What is youth sports really costing you?

Summary

In this episode, Patrick Sirmeyer and John Kennedy discuss the financial commitment of youth sports and the importance of balancing the costs with future financial goals. They emphasize the need to be mindful of the expenses associated with youth sports, such as league fees, tournament fees, equipment, and travel costs. They encourage parents to consider the long-term financial implications and not to mortgage their child's future education or their own financial security for the sake of youth sports. They also discuss the importance of listening to children's desires and not pushing them into sports they may not be passionate about.

 

Keywords

youth sports, financial commitment, future goals, expenses, long-term implications, children's desires

 

Takeaways

• Be mindful of the expenses associated with youth sports and consider the long-term financial implications.
• Don't mortgage your child's future education or your own financial security for the sake of youth sports.
• Listen to your child's desires and don't push them into sports they may not be passionate about.
• Balance the costs of youth sports with future financial goals and prioritize saving for education or retirement.
• Encourage children to explore different sports and find their passion before investing heavily in one sport.

Titles

• Listening to Your Child's Desires in Youth Sports
• Balancing the Financial Commitment of Youth Sports

Sound Bites

• "Let's not mortgage your child's future education on their present day costs in youth sports."
• "Wait until your child shows a genuine desire and commitment before investing heavily in youth sports."
• "More tournaments is not the answer, but more play time is."

Chapters

00:00Introduction and Banter

05:41The Financial Commitment of Youth Sports

12:14Assessing Your Child's Desire and Maturity

25:08Investing in the Future and Balancing Costs

30:49Indirect Costs and Trade-Offs

35:23Conclusion