This hockey season has young players out in full force in arenas, rinks and ponds across Canada to play the country’s favourite sport.
Their number one fans, their parents, expect to spend an average $849 for their kids’ hockey season. This is down from $1,026 in 2010, finds a Scotiabank poll. While many hockey parents say organized minor hockey is affordable (65%), 35% feel it isn’t.
“As this hockey season winds down, it’s the perfect time to start saving for next year,” says Ahmad Dajani, Vice President, Investments, GICs & Sales Tools at Scotiabank.
Additional findings include:
- 34% expect to spend over $1,000 on their children’s hockey this year;
- The amount parents expected to pay for their kids’ hockey rises depending on their ages: those with kids ages 3-8 expect to pay $696; those with players ages 9-12 expect to pay $915; and those with teenage players ages 13-17 plan to spend $933;
- One of the biggest expenses for parents is out-of-town tournaments ($486 vs. $201 for in-town tournaments). The biggest expense parents listed for out of town tournaments is accommodations (74%), followed by food (14%) and transportation (12%);
- 40% believe their children’s hockey expenses are high and they have to cut back spending in other areas to make it work;
- 26% believe the costs of their children’s hockey can be overwhelming;
- 75% plan for these expenses; and
- the top ways Canadian hockey parents cut back are by purchasing or sourcing used hockey equipment (56%) and carpooling with other parents to and from games and practices (42%).
“It’s incredible how much the cost of hockey equipment has grown since I first started playing,” says Cassie Campbell-Pascall, Scotiabank Hockey Ambassador and Canadian Olympic gold medalist. “Minor hockey is such an important part of Canadian communities and it is something that needs support to grow.”