Financing your child’s hobbies: how to pull it off like a boss

Cate Palmer - 26 Jan 18

Kids grow so fast and time has no mercy for parents. In a blink of an eye, they are no longer drooling babies but people with particular talents, interests, and desires. Although it is a pure joy watching them grow, one must admit that as they keep outgrowing their clothes, expenses keep mounting up. Hobbies are a must at certain age since the benefits of such after-school activities are essential for children’s development and well-being, but the costs of some activities tend to drain parents wallets. Given that it is necessary for a child to pursue its passion, here are a few tips to help you manage your finances while being a good and supportive parent.

Look for cheap or free local programs

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Many national and nonprofit organizations offer various possibilities when it comes to kid’s programming. These after-school activities are usually quite cheap, if not free. Children can take part in various activities like a computer lab, arts, dancing or club sports and spend their free time in the best possible way, shaping new skills and making new friends. Also, local libraries are usually a great starting place to involve kids in book clubs, playing chess or creating craft projects. Anything that will structure their time and awake their creativity is welcome at this age, so don’t hesitate to sign them up.

Dancing

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Dancing classes can be quite expensive, but some children are born to do it. If your child shows great interest in dancing along with the talent, then it is time to look for scholarships that some of the dancing schools may offer. Also, a sincere talk with the management in the dancing school about your financial situation can be very effective, resulting in lowering class costs. It’s worth trying. As for the costumes, shoes and rest of accessory, try sewing costumes yourself or buying second-hand.

Cheerleading

Quite common activity among girls and luckily, it doesn’t have to cost a fortune. Cheerleading clothes are fairly easy to find in thrift shops, while someone can lend you old pom poms, batons, or a megaphone. However, it is impossible to avoid some of the fees, especially if it is an All-Stars or competitive team, but not to worry since many squads have their fundraising activities. Fundraising can cover fees and some of the travel expenses, which is a great way to save money and lift the burden from parent’s shoulders.

Music lessons

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Having musically talented child can be very rewarding and yes, quite horrifying. Hours of practicing a single tune and off-key sounds coming from the room are just a small part of the trouble. Musical instruments can be very expensive, so you might want to try with some old instruments in the beginning. No need for buying Petrof grand piano immediately, instead go for some second-hand instrument and hire professionals who do the repair and tuning of the pianos. Also, remind your child that a voice is an instrument as well and encourage him/her to join a choir.

Sports

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All sports cost some amount of money, only some of them are more expensive than others. For instance, volleyball players need uniform and knee pads, while hockey players require a ton of equipment. Keep in mind that sports equipment needs a replacement every year or so since little ones will outgrow it sooner than you think. And there are fees and pay-to-play expenses that vary in different leagues.To keep your expenses as low as possible, look for used equipment and make sure to sign up your kid for a cheaper league, at least in the beginning.

More ways to save money

Consider fundraising yourself as well as involving corporate sponsors. Corporate sponsorship is quite common, so don’t be afraid to ask since most of the companies will gladly support young local team or rising music star. Whether it is a one-time donation or continuous funding, it will save you a lot of money. In the meantime, join groups on social media where you can trade, buy and sell outgrown equipment. In the end, set priorities and budget everything. Reassess your spending habits and save the money for the things that are truly necessary.

Final words

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When a child expresses an interest in something, do your best to encourage your kid but not at all costs. There are ways to keep a child happy and engaged in different activities without getting broke. After-school activities are important but make sure not to overburden your kid with responsibilities that may be too overwhelming for his/her age.  Remember that unstructured play time with friends is also vital since that is how children improve their health, develop imagination, and sharpen their social skills. The right balance between scheduled and unstructured time will make your child thrive instead of being exhausted.

Cate Palmer

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