Youth sports costs going up? We've got 5 tips to help.
Key takeaways:
- Youth sports costs have risen, with nearly 6 in 10 families feeling the financial pressure.
- Affordable alternatives like community leagues, school teams, and used equipment help save on expenses.
- A savings plan and a realistic budget can help families prepare for sports expenses.
Watching winter games can open kids’ eyes to a whole world of new sports they’ve never tried before – and that’s great! Youth sports build confidence, teamwork, and friendships that can last beyond the playoffs. But rising costs have left nearly 6 in 10 families opens in a new window feeling the financial squeeze. Before you bench your budget or your child’s dreams, try these five strategies to help you stay in the game.
1. Calculate your true sports costs.
Add up everything your child will need. Think about equipment, uniforms, tournament fees, and coaching. Travel costs matter, too. For many travel-team families opens in a new window, gas and hotels cost more than gear and registration combined. Write down what you spent last season. If your child is trying a new sport, research the costs before you commit. Knowing the real numbers helps you plan ahead and avoid surprises.
2. Set your family's spending limit.
Next, decide what your family can afford. Pick a dollar amount that works for your budget before the season starts. Be honest about trade-offs. Some families cut back in other areas to keep kids on the field, but that can be hard to keep up over time.
After setting a spending limit, either stick to the budget, or if that is difficult, you may want to open a dedicated savings account and set up automatic monthly deposits. If you start saving in January, those August sports expenses are less likely to catch you off guard.
3. Explore lower-cost alternatives.
Travel teams and elite clubs aren’t the only way to compete. If costs are a concern or if you just want to try a new sport with low cost of entry, you may want to consider school-based teams or nonprofit youth organizations like the YMCA opens in a new window or Boys & Girls Clubs of America opens in a new window which usually require less time and money. Starting younger players in local programs lets them build the basics before they move to more expensive competitive leagues. A child participating in YMCA soccer in the fall and school basketball in the winter typically pays less in total than one playing year-round travel baseball.
If your child has their heart set on a travel team, choosing the right sport can help manage costs. Soccer and basketball require minimal gear compared to hockey or football.
4. Search for deals on fees and gear.
Buying used gear from thrift stores or online sellers can also help save money. Families with fast-growing kids or those trying a new sport could save even more with community swaps.
5. Start family budget conversations.
Money conversations aren’t always comfortable, but they’re necessary. Talk with your partner about spending limits before each season begins so you’re on the same page. Have age-appropriate discussions with your kids about family budgets and why it might be necessary to prioritize certain expenses over others. Kids can sense money stress even when parents try to hide it. Letting them in on the conversation can help them feel supported rather than anxious.
Keep your young athlete in the action while managing your finances well. Speak with a Commerce Banker who can help you create a realistic budget for extracurriculars and build a savings plan that fits your family.
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