FUNDING YOUR KID’S EXTRA-CURRICULAR ACTIVITIES
Raising kids may be an expensive investment. There are the usual expenses such as food, clothing, and shelter, which you must pay for throughout their life. This is made worse by the hefty costs of diapers, formula, and even day care when they’re little. As kids get older, you begin to consider how much money you’ll save once they’re potty trained or in school and no longer require full-day day care.
Then they bring home a brochure for after-school soccer, or they read that their classmates participate in gymnastics or dance, and your wallet begins to appear slimmer once more. Although families spend an average of $396 per year on related costs (such as fees, tournaments, uniforms, and equipment), 21% of parents whose children participate in athletic programs admit to spending $1,000 or more each year.
According to a new report from a recent survey, eight out of ten parents with children who participate in extracurricular activities believe those pursuits will someday lead to income for their child, and the more adults spend on their children’s activities, the more likely they are to believe it will pay off. The survey also asked more than 700 parents about their children’s extracurricular activities, which included everything from sports and music to beauty pageants and debate teams, and discovered that nearly two-thirds of those parents had to apply for a loan to support their children’s passions.
The majority of parents chose to borrow cash or take out a short-term loan to help their children pursue their dreams and passions. Short-term loans are unsecured personal loans. Payday loans, bad credit loans, and installment loansare only a few examples of short-term loans. The benefits of acquiring a short-term loan will be discussed in this article.
Parents should always encourage and develop their children’s dreams and passions. There are numerous reasons why parents want their children to participate in extracurricular activities, so find strategies to finance and fit it into your budget. Your children will value the opportunity to grow, study, and make new friends. Who knows? Perhaps they will one day be the next Simone Biles or Michael Phelps.
The good news is that Loan Today USA is ready to assist you with your child’s extracurricular activities expenses! Apply for a loan right now on our website – Loan Today USA, simple application and quick approval!