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The vast majority of children play at least one sport while growing up. As of 2020, 76.1% of children ages 6 to 12 and 73.4% of children ages 13 to 17 played a team or individual sport, according to Project Play from the Aspen Institute.

But youth sports are typically not free. In fact, 59% of families experience financial strain from their children’s sports, according to a recent survey by financial services firm LendingTree.

LendingTree conducted an online survey that reached 1,578 US citizens aged 18 to 76. The survey used a non-profitability sample, with quotas ensuring that responses were representative of the overall population.

While 48% of families with children participating in sports say they will find a way to make it work, 11% plan to take on debt.

As for costs, 50% of parents plan to spend anywhere from $100 to $499 on fall sports expenses, including equipment, travel and apparel. Almost 20% of parents expect to spend over $1,000.

How to budget for youth sports

For any parent expecting to take on debt to afford youth sports, Matt Schulz, LendingTree chief credit analyst, has advice on how to maximize your budget.

1. Utilize credit card rewards 

Credit cards can offer a number of valuable benefits, such as cash back, which can be used to offset costs, Schulz says in the report.

However, using credit will only help if you are able to pay off your balance in full each month. To see also : 10 Best Sports Video Games (Updated 2022).

2. Get creative

As for clothing and equipment, hand-me-downs from older children can be a way to save. This may interest you : State champions! Michigan: High School Sports Show – 10-7-22. Parents can also look for used items online or at a consignment store.

Offering to volunteer with the organization in exchange for a lower price is another avenue worth exploring, says Schulz. Plus, “as a dad who has done a lot of volunteer work in youth sports over the years, I can tell you it’s a great way to make memories,” he adds.

3. Prioritize as a family

“Youth sports can be crazy expensive, and that sometimes means making sacrifices,” says Schulz. “Sometimes they’re small, like canceling a streaming service for a while. To see also : Big 12 look to Brett Yormark, executive of Jay-Z’s Roc Nation, as the next Commissioner. Sometimes they’re bigger, like starting a sideshow or selling something of value.”

If this is the case for your family, be honest with your children about it. Communicate to them that sacrifices may be necessary and help them understand the importance of prioritizing your spending, says Schulz.

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