8 Ways to Keep Your Kid’s Activities From Breaking the Bank

Now that your child is back at school, you probably feel like it’s time to take a breather. After all, you just finished shopping for all the back-to-school items on your kid’s classroom list, not to mention buying the perfect school clothes and sneakers to match.

Just when you thought your wallet was ready to take a break, your child brought home a list of all the extracurricular activities available for them to do. Sure, we all know these programs are great for kids. After all, the activities allow children to discover new interests, make friends, and even improve their physical and mental health.

But, let’s be real, those activities can really add up. From sports teams to music lessons and all the activities in between, there are supplies to buy and fees to pay. Whether you have one child or multiple kids, extracurricular programs are expensive. So how can you keep your kid’s activities from breaking the bank?

Luckily, you don’t have to choose between your wallet and your child’s happiness! Here are a few ways you can stick to a budget and ensure that your kid has a blast participating in activities this year:

1. Have the “Passion Chat”

First things first: Sit down with your child and ask them about their interests, talents, and goals. What gets them excited? Why do they want to participate in certain programs? Determine which activities align with their passions and long-term objectives, and focus your resources on those. Setting boundaries on the number of activities your child can be involved in will help you avoid overextending financially and from overscheduling.

2. Create a Budget

Once you’ve figured out what makes your little one’s heart sing, it’s time to set some money boundaries. Include all known costs, such as registration fees, equipment, uniforms, transportation, and any other fees. This budget will give you a clear picture of how much you really need to pay to support your child’s interests without overspending.

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3. Explore Low-Cost Options

Now, it’s time to scout for budget-friendly options. Check out local community centers, school clubs, and nonprofits. These often offer affordable or even free programs. You’ll be surprised by the hidden gems in your neighborhood that can feed your child’s passions without breaking the bank.

4. Apply for Scholarships and Aid

Don’t be afraid to explore financial assistance options. Many organizations are eager to support talented kids. Reach out to schools, clubs, and associations to see if they offer any scholarships or aid. Plus, schools and clubs often have fundraisers that can help offset costs.

5. Buy Used Equipment and Gear

Equipment and gear costs can add up fast. Instead of splurging on new stuff, get thrifty! Look for used items, ask friends if they have any hand-me-downs, or explore second-hand stores and online marketplaces. Your wallet will thank you, and you’ll be recycling, too.

6. Carpool and Share Transportation Costs

If activities involve getting your child from point A to point B, consider carpooling with other parents. Sharing the costs of gas and vehicle maintenance can significantly reduce your expenses. It’s also a great way for your child to get to know other participants and their parents.

7. Plan for Hidden Costs

Some activities may come with hidden costs, especially when it comes to food and overnight trips. Plan ahead and include these items in your budget. You can also pack some goodies from home and save big at concessions stands and restaurants during events.

8. Teach Money Smarts

Get your child in on the budget action! Involve them in planning and show them how to compare prices. Encourage them to pitch in if they can, like contributing part of their allowance. This instills important life and financial skills in your child, as well as helps them understand the value of their activities.

If you need more inspiration on how to teach your kids about money, check out our Budgeting Buddies curriculum. We teamed up with the St. Louis Cardinals to create this free financial literacy program for kids in kindergarten through high school.

With these tips, you can make sure your kid’s passions are pursued without breaking the bank. If you want to learn more financial tips and tricks, check out our YouTube channel. Our financial education videos will show you more ways to save!