Released May 26, 2009

ST. PAUL, Minn. – As summer approaches, children and teens may be getting ready for specialized camps and activities. The current economy might have parents thinking twice about the costs related to these activities. Communicating concerns related to the economy is important for parents and children to come to an understanding of the current economic realities that families face. Families may also want to discuss strategies to address the needs and wants of family members.

As a family, think about the activities in which the children are involved:

• What are the fees to participate?
• Is specialized equipment necessary to participate? Is the equipment owned? Can it be borrowed rather than purchased?
• Are there additional costs, such as money for meals, lodging or transportation? Often times, families become involved by traveling with the child to events. These costs need to be considered as well.

It is important to address how the family will pay for the activities if parents cannot pay for the entire amount.

• Are there scholarships or funds that can help students during tough economic times?
• Will student work or savings be used if the child feels the camp or activity is a priority in which to be involved?

Talking about these things as a family is important to determine which activities children will be able to participate in. Perhaps for youth who earn money, a cost-share is necessary to make ends meet this year. This may be difficult for parents to acknowledge if they are used to providing these experiences for their children, but it may be important for children to understand that if the activity is a priority, they may need to make a financial commitment to supporting their own involvement.

If there have been job losses or unanticipated economic problems, it may be necessary to talk with children about the potential of everyone in the family making some sacrifices this year and reassess next year as circumstances change. If this is the case, make sure to involve children in the plan to set and reach economic goals in the future.

University of Minnesota Extension has many resources to assist youth and families during economic tough times at http://www.extension.umn.edu/toughtimes and http://www.extension.umn.edu/Youth&Money.

--30--

http://www.extension.umn.edu/extensionnews/2009/summer-youth-activities.html

Source: Lori Hendrickson is a family resource management educator with University of Minnesota Extension.

Writer: Catherine Dehdashti, (612) 625-0237, ced@umn.edu