As the new school year approaches, parents and students alike are gearing up for a new year of extracurricular activities and sports. These days, there’s no denying that participation in clubs, athletic teams, and arts programs is a valuable investment—especially for students heading to college after graduation. Unfortunately, the costs for those programs add up fast. In the Salem-Keizer district, for example, the 2024-2025 athletic fees are $125 for the first sport and $75 for the second (no additional charges for additional sports)—and that’s just the initiation fee. In fact, in 2023, Lending Tree reported that the average family spends $731 annually for after-school activities. So, if you’re already sweating over the cost of gear, uniforms, travel, and other expenses, we’ve got your back.
Why Are Extracurriculars So Important?
Studies have shown that extracurricular activities and sports play a crucial role in a child’s development. Not only do they provide the opportunity to learn new skills; they also build self-confidence and foster teamwork. Participation in these activities can also enhance academic performance, encourage healthy lifestyles, and provide a sense of belonging and community. Additionally, extracurriculars can help students discover passions that may influence their future career choices.
So how does one fund such important—but expensive—activities? We’re glad you asked. Here are some easy-to-follow tips to help you plan and manage extracurricular expenses.
1. Assess Your Finances
Before committing to activities, take a close look at your overall financial situation. Identify your income, essential expenses, and savings goals. This will give you a clear picture of how much you can comfortably allocate to extracurricular activities and sports.
2. List Potential Activities
Make a list of all the extracurriculars your child is interested in. Estimate and include any associated costs—such as registration fees, uniforms, equipment, travel expenses, and other hidden costs. This list will help you prioritize and make informed decisions.
3. Prioritize and Choose Wisely
Not all activities carry the same cost or level of commitment. Discuss with your child which activities are most important to them. Prioritize these and consider choosing one or two activities to focus on. This can help manage costs and ensure your child isn’t overwhelmed.
4. Create a Budget
Once you have a clear idea of the activities and their costs, create a detailed budget. Include all anticipated expenses and set aside a specific amount each month to cover these costs. This approach will help you avoid any financial surprises and make it easier to track your spending. To streamline things, open a dedicated savings account to pool funds for upcoming activities.
5. Look for Discounts and Scholarships
Many organizations offer discounts, scholarships, or financial aid for extracurricular activities and sports. So, don’t hesitate to ask about these opportunities. In Salem-Keizer, for example, students with financial barriers can pay a reduced fee ($50) for their first and second sports by filling out an athletic fee discount application. Many other regional high schools (like Silverton High School) charge $100 per sport with a $250 to $500 per student/family cap, but also promise that “no student will be denied participation”. Contact the athletic department of your school for details on what’s available. Also, keep in mind that early registration often comes with reduced fees. Take note of when each sport starts and register early to take advantage of potential savings.
6. Consider Second-Hand Equipment
For sports and activities that require special equipment, consider buying second-hand items. Many online marketplaces and local stores (like Play It Again Sports) offer gently used equipment at a fraction of the cost of new items. This can significantly reduce your expenses while still providing your child with the necessary gear.
7. Get Creative with Fundraising
Encourage your child to participate in fundraising efforts to help cover some of the costs. This can include bake sales, car washes, or other creative ventures. Not only does this ease the financial burden, but it also teaches your child valuable skills in entrepreneurship and responsibility.
8. Plan for Hidden Costs
Extracurricular activities often come with hidden costs, such as travel, snacks, and special event fees. Factor a cushion into your budget for unexpected expenses to avoid any last-minute surprises. Setting aside a small contingency fund can help cover these hidden costs.
9. Review and Adjust Regularly
Remember that budgets are not set in stone. Regularly review your budget and upcoming expenses to ensure you are staying on track. If you find that certain activities are costing more than anticipated, be prepared to make adjustments. Flexibility is key to maintaining financial stability while supporting your child’s interests.
10. Encourage Free and Low-Cost Activities
Not all valuable extracurricular activities come with a high price tag. Encourage your child to explore free or low-cost options, such as community sports leagues, school clubs, or volunteer opportunities. These can provide enriching experiences without straining your budget.
By following these tips, you can create a manageable budget for extracurricular activities and sports, to ensure your child has a fulfilling and enjoyable school year. Remember, the goal is to support their interests and growth while maintaining financial health for your family.
Want more money-saving back-to-school tips?
- Check out our article on Money-Saving Back-to-School Shopping Tips.
- Learn how to stay safe from back-to-school shopping scams.
- Get some Back-to-School Meal Planning Tips for Busy Families.
- Learn what Maps is doing to help fund educational initiatives (and how you can help)!