We’re back with my friend, Renee who is here to share her top ten financial tips to help us become better stewards with the funds God has entrusted to us. Let’s jump right in!
Financial Tip of the Day, number 9: Let’s focus on sports!
1) Consider overall price tag, not just the registration fees.
This is a HUGE consideration in budgeting. I know how excited we were when our firstborn was finally old enough for tee ball. I was shocked when I realized we dropped over $500 in that short season to get started. (That was not going overboard w cool stuff…just the basics.) The excitement of watching our child play for the first season was fun for all of us!
We cut back in other areas to make up the difference, and I even used my birthday money that year on tee ball too. Since that first year’s sticker shock, sports are in the budget realistically. We also are now looking at having not one but TWO children in sports, so our budget will be adjusted again this year.
Be sure to consider the equipment required, outfits, rental fees (such as extra practice time for hockey players, practice gear, even gas and lodging if it’s a travel league), recital costumes or uniforms, tournament costs, and monthly costs.
2) Pay for things you love, not things you don’t.
When you’re choosing sports for your child, make sure it’s something that they LOVE to play. You may have to choose a different sport each year (and no more than one at a time) to see which one they love, but don’t spend money just to spend money, especially if the child does not love going. Is your child in five dance classes? Can you afford it and still have extra each month? If so, great. If not, cut back to four, or three, or two, until it’s in your budget again.
3) Be willing to let go of the sport that YOU love, if THEY don’t.
Our oldest has chosen basketball for the sport we invest our time and money in. My husband was disappointed when he chose basketball over baseball, but our son didn’t love it. It costs way too much time and money for a sport he doesn’t love. We are looking forward to our middle son playing tee ball next year though! Remember, it is OK to make your kid choose what they enjoy best.
Do you need more guidance? Here is one of my favorite sports-related posts to help you keep everything in perspective: http://www.daveramsey.com/blog/7-signs-kids-sports-taken-over-life-budget.
Stay tuned for the next financial tip in our top ten series.
She is free… to harness her finances and be an amazing steward for God!