The $14,000 Black Belt

When I was a kid, my mother would say “Go outside and throw a ball around”.?Now days, kids have so many activities.?When did kids get so busy??As an example, my son is in Karate, Greek School, Chess Club, Drama Club and if he had his way, he would be in Cub Scouts and Basketball.??Of course, someone has to take them to all these activities.?Time issues aside all of these activities cost money.?My parents spent less than $20 on that ball and glove; and the tree I used to throw the ball at, was Free.

When we first started Karate, I thought my son would phase out of it.??But after 2 ? years, I realized that my son was fully hooked on the activity and we were in it for the long haul.??So it got me to thinking about the cost.?See unlike traditional seasonal sports that last 8-10 weeks, Karate is year round.?That means a monthly fee.?Of course every time they get to the end of a cycle (8-10 weeks), they have a graduation to move up in belt rank; and of course there is a fee.?Once you move past the basic course, you start sparing; and of course you have to buy the protective gear.?And then it is recommended that you attend some tournaments to compete against other schools and other styles; and guess what, you have to pay to be in the tournament.

I’ve learned that the average time it takes to achieve a Black Belt rank is 7 years (we won’t talk about the fact that it does not end at Black Belt).?After doing some calculations, I’ve come to the realization that it will cost my son about $14,000 to get to Black Belt status.

The Smart Money Moves lesson I learned was not to assume that my son would get bored with the activity after a few months.?How much do your kids activities cost.

**Posted on SmartMoneyMoves in 2015