Considering that most of the drone losses I've seen are from flyaways (where the drone isn't found) or from water landings, I don't see a parachute as being very useful. Drones just don't "fall from the sky" that often. Further, depending on wind drift, using a parachute might well hinder efforts to recover your bird if the actual landing area is different (due to the parachute) than when the drone went off line, and you are trying to base a search on those coordinates.
I'd say that your money and time are better spent buying batteries and flying more to build expertise and confidence!