car insurance.

The costs being covered by parents

For the most part, millennials aren’t hitting up their parents for cash to cover extravagant, one-off charges like airfare for an Instagram-worthy vacation. Instead, the survey found millennials ask mom and dad for help making ends meet for living expenses, such as the phone bill, food and rent. For example, of the millennials who receive monthly help from their parents, 48% of respondents say the money helps cover the phone bill. A more detailed breakdown can be seen in the graph below:


Besides these day-to-day costs, emergency spending requires a call home for some millennials. About 15% of all survey respondents said they would need help from their parents to cover a sudden $1,000 expense. Instead, most would opt to use either cash or savings, provided those savings weren’t earmarked for retirement in a tax-advantaged account.

Millennial money worries

Dipping into your emergency fund to repair a hole in the ceiling is a good strategy (and a reason why you save), while making a withdrawal from your savings account to pay for a bottle of rosé is not. Unfortunately a staggering 70% of millennials surveyed admitted to using savings to cover non-emergency expenses.


To use a favorite phrase of millennials, “this is problematic.” A savings account can only be drawn upon six times a month via debit card or check (due to federal regulations) and you don’t want to waste one of your six free withdrawals to pay for a pint of Americone Dream. Even worse, the money spent on non-emergency expenses won’t be there when you need it to pay for an unexpected, urgent cost.

Another metric of financial health where millennials could stand to improve is retirement savings. While 58% of the millennials surveyed claimed to save money with either each paycheck or once a month, 44% don’t have any sort of retirement savings account — either a private one or through work.


To be fair, millennials aren’t exactly celebrating these personal finance failures. Approximately 57% said they regretted how they’ve spent money from their savings account, and a little over 36% said that during the past week, they felt anxiety about their finances every single day.

The numbers behind the stress

A significant financial worry on millennials’ minds is not having enough money. While we’re pretty sure everyone, regardless of age, would like to have more money, a recent study by the Federal Reserve underscores that millennials are particularly hard-strapped for cash.

Titled “Are Millennials Different?”, the report found when compared to members of Generation X and Baby Boomers when they were roughly the same age as today’s millennials, the millennials have less means to deal with their financial challenges.

As the authors of the report put it in the conclusion of the report, “We showed that millennials do have lower real incomes than members of earlier generations when they were at similar ages, and millennials also appear to have accumulated fewer assets. The comparisons for debt are somewhat mixed, but it seems fair to conclude that millennials have levels of real debt that are about the same as those of members of Generation X when they were young and more than those of the baby boomers.”

How can millennials do better?

Besides winning the lottery, what else can millennials do to improve their financial situation and rely less on their parents?

“Many millennials are skeptical of the market,” said Dallen Haws, a financial planner based in Arizona. “Although it’s good that they are not investing willy-nilly, it will be very important that they get comfortable with investing to be able to reach their full financial potential.” Read more on how millennials (and everyone else) can start investing with an eye toward retirement.

Millennials should also embrace the power of austerity. That doesn’t mean living like a monk, but it does mean thinking twice (or thrice) about making big-ticket purchases and whether or not they are affordable.

“Without question, the biggest regret amongst millennials I work with is overpaying for a car,” said Rick Vazza, a CFA/CFP based in San Diego. “Some of my most successful young members have happily continued holding on to inexpensive cars allowing them to funnel more money toward travel, retirement funds or a down payment.”

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James Ellis
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7 Ways to Cool Down Summer Spending

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Summer is here and that means a few different things: battles with kids over sunscreen application, increased outdoor activities and a strained bank account. According to a 2018 study from LendEDU, the average adult American spends $2,229 during the summer, making it the second-most expensive season behind winter.

After being stuck inside your house for most of the colder months, it’s only natural to get excited about the outdoors and going on vacation. Unfortunately, leaving the comfort of your couch increases your expenses. Here are some tips to help you navigate the hotter months of the year without breaking a sweat.

Manage vacation expectations

One of the best ways to be able to afford a summer vacation is to work it into your yearly budget ahead of time. Steve Zakelj, a certified financial planner with Flatirons Wealth Management in Boulder, Colo. explained that a good vacation starts with planning.

“Start saving for it with $100, 500, $1,000 a month in the winter,” he said. “Set up a vacation account that gets an automatic deposit every month of the year. This way, you’re prepared for your summer trip and have a definitive budget you can use without guilt or long-term problems. Keep the monthly contributions going year-round so you’re already saving for next summer’s fun the moment you get back.”

Once you have your budget set, research places that are within your price range. If you love traveling overseas, try staying at budget-friendly, off the beaten path locations, like Sophia, Bulgaria. The average price of a hostel in Bulgaria’s capital is just $6.99 per night.

You can also keep your traveling costs low by thinking ahead. If you’re going to be out on the town a lot, there’s really no need to book an expensive hotel. If you are thinking the more activities the better, pick out ones that are affordable. “At your destination, look for free or cheap shows, events or festivals as opposed to venues that require the purchase of a pricey ticket,” explained Zakelj.

Another way to reduce vacation expenses is to stay put for a staycation. Plan local activities, hit up your favorite restaurant. Cutting out travel and accommodation expenses will allow you to funnel your money to some fun around town.

