More ways to slash hockey expenses
Parents are spending $849 on minor hockey
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Despite a drop in average spending, more than one-third (35%) of hockey parents say organized minor hockey remains unaffordable, according to a new poll for Scotiabank.
Parents expect to spend on average $849 for their kids’ hockey season, down from $1,026 in 2010, the report found. Parents of younger kids ages 3-8 expect to spend less ($696) while those with players ages 9-17 will likely spend more ($915+).
In order to cope with the costs including league fees, equipment, transportation and out-of-town tournaments, four-in-10 hockey parents say they cut back spending in other areas. A full three-quarters say they do at least some budgetary planning in advance.
The bank also found parents are cutting costs by purchasing or sourcing used hockey equipment (56%) and by carpooling with other parents to and from games and practices (42%).
“As this hockey season winds down, it’s the perfect time to start saving for next year,” Scotiabank’s Ahmad Dajani said in a press released Tuesday. “By using tools like the Scotiabank Hockey Season Calculator and visiting a financial adviser to help you plan ahead for hockey expenses, you can build up money throughout the year and be able to focus on helping your kids build memories.”
Do you have any hockey cost-saving tips for parents? Please share them in the comments section below.
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