It’s already winter season which means we’re spending more and more time at the ice rinks. My son plays for two hockey teams so he can be on the ice as many as five times a week.
I think it’s great that he loves hockey so much. But when I stopped to think about how much money we’re putting into this very expensive hobby, it adds up! I can’t even imagine parents who have children playing Triple A hockey and the expenses attached. Hockey is expensive!
Three out of five Canadian parents (61 per cent) say they, or someone they know, have borrowed money or used their retirement savings to put a child through hockey or other extracurricular activities. In fact, 36% believe paying for extracurricular activities like hockey is more important before saving for post-secondary education!
I am surprised by this number. Although extracurricular activities are important and vital to a child’s development, education should always be top priority. And with the rising costs of post-secondary education, it’s important to be putting money away now for the future.
A recent survey conducted by Canadian Scholarship Trust Plan showed that 89% of parents believe it is important for parents in Canada to help their child pay for their post-secondary education. I am thankful that my father helped pay for half of my university tuition.
That was our deal – I worked part-time and spent evenings saving money for university and paid for half of my tuition and he would cover the other half. The last think you want as a new graduate is to have a hefty student loan.
I always tell my kids, do what you love whatever hobby it is, but you’re both going to university! My husband and I started an RESP for them soon after they were born and contribute when we can but I know we should be contributing more. If we’re already paying for hockey, we should be able to put more away for education.
CST’s Beyond the Blue Line contest is amazing – you could win $10,000 for your hockey team to help make hockey less expensive! Check out the website, to share and learn more at http://beyondtheblueline.ca.
Also make sure to join @CSTConsultants, @beyondtheblueline and @THNKenCampbell on December 17th at 9pm EST where they will be discussing the cost of hockey vs. education and RESPs. Follow hashtag #hockeyvseducation – they’ll also be giving away 5 – $50 VISA gift cards!
Disclosure: I am part of the C.S.T. Consultants Inc. – Beyond the blue line blogger program with Mom Central Canada and I receive special perks as part of my affiliation with this group. The opinions on this blog are my own.