Get creative with child care

Having your kids home from school can make summer expensive, especially if you need to pay for child care. First, try asking other parents what their plans are — they may be privy to information about affordable camps or summer clubs you didn’t know existed. You may also find someone with a flexible schedule who can share child care duties with you. You take the kids one week, they take them the next and that frees up time for both of you to get stuff done without paying for day care or babysitters.

If you have relatives or your parents live nearby, see if it’s possible for your kids to visit for a week or two during the summer. Your loved ones get the benefit of seeing your kids, and you get the benefit of a free week of child care.

The YMCA is also a great source for affordable summer camps. This organization operates more than 1,850 day camps across the country. Search the YMCA site to find a camp near you.

When you do have the kids around, there are countless low-cost activities to keep them busy. “Enjoy the outdoors on the cheap,” suggested Zakelj. “Take hikes, go fishing, ride bikes, etc.  After an initial expense, most of these activities can have very low ongoing expenses.”

Pause your subscriptions

According to a study by tech consulting firm Waterstone Management Group, the average adult American spends $237.33 per month on subscription services. Summer, with its long days and beautiful weather, presents a great time to cut back on these costs. Are you running outside more? Consider canceling or pausing your gym membership. Find yourself hanging out with friends more often than sitting at home binge-watching TV shows? Cancel your Netflix account until the fall.

Take some time and comb through your bank account statements to find the subscription charges. Then, go through each one to see if you actually use it and if it truly adds value to your life. If you the answer is “no” to any of the services, cut away.

Don’t overdo it on the air conditioning

As the days get hotter and hotter, keep in mind that one big budget buster is your power bill. The Department of Energy says that air conditioners cost American homeowners about $29 billion annually. If you keep the AC cranked day and night, that’s a lot of money down the drain.

Instead of cooling an empty house, invest in a programmable thermostat that you can keep 7 to 10 degrees hotter than the setting you keep it at when you’re home. Doing this will save you about 10% on your power bill annually. If your AC unit is outdated, it might make sense to purchase a new, high-efficiency unit. Before you take that plunge, do some research on smart ways to finance the purchase.

Beyond taking steps to reduce energy costs with your AC unit directly, you can install ceiling fans to help circulate air. Consider planting leafy plants outside of your home (especially near windows), as they’ll shade your home and help keep it cool.

Take advantage of BBQ weather

You can avoid overspending during the summer by cutting back on dining out. The average American household shells out $2,667 on food costs outside of the home. The weather is nice and the days are longer, so why not have friends over to your place instead of going to a restaurant? As Zakelj explained, even reducing smaller expenses will help you keep spending under wraps.

“If you eat out regularly, think about eating your dinner at home and just going out for ice cream afterward,” said Zakelj. “You still get the fun of a trip out but just buying dessert is much cheaper than paying for an entire meal. Or have friends over to the back patio for BBQ and beer instead of hitting restaurants with them.”

Be realistic about wedding season

One big reason for summer overspending is weddings. According to wedding marketplace The Knot, the average amount guests spend on an out-of-town wedding is a whopping $901, including travel, attire, accomodations and gifts.

If you have to attend, save some cash by searching for cheap lodging. Check sites like HotelTonight.com for deals on rooms, or consider splitting the cost of a house through Airbnb or Vrbo. If you’re traveling alone, see if there’s another single friend with whom you can split a room. If you opt for a hotel, try to stay at the one reserved by the bride and groom — it’s common for the couple to request a block of rooms for their guests, often at a rate lower than listed prices.

As for traveling to the wedding, if it’s within driving distance, see if anyone wants to carpool to save on gas costs. Look into Amtrak, as it often has deals when you travel with multiple companions. Some airlines, like Southwest and United Airlines, also offer group rates, but you’ll need at least 10 people to take advantage of them.

While we all like to look spiffy for big events, there’s no need to break the bank on your wedding attire. Need a tux? Rent one from a site like TheBlackTux.com, which lets you try one on for free. Looking for a dress? Try RentTheRunway.com, where you’ll get 20% off your first rental.

Also, keep in mind: You don’t have to attend a wedding simply because you were invited. If the cost is high, ask yourself if you’re really that close to the couple getting hitched. If you’re not, skip it and send a gift instead.

Speaking of gifts: The earlier you buy from the wedding registry, the better. There will be plenty of options available, giving you the chance to purchase something the couple wants that’s well within your budget. If there’s not something affordable on the registry, ask other guests if they want to purchase a larger item together.

Beware of summer sales

There are plenty of sales during the summer — from July 4 weekend to back-to-school — but that doesn’t mean you need to hit every one. Take an inventory of all the items you already have, like notebooks and pens from the previous school year, or kids swim apparel that will still fit next summer. Once you know what you have, you can make a list of what you actually need. Let that list be your guide to summer sales. If it’s on the list, look into the sale. If it’s not, move along. Having a concrete reminder of the things you need will help you avoid spontaneous purchases that can derail your long-term savings goals.

The bottom line

It can be easy to overspend during the summer, but there are plenty of ways to avoid it. You just have to take the time to think through purchases, do some research and plan wisely. Dedicate yourself to streamlining your spending and you’ll see autumn arrive with your budget intact.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Chris O
Chris O'Shea |

Chris O'Shea is a writer at MagnifyMoney. You can email Chris here

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