By Jean Folger, Investopedia Many kids go from sport to sport, looking for one that fits his or her likes and abilities. You know the drill: soccer one season, baseball the next. Between registration and sport-specific equipment, all this dabbling gets expensive. The costs definitely add up once your child decides to pursue a particular sport to a higher level. You can expect to add higher coaching fees, travel costs for competitions (including gas, hotel and food), event entry fees, membership fees and more specialized equipment. While we want to encourage our children to be physically and mentally active, we don't want to go broke in the process. Here are seven ways to help you pay for your child's athletic pursuits. Individual sponsors Soliciting the financial help of your friends and relatives can be uncomfortable, yet most people you ask would be willing to donate a few dollars to go towards a specific goal. Cite specific reasons why you child needs X amount of dollars before a certain date. For example, "Josh needs $100 to attend a two—day camp that will really help develop his skills as a goalie." Depending on your child's age, he or she can be the one to approach friends and relatives. Ongoing support from any sponsor is ideal because it's money you can count on. Business or corporate sponsors
Chances are slim that you can get signed on with Nike when your kid is eight years old, but you can secure financial assistance from local businesses. Again, it is best to approach the business with a particular goal in mind, or at least a set of statistics. Provide them with the average yearly costs associated with participating in the sport, and the positive individual and community aspects of the sport. Cite possible advertising opportunities, and offer to write a thank-you editorial in your local newspaper. Think of creative ways to incentivize the business. Most businesses like to be associated with helping kids be fit and active — it's good PR. Read the full story on TODAYshow.com. For related stories from Investopedia, click below:
- The most economical sports for kids