How to Plan a Budget for High School Sports

Participating in sports during the high school years can be rewarding, challenging, enjoyable, and life-changing. Paying for everything is just plain stressful! Budget for high school sports and you can spend more time being a fan, and less time balancing the checkbook. Read on to learn more.

Instructions

    • 1

      Determine how much of your overall budget will be handed over to high school sports in a year's time. Figure the percentage and the hard numbers. This will be difficult, because you won't know ahead of time about the unexpected expenses, but you can estimate. Items to keep in mind: uniforms, program fees, equipment, team clothing, shoes, travel, food, pep rallies, spaghetti dinners, scrapbooking and medical fees for a physical and a check-up.

    • 2

      Set aside money for the anticipated participation in high school sports. If you have a very athletic middle schooler, start saving now! Chances are, they will only improve with time. If the high schooler in your life is already participating, it's not too late to set aside money.

    • 3

      Budget in lump sums. Again, there's no way to accurately calculate the exact expenses of high school sports, so the best way to not get burned is to lump sum save. You know Mindy will play basketball and softball in her freshman year. Great! Put aside $500 to cover expenses. This way, you don't have to panic when she comes to you once a week for basketball money.

    • 4

      Go in with the group. Think you'll save money by purchasing those baseball cleats on your own? Think again. Wholesalers sell to teams and throw in big discounts. You won't find a better deal, so stop looking. Besides, you don't want your high schooler feeling left out because his shoes are slightly different than everyone else's.

    • 5

      Pay for the essentials, but not the desires. If your high schooler needs a new uniform and wants the designer suit and goggles that her friend Susie got, put your foot down. Agree to pay for the new uniform, but work out a deal with Susie over the suit and goggles. You'll pay 60% if she agrees to hand over 40%. Sometimes this is difficult because high schoolers devote so much time to sports, they don't have time for a job. If this is the case, have them help out with chores or special projects around the house.

    • 6

      Ask about scholarships. Many high schools offer grants or scholarships for high school sports. If they don't, maybe you should be the one to start that program. Every high school has wealthy, philanthropic alumni. Get them to chip in and your budget may look a lot better.