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The individual consumes and invests in a Black-Scholes financial market consisting of one riskless and one risky asset, whose price process follows a geometric Brownian motion. It is established  that individuals leverage more when wealth is negative if they minimize the probability of lifetime exponential Parisian ruin than in the case when  they minimize the probability of lifetime ruin. Moreover, when wealth is negative, the optimal amount invested in the risky asset increases as the hazard rate of the exponential ``excursion clock'' increases. In view of the heavy leveraging when wealth is negative, the authors also compute the minimum probability of lifetime exponential Parisian ruin under a constraint on investment. Finally, they  derive an asymptotic expansion of the minimum probability of lifetime exponential Parisian ruin for small values of the hazard rate of the excursion 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