Families Face Challenges When it Comes to Financing Student Athletics
As a parent, chances are you’re hoping for your child to engage in the benefits of structured sports programs. From physical health increasing life expectancy and lowering the rate of chronic heart disease, to teaching camaraderie and confidence, youth sports carry a myriad of short and long-term benefits.
Unfortunately, the cost of extracurricular sports is quite daunting.
For example: young Tyler, who’s been playing tackle football with his dad since he could walk, will be joining 135 young quarterbacks from 36 states in Los Angeles sports camp next weekend. There he will be met with 3rd-12th graders and sought-after coach, Steve Clarkson, for a steep $800 a day– not including airfare, hotel and other expenses.
The remainder of the academic year he is attending at least 35 practice, training, or competition day totaling about 12 hours per week according to the Aspen Institute. The same report indicates that the average family spends at least $719 a year to participate in youth athletics per child. This doesn’t include new shoes, post practice meals and snacks, or even tickets to watch their own child’s game.
One field-trip to see a world series in Indiana for Tyler’s brother, Jason, was about $3,000. With the rest of his team attending, Jason’s mom didn’t want to make him feel left out, despite the unexpected expense.
Tyler’s mom knows youth athletics are a large element in any young child’s social development, giving them them a crucial support system and sense of belonging outside of home and school. But how is she going to pick between encouraging her children to follow their dreams and keeping her family budget afloat?
The Problem with “Pay to Play”
Kids’ sports is a nearly $17 billion industry, making it about the same size as the National Football League. So then, why is the percentage of kids ages 6–12 in sports going down since 2011? Rising costs might be the culprit.
If you line up 10 children whose parents earn more than $100,000 a year, 7 of them are likely to play sports. In contrast, only 3 out of 10 will be involved in sports if their parents’ household income is below $25,000. Sports like ice hockey, swimming, and golf, require specific memberships and equipment just to play. And even free access sports, like basketball or track, tend to lack organized activities in lower income areas.
According to a National Survey, kids ages 6–18 from low-income households quit sports six times more often than kids from high-income families. While children from higher-income homes quit from lack of interest or athletic burnout, financial constraints were the number one reason for kids from lower-income families.
According to an article by the Atlantic, “the root of the challenge stems from the increasing number of expensive travel leagues. These are made up of talented young athletes from higher-income families, leaving local leagues with fewer players, fewer involved parents, and fewer resources”.
Present Solutions — And their Drawbacks
Current cost saving solutions for children’s sports include:
- Taking Off-Seasons
- Finding Second-Hand Equipment & Apparel
- Fundraising Scholarships in Local Organizations
- Children Working Part-Time to Support Activity Costs
Unfortunately these come with a plethora of drawbacks, like:
1. Interrupting Athletic Development
2. Negating Quality of Training
3. Time Consuming and Ineffective Fundraising
4. Limitations Around Age and Time
Cash as a Solution
For lower-income families, cash usage is a huge part of everyday life. Nearly 1 in 3 American families today don’t have access to a checking account or credit card, making cash a preferred form of payment for these parents.
For these families, one-off cash payments are much more doable than large upfront fees or online billing hooked up to a credit card. Local businesses and schools administrators can also offer cash payment schedules to help families keep their kids on local teams.
Often exposure to extra coaching can be what helps kids on the margin get on the team to enjoy the perks of the youth athletic experience. With direct cash payment methods, this is made more possible for many families.
Simply put, cash can help put opportunities within children’s reach.
How does Pay Theory help?
Pay Theory is an Inclusive FamilyTech company built to make payments more accessible for underbanked families.
Unlike traditional payment processors, Pay Theory offers a cash-payment option that allows families to use a barcode that can be scanned at one of 40,000 stores across the US, including CVS, Rite Aid, and Walgreens.
Inclusivity is foundational to great sports and activities — from basketball to ballet. Only PayTheory’s inclusive payments platform allows for truly inclusive payments.
To learn more about cash payments you can visit paytheory.com.
Sources Referenced
https://www.nytimes.com/2015/01/17/your-money/rising-costs-of-youth-sports.html
https://www.nytimes.com/2015/01/17/your-money/rising-costs-of-youth-sports.html
https://www.today.com/parents/want-watch-your-child-play-school-sports-it-ll-cost-t103852
https://paytheory.medium.com/the-problem-of-cash-in-pharmacies-bcf8dc7e7525
