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The Real Cost of Raising Kids and Playing Youth Sports

August 28, 2025

Raising children is a rewarding journey and a major financial commitment. On average, families spend over $300,000 to raise a child, not including college, which can cost up to $250,000 for four years at a private university.

Youth sports add another layer to your financial planning. From registration fees and equipment to travel and coaching, the costs can quickly add up. Families with multiple athletes or children aspiring to compete in college may see expenses soar even higher.

At Patria Wealth Group, we understand how to help families navigate these challenges while maintaining long-term financial security.

How Much Are Families Spending on Youth Sports?

A survey of over 1,000 parents revealed:

• Parents spend an average of $900 per season for one sport, with 1 in 5 spending over $1,500.
• Annual youth sports expenses for families with multiple children average $3,000, with 21 percent spending more than $5,000.
• Registration fees, equipment, uniforms, and travel are the top expenses.

Michael Grinnon, Managing Partner at New York Life and former Division 1 athlete, emphasizes balance:

“Support your child’s passions but put a financial strategy in place. You don’t need the latest equipment or extra coaches to give your kids a great experience.”

The Financial Trade-Offs Parents Make

Many parents manage these costs, but some make difficult financial sacrifices:

• 25 percent tap into emergency funds or savings
• 19 percent delay long-term goals like retirement
• 12 percent even go into debt to support athletic pursuits

Jessica Ruggles, Corporate VP of Financial Wellness at New York Life, explains:

“Making meals at home is a reasonable trade-off. Skipping retirement contributions is not.”

Retirement savings are crucial, and delaying them now can have long-term consequences. Time is your greatest ally when it comes to compound interest.

Managing Expectations vs Reality

Parents are optimistic about scholarships and professional athletic careers:

• 50 percent believe their child will earn a college athletic scholarship
• 75 percent believe their child has professional potential

The reality is different. Only 2 percent of high school athletes earn scholarships, and very few go pro.

Grinnon advises:

“Support your child’s dreams, but always have a backup plan.”

Smart strategies include:

• Saving for college through a 529 plan or cash-value life insurance
• Exploring gift aid, scholarships, and grants
• Considering student loans as a last resort

The Real Value of Youth Sports

Even without scholarships, youth sports teach critical life skills: teamwork, confidence, communication, and strategic thinking. Nearly 96 percent of parents agree that sports help children develop valuable life skills, and 95 percent believe investing in youth sports benefits their child’s future.

Balancing your child’s passions with your financial goals is key. Youth sports are a valuable growth opportunity, but only when approached with a clear financial plan.

Take Control of Your Family’s Financial Future

At Patria Wealth Group, we help families plan for every stage of life—from raising children to college planning and retirement. If youth sports or other expenses are stretching your budget, we can help create a financial strategy that protects your future while supporting your child’s dreams.

📞 Call us today at 302-327-9016 or visit PatriaWealth.com to schedule a consultation. Your child’s dreams and your financial security both deserve careful planning.