Episode Summary:
In this episode, we talk about the cost of kids’ sports. We dig into the benefits of kids playing sports, why the costs can be so high, and ideas for prioritizing and rationalizing these costs.
Episode Notes:
Kids’ sports have become notoriously expensive, competitive, and time-consuming. What is driving this? We first hear from our listeners. And we got so many more responses than we’ll read here.
Let’s first talk about what makes sports great:
- Health and Fitness
- Teamwork
- Practicing and growing a skill
- Potentially finding and developing expertise
- Learning to win and lose gracefully
But not everyone is having this wholesome experience. Many families can’t afford to participate, and those who can sometimes find themselves in such a competitive environment that it becomes stressful.
What to remember about the cost of kids’ sports:
- This is an industry that leverages your desire to support your child.
- It can create a narrative that to be successful your child must participate in a certain way. And that way has high costs.
- Equipment can be expensive; like everything, the quality only matters to a certain degree.
- Traveling can exponentially increase your participation costs and take up a tremendous amount of time.
What can you do about it?
- Remember that this isn’t just money; it’s time for you and your child. So there is an opportunity cost. Make sure you have enough time to fulfill other needs in your life.
- Let your kid try things out. Push them to explore, but don’t push them too hard if they don’t enjoy it.
- If possible, lean towards less expensive and accessible sports with many kids. High demand usually creates more competition, which lowers costs.
- Consider forgetting the idea that your kid is getting a college scholarship. They are limited even at the highest level.
- Remember that you’re the parent, and ultimately you decide. So help your kids make informed decisions. Create trade-offs for them with time and money.
Top 3 takeaways:
- Sports are an amazing way for kids to stay healthy and develop important life skills.
- Pay-for-play sports are an industry like any other, so scrutinize what you’re being sold.
- Whether or not your kid is good at sports doesn’t make you a better or worse parent.