The Family Wallet

Kids’ classes and activities like dance, scouts, and karate can make a large impact on your child’s life. He’ll learn to socialize with other children, learn discipline, and may even develop a passion that he’ll carry for the rest of his life. The reasons to let your child participate in these types of classes are numerous.

Unfortunately, these classes are often as expensive as they are important. Although you want your child to have all of the benefits that come with extracurricular activities, finding room for them in your budget can be tough. You’re going to need all the tricks you can think of to make these experiences more affordable.

Take advantage of trial offers. Many kids get excited about trying a new activity only to have their excitement fizzle out within a few weeks. Ask your local dance studio or karate school if they will let you try out the class without an extensive commitment. You’ll save the expense of classes your child will grow to hate after he wishes he’d never started the class.

Buy used equipment when possible. Sport activities like football or soccer often require a lot of equipment. Your child will need protective pads, balls to practice with, and uniforms. While you certainly don’t want to buy your budding football star a used mouthpiece, you can probably find a set of gently used pads or cleats from a friend. You may even find one of those kids whose interest waned last year that didn’t even use his gear. The other parent will get some of his money back, and you’ll get the equipment your child needs at a bargain price.

Share the cost with your child. Part of growing up is teaching your child to be responsible for his own wants and needs. If your child is old enough to mow lawns or babysit, then he is old enough to help share the expense of his hobbies. Sit down with him and discuss exactly how much you’ll expect him to contribute to the cost of his activity. Then, help him develop a plan to come up with his portion. What a great opportunity for him to learn a valuable lesson!

Prepay fees for any available discount. Some schools or studios offer a discount for parents who pay for an entire year of classes upfront. If your child has proven that he is going to stay involved in an activity, you should take advantage of these types of discounts.

Let friends and family chip in. Now, I’m not suggesting that you ask them to pay for classes, but you may be able to get a little help with some of the accessories your child needs for his activity. When Grandma calls and asks what little Suzy needs for Christmas, tell her that Suzy needs new ballet shoes. Or when Uncle Bob calls about Mikey’s birthday present, you might suggest that he needs a new pair of shin guards. Your family will love having good gift ideas so readily available.

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Filed under: Personal Finance