LOUISVILLE, Ky. (WHAS11) -- The summer Olympics and the fall sports season are going to inspire a lot of budding athletes. But kids' sports can cost parents lots of cash. Good Morning Kentuckiana’s Andy Treinen has some tips to save some money, in today's Consumer Watch.
The 2012 Games have a lot of youngsters starry-eyed with dreams of Olympic glory, but an Olympic-sized commitment to a sport can take a financial toll on a family, as lessons, travel and equipment add up.
If your budding Olympian wants to dive into a sport head first, Kiplinger's Personal Finance advises taking things slow at the start.
“It's really good to give your kids, I think, a broad experience, but you don't want to overdo it. You don't want to overdo it on yourself, and you don't want to overdo it on the kids,” says Kiplinger’s Janet Bodnar.
Sports equipment can be a waste of cash if a child loses interest, so don't buy new right away.
”Get something used. Get something used first, at least for the first one, maybe even through the first couple of seasons, until the kids, again, really make a commitment to this,” advises Bodnar.
And when you do buy, purchase new equipment at the end of a sport's season when items are likely to be on sale.
With gas prices still high, shuttling kids to and from practices and travel team matches can add up. A carpool is a cost-saving, and time-saving, move. And for multiple kids, ask if the local youth league, pool, or gym has a discount for families.
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