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July 25, 2021

How much do you think you spend on kids' sports?

The cost of sending your son or daughter away for a week or more to a sports camp this summer can be daunting. But, for many, it’s all about helping talented kids realize their potential. And the sky is the limit in that case -- particularly when it comes to athletics.

According to the latest research by Investors Group, Canadian parents invest an average of $1,658 per year on their children’s athletic pursuits, although it's not unheard of to hear tales families spending four or five times that.

Forty-seven per cent spend at least $1,000 or more on lessons, equipment, camps, tournaments, and other expenses involved in supporting athletic extracurricular activities.

While roughly half say they haven't made sacrifices as a result of these financial commitments, 38% say they forgo personal expenditures on shopping and entertainment and 19 per cent have given up family vacations.

And it's not just the upfront dollars, of course: “In addition to hard dollar costs, there are a myriad of hidden costs that families need to consider,” says Investors Group sokesman Dan Collison.

“Combined, they can result in a bigger investment than expected with longer-term impact on family finances and overall quality of family life. Parents need to be cautious about losing sight of their overall financial well-being by planning ahead.”

How much are you willing to spend on sports for your kids? Has that number been climbing recently. 

By Gordon Powers, MSN Money



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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...