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Cost of youth sports
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Youth sports can be excellent character-building activities for children. They instill teamwork, communication and discipline – which can pay off later in life. Along with physical benefits, children who engage in sports can also reduce stress, increase cognitive skills and create better emotional well-being, according to the U.S. Department of Health.
Key statistics for youth sports expenses:
How to fund youth sports
How to reduce costs and establish a budget
That said, participating in these activities often comes at a high price. Sports can cost anywhere from $191 per year (for track and field) to $2,583 per year (for ice hockey). And with inflation at a 40-year high, costs are rising. Wintergreen Research predicts that the youth sports industry will grow to a $77.6 billion industry by 2026, from $24.9 billion in 2019.
Our guide to saving for youth sports will help you learn about the costs involved and plan for those expenses before they become unsustainable for your finances. To see also : Fordham University Hosts Sports Career Camp for High School Students.
Bottom line
The cost of youth sports varies depending on the sport. Expenses may include registration fees, equipment, camps, private lessons and travel. Travel in particular can be the most expensive cost when you factor in fuel or airfare, hotel, meals and other items. Travel costs average around $196 per sports, according to Project Play, a 2019 Aspen Institute research initiative to track youth sports participation and costs. This amount can vary greatly per sport, with the average travel cost for field hockey being $934, for example.
Project Play estimates that sports families spend an average of $693 per sports and per child each year. Their study also provides averages for different types of sports. To see also : Portland’s real estate market is grabbing wealth from wealthy families in other states. Swimming, for example, costs an average of $786 annually, while skiing costs $2,249 annually. According to this data, a child enrolled in skiing and swimming will accrue $3,035 in costs in a year
The graph below shows the annual costs of the five most expensive sports.
