Having kids is expensive — especially when they’re involved in extracurricular activities. It can be hard to strike a balance between supporting your children’s passions and staying on budget.
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More than half — 52% — of parents spend more than $1,000 per year on activities for their children, according to a GOBankingRates survey. If you think that’s a lot, 12% spend more than $3,000 annually.
Given this, you might think you need deep pockets to pay for your children’s hobbies, but that isn’t necessarily the case. Here are four tips to help get your kid in extracurriculars without breaking the bank.
Set Limits
Save money by putting a cap on the number of activities your child can participate in at once. For example, you might allow them to join two activities per season.
Let it be up to your child if they continuously stick with the same activities or try new ones out. This compromise can benefit you in more ways than one, as you’ll cut costs and avoid having an overpacked schedule.
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Seek Cheaper Alternatives
All kids’ activities — even those in the same category– don’t have equal costs. Searching for extracurriculars at places like community centers, city parks, churches, libraries and the YMCA can save you money.
For example, the YMCA offers programs like dance, karate and swimming, with prices that can be significantly lower than private studios. While this is a broad estimate, you might pay $150-$250 per month for martial arts classes at a studio, but could pay less than $100 for a months-long session as a YMCA member.
Buy or Seek Secondhand Gear
Prices can add up quickly if your child participates in an activity that requires specialized equipment. Not only do you have to pay registration fees, but you also need to purchase a variety of required gear.
The good news is, you might not have to buy — at least some — of these items new. For example, you could check to see if your local area has a cleat bank, organize an equipment exchange with other local parents or shop at a secondhand store like Play It Again Sports.
Volunteer Time
If you’re willing to donate time to your kid’s extracurricular activities, you might be repaid in the form of free or reduced registration fees. This can be an all-around win, as you’ll get to pass your skills on to the next generation while spending extra time with your child.
Relive your youth — especially fun if you don’t normally get to participate in this activity anymore — while cutting costs on your child’s expenses. This shared hobby could end up being a great bonding experience for the two of you.
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This article originally appeared on GOBankingRates.com: 4 Ways To Put Your Kid in Extracurriculars Without Going Broke
