It is important for kids to be involved in activities, but the fees and equipment to do so can cost an arm and a leg. Couple that with the fact that funding is being cut from many of these programs because of the struggling economy and parents can end up paying a fortune for one extracurricular activity. If you are pinching pennies right now because of the economy, but want your kids to maintain their activities use the following tips save money on their related expenses.
Buy used. Don’t always assume your kids need new sport equipment. Used stuff in good condition is often just as good. Plus, your kid will likely treat the equipment roughly anyway. Used sports equipment is discounted around 40 percent the cost of new equipment.
Sell your old equipment. When your kids grow out of there equipment or loose interest in one sport for another sell the equipment they are no longer using. The money you make selling the used equipment can be used to buy what they need now.
Price comparison shop. Don’t always assume that buying from the resource you are directed to by a coach is required. If you are allowed to buy elsewhere you can save big by shopping in catalogs or on the Internet. You may even be able to get other parents to in together for a bulk discount.
Don’t assume you are getting a deal on group travel for sports. Price shop online when your child’s team has to go overnight to an away game. Look for hotels that offer free breakfast to cut that expense from your travel budget.
Make your child responsible for some of their equipment cost. Have them do chores to earn money. Choose chores that actually save you time or money such as yard work or laundry. This will help them learn how to be responsible with their equipment.