A recent survey shows that many Canadian parents are going into debt, or borrowing money from others, to register their children in recreational hockey. In a way, I get it. Hockey is a national past time and it almost feels like it’s our duty as Canadians to involve our families in hockey.
But is it worth it if it means going into debt?
The costs of placing a child into competitive hockey depends on the league, but can cost up to $10,000. For many families, that’s the equivalent of three years of car payments. Before enrolling your children in hockey, review your budget and make sure it’s a cost that can be justified.
If after reviewing your budget, you realize you can’t make it work, consider involving your children in a sport that doesn’t require as much of you financially. Soccer is an up and coming sport in Canada and the costs are minimal compared to hockey. If you are dead set on enrolling your children in hockey, at least consider these money saving ideas before you go all in.
Buy New
Your child doesn’t need the most expensive skates, helmets, sticks, etc. Talk to the salesmen and figure out the best deal based on the level your child is at. Also, make sure you research sales before heading to the store. Never pay full price for hockey essentials.
Buy Used
There are some sporting goods stores that offer gently used equipment for a reasonable cost, allowing families to keep the price of the game down. When your child has grown out of the equipment, consign it again and get a discount on the next size up.
Contact Jumpstart Charities
Jumpstart aids families that need a financial hand with registration, equipment and/or transportation costs. If you’re in financial need, apply for funding through Jumpstart today.
I love seeing children playing hockey, but not at the expense of other household finances. If you have gotten yourself into debt and need help, contact us today. We can help.
