Parents: Is Youth Sports a Professional Investment or Casual Expense?
Most parents don’t consciously make the decision to have a professional investment or casual expense mindset with the money they spend on their children to play youth sports. However, all parents do this subconsciously.
Youth sports is roughly a $17 billion industry and rising. Parents are willfully pouring more and more money into this industry for a reason.
Undoubtedly, there is a large percentage of parents vying for college scholarships and professional contracts in their child’s future. These are the professional investor parents. All other parents are the casual expense parents.
Which kind of parent are you?
If you are in the 20% of parents who spend $1,000 / month (or more) on sports, it’s best to consciously admit which type of mindset you are using with your money. Then, have this conversation with your child so you both can get on the same mindset page.
If you are an investor and your child is casual there’s going to be relationship problems between you two in the long-term. It’s best to nip this friction in the bud immediately as letting it fester will only make things worse.