Parents spend $3,000 annually on their children’s sports, the majority of them taking action elsewhere to manage rising costs, according to New York Life’s Insurance’s latest Wealth Watch survey.
The results of the poll of U.S. adults with children aged 7 to 18 who participate on youth sports, conducted March 1 to 6, also indicates parents are pouring in money believing they are investing in an ultimate payoff.
“Our research suggests that parents are deeply committed to supporting their children’s athletic potential—not just for the joy of sport, but as a pathway to higher education and future success,” Jessica Ruggles, corporate vice president of financial wellness at New York Life, said in a release shared with USA TODAY Sports prior to Tuesday’s publication of its results.
Read more at USA Today.
