Smart Advice Family Finances

5 tips to save money on extracurricular activities for kids

Discover ways to cut costs on registration fees and equipment while your child explores their interests.

Oct. 31, 2022 3-minute read

Extracurricular activities don’t just get kids off the couch. They can also expose them to new experiences, teach them valuable skills and boost their confidence while making friends. From hockey and gymnastics, to music lessons and dance, the cost of extracurriculars can quickly add up, though. Luckily, there are some creative ways to save on your children's activities. We've pulled together some of the best strategies for saving.

Be budget-conscious

After considering the cost of childcare — fees in some Canadian cities can be close to $2,000 a month for full-time care — it can feel daunting to start saving for extracurriculars. Check out your local community centres and libraries. They will likely provide activities like sports, dance and art, often at a lower cost.

Reach out to the people you know

Has your niece just become a certified swimming instructor? Reach out and see what you can offer in return for lessons at a discounted rate. You can also look at ways to split costs with other parents. This may include carpooling to practice or tournaments, sharing equipment or coordinating purchases to get a bulk discount.

Sign up early

Many clubs, camps and leagues offer discounts for early registration, so it pays to think several months — or even a year — ahead. Often, when a sports season ends, leagues will encourage players to sign up right away for the following year, by offering an early-bird price. If your child is going to be playing again, it makes sense to cash in on the savings.

Ask about discounts and bursaries

Many organizations want to be inclusive and don't want a family's income to prevent them from participating. If a club or league's website doesn't have any information on financial support, it's still worth contacting them directly to inquire. Some organizations may offer a discount if you register more than one child, or if you volunteer as a coach or organizer.

Buy and sell used equipment

For equipment-intensive sports, going second-hand can make a huge difference. For example, families can spend over $1,000 on new hockey equipment each year. That's before considering travel costs and registration fees. Kids who are new to a sport or just playing recreationally don’t necessarily need the newest, high-tech equipment. Browse local stores and online marketplaces to find the best deals.

Tip: Many clubs run events for buying and selling used equipment before the start of the season. It can be a great way to find what you need for less, and to sell any gear your child has outgrown.

Setting your kids up for success

While your child may want to try every activity under the sun, be mindful not to overschedule them. Focus on one sport or activity per kid, especially if they involve multiple practices or games per week. Having some down-time will keep their activities engaging and fun, not overwhelming.

Once you’ve settled on an activity, research your options and get to know the costs involved. Then, factor those costs into your budget, using our helpful budget calculator.

Now, you can just focus on the fun part - watching your child explore their passions, learn new skills and develop lifelong memories!

Need some financial advice?

Book a chat with one of our advisors. They can help set you up for success, today and into the future.

Meet with us

5 tips to save money on extracurricular activities for kids

Be budget-conscious

Reach out to the people you know

Sign up early

Ask about discounts and bursaries

Buy and sell used equipment

Setting your kids up for success

Need some financial advice?

Trending topics

Explore more helpful resources