Teddy Out-Ready: Put Child in Hockey or Save for Post-Secondary Education? #beyondtheblueline

Saturday, December 14, 2013

Put Child in Hockey or Save for Post-Secondary Education? #beyondtheblueline

I have only one kid and I know he loves all activities we put him to participate in from arts and music classes to soccer, basketball and hockey. Being a mom to an active kid requires not only physical but significant financial involvement too. All older than Teddy boys in our family play hockey and these days at AAA level, it is obvious that Teddy has big chances to join hockey adventures. Last year my boy was taking Kids on Ice classes, and then went watching how his elder cousins show their hockey skills at the games. This year Teddy joined combination sports program including soccer, basketball and hockey. I look at all those activities and I am sure I want to give the best experience to my little one, probably sometimes it comes like we follow family traditions or trying to keep up with the flow or “trend”. Anyway, do all those extracurricular activities benefit my boy’s development, definitely they are. If a kid sees his close friends play hockey he becomes curious and wants asks to join them too, it is like a follow by example.

Skating

Now I see all the passion and dedication my boy has for all the activities he participates. And I know that I will do my best to find finances to pay for his activities. We are happy to have older kids in the family playing hockey helping from the expensive gear - skates, helmets, sticks and other items to valuable tips.

Hockey Game

It was our relatives who convinced us to open RESP for our little one; I think this advice came from their own experience of balancing kid’s hockey activities costs and saving for future education. I understand why according to Canadian Scholarship Trust plan survey, 36% of Canadian parents believe paying for extracurricular activities like hockey is more important before saving for post-secondary education. When kids are young and do not even go to school like mine, the post-secondary education seems so far away and we think there is still time for that, about 12 – 15 years ahead. However, hockey is right here waiting for you - the sparkling ice, skates, training and wins. Nevertheless, about 89% (of parents, surveyed by CST) believe it is important for parents in Canada to help their child pay for their post-secondary education.

 photo Hockey_zps4778b58c.jpg

I realized how important to save for future education, Teddy said he wants to be a designer when he grows up; design new cars, planes and toys. We will be very disappointed if in 10 years we come to the point when our boy having all the talents, skills, creativity and experience will not be able to get his post-secondary education because of finances. That’s why it is important to start contributing as early as possible. It does not need to be a huge amount, even $20 a month adds up plus the Government matches 20% of the first $2,500 you contribute to your child’s RESP each year, up to a lifetime maximum of $7,200 per child.

With love to hockey and true belief in importance of savings for future education, Canadian Scholarship Trust plan is launching Beyond the Blue Line, a new community education initiative inviting teams and associations to tell what they’re doing to encourage community involvement and academic success. As a result, hockey team or organization can win $10,000 to help make hockey less-expensive. Entries must be received by December 31, 2013.

You are also invited to take part in Twitter Chat hosted by Canadian Scholarship Trust plan. Come 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 – there will be nice prizes to win 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.

24 comments :

  1. I have a couple of friends with kids in hockey. It's not necessarily the cost, because it doesn't really cost any more than other sports, but it's the absurdly early rink times. I am not getting the kids up at 4 am for something like that.

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  2. We were just having a nice discussion this week about activities our kids want to do. My oldest two want to do science clubs, and our daughter wants to start dance classes. But the costs add up, when you have THREE all wanting to do something at the same time. It's a hard choice when you have to choose between fun now and education later. At present while husband is a full time college student; we can't sacrifice what we put into the kid's education fund for them to take the fun activities now. But we are hoping in another semester when the husband graduates that will all change.

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  3. That's something my husband and I talk about a lot. Not hockey specifically, but sport and activities in general. How much do we let them do? When do we say no? I think every family has to find their own balance.

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  4. Your boys are adorable in their hockey gear!
    There is a fine balance between sports and everything else. I think whatever one's family can handle is the best decision.

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  5. When my Daughter was young, she was into many things and each sport required a uniform and who knows what all just to be in it. So expensive for those with more than one child.
    Our daughter is grown but we are helping to contribute to our Grandkids education.

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  6. Ouch. I can totally relate to the expenses. I have girls in art, ballet and gymnastics. Not only do we keep having to buy new supplies and costumes to keep up, but the classes are so costly. It looks like you son is a real hockey champ. Maybe he can get his secondary education on a hock scholarship.

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  7. All these extra curricular can add up but what parent doesn't want to see thei little one excell in something they love?

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  8. It is not just the gear that costs so much, it is getting to and from games, especially away games. I know that involvement in some things is good for the children's development but it is hard to find a balance.

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  9. I can only imagine the cost you have to put in - I am so thankfully though to my parents allowing me to do different activities as child. x

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  10. My kids have always wanted to be involved in a ton of (costly) activities. We always tried to limit it to no more than 2 activities per child at a time.

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  11. I'm not a mom yet but its really important to know how crucial it is to have savings for our kids. (future kids for me lol)

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  12. I hear you on cost, my oldest son played hockey for a while and it is quite costly. I wish I had known there was help available, I had to make him quit because I was a single parent and I just could not afford to keep doing it.

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  13. I live in Canada, so every kid wants to go into hockey.

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  14. I can totally relate. My son wants to get involved in Basketball and everything else under the sun. Sure I want to encourage him but I'm thinking I need to now put a limit on how many things he does. Saving for his college education is something that we've been doing since birth but every little penny does help and counts.

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  15. All the extracurriculars does add up, but totally worth it seeing the smile on their faces, right? Plus it helps keep them more rounded as well!

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  16. I love sports and I think they really enhance a child's school experience and or social life. That is something we always made sure that we had the time and money set aside for with our kids and they have always told us how much they appreciated it.

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  17. I have two athletes who dream of cheering/playing golf for a college. They are both very good students, top of their class. I still need to be thinking about college finances. Luckily my oldest will be out of college when the next one is starting.

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  18. I actually had this conversation last night with some other Moms... Children's activities are EXPENSIVE!!! My children are 5 and 2.. I am dreading when they start doing things. I know some kids are starting around age 4, but we just dont have the extra finances.

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  19. I agree that if you start early it can really provide a HUGE help to them when they hit those college years. Like you said, even $20 is something and anything is better than nothing. It's important!

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  20. sports can definitely be expensive. i like that there are options for saving for college too though :)

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  21. Activities are important and help form your children's character, as well as involve them in social and athletic situations. My mom always gave us the opportunity to be in whatever we wanted so we were in ballet, gymnastics and painting classes. I'm sure it was a formative part of our childhood! HOWEVER.. big however... when I went to college, I got no assistance from my family so I had to fight for scholarships and pay the rest myself, which made things very difficult. I would have preferred if they had put thought into it before..

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  22. Sometimes it is hard to save money for college but putting a little money aside each week adds right up. Sport programs can be very expensive but it is good if one can afford it.

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  23. Awww wish we had Hockey here, my kids would love to participate; we do soccer and that isn't cheap either, trust me. No matter where the kids participate in will cost you.. but it has great benefits for the kids and keeps them out of trouble... Your little one is too cute...

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  24. We spend a lot of money for our boys to participate in organized sports and I think that it is worth every penny. These activities prepare them for later in life and are totally worth the investment.

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