Budgeting for Your Childs Sports Using a Las Vegas Savings Account
If your child is involved in sports, the benefits can be great, but the costs add up quickly. Fortunately, there are ways – including setting up a Las Vegas savings account – that can let your kids play the sports they enjoy without breaking the family budget.
Follow these tips to help you budget for your child’s extracurricular activities:
1. Buy Used Equipment
Check with a sporting goods store that sells used equipment or with other parents whose kids play the same sports to find used equipment. Make sure it’s in good condition and depending on the type of equipment, that it fits well. Before you buy, ask the sports team coach or manager to share the equipment requirements with you. The demands can vary from one league to the next.
2. Don’t Overbuy
If your child is getting started in a sport, they don’t necessarily need more expensive equipment. Buy good, serviceable equipment and see if they want to keep pursuing the sport before you invest in more expensive items.
3. Choose One Sport at a Time
Kids may want to try several different sports at once, especially when they are younger. Not only will this make you spend hour after hour driving to and from practices and games, it will also increase your costs. Let your child choose one sport at a time to keep them from being over-committed and cut down on cost and travel time. You may consider setting a sports budget for the year, or limiting the number of sports or seasons.
4. Try Local Leagues
Local leagues have their games within a fairly narrow area, but “elite” or travel teams can travel far and wide. Unless your child has already invested years in a sport and shows great promise at going on to the next level, local leagues will probably suit their needs just as well – and be much less expensive.
5. Pitch In
If your child is playing a league sport, you may be able to get a discount on your fees if you can serve as a coach, assistant, or referee. Not only will you save money, but you’ll also get some great bonding time with your child.
6. Sign Up Early
Many leagues offer an early-bird discount if you sign up by a certain date. Make sure you’re prepared to pay your child’s fees by the early-bird deadline. This can give you the opportunity to save big money.
7. Plan for Expenses with a Las Vegas Savings Account
Ask for a list of fees and expenses up front, and also talk to other parents for realistic opinions on how much it might cost for your child to play a particular sport. There are also added costs like team photos, game snacks and the end-of-season team party. Once you have an idea of what you’re looking at, plan to put money away in a Las Vegas saving account - perhaps having an amount diverted from each paycheck into the account - to make sure you don’t come up short.
To find out more about budgeting for your child’s sports and setting up a Las Vegas savings account, call Clark County Credit Union at 702-228-2228. We’ll be happy to answer any questions you may have and help you with your banking needs.