Generation of Kids’ Sporting Dreams at Risk Due to Financial Hardship, New Study Reveals
London, UK – As the country eagerly awaits the start of Euros 2024 and with Wimbledon and the Olympics just around the corner, the important role of sports in our lives is making headlines. However, for many children from low-income families, their dreams of participating in sports and reaping the benefits are being crushed by rising living costs and fees.
A new study, released today by financial wellbeing organisation Money Wellness, has revealed the struggles that families across the UK are facing in order to afford out-of-school sports activities for their children. The findings show that 1 in 2 parents are finding it difficult to cover the costs, with 40% of them spending between £20 and £50 per week on their children’s sporting endeavours.
The survey, conducted among parents with a total household income of less than £35,000 a year whose children participate in some form of extracurricular sport, also revealed that over half (56%) of parents struggle to afford the cost, with a third having to make cutbacks in other areas of their lives to ensure their children can take part. One in five parents said they had to work overtime to pay for the lessons, and one in ten admitted to limiting how often their children can attend classes or training.
Sebrina McCullough, Director of External Relations at Money Wellness, expressed concern over the impact of financial barriers on children’s participation in sports. “The benefits of children participating in sport are well documented – from improved physical and mental health to developing teamwork skills. It’s a shame that cost is proving to be a barrier for children from low-income families,” she said.
McCullough also highlighted the organisation’s mission to help struggling families by ensuring they are receiving all the benefits they are entitled to and searching for grants that can help alleviate money worries. “For those struggling to repay the money they owe, we can also talk them through the range of help available to deal with debt. It’s our mission to help people live more and stress less,” she added.
In an effort to support children with a talent for sports but who struggle to cover the cost of lessons, SportsAid’s Backing the Best scheme offers financial assistance of up to £5,000 per year. This program helps athletes with expenses such as travel, medical bills, and accommodation, with the aim of ensuring that ability and attitude are the only criteria for success, not money.
Phil Smith, Director of Sport and Sport England, commented on the importance of the Backing the Best program, saying, “Ultimately, we want our national teams to represent our country rather than just those that can afford to reach the top.”
For parents whose children are not yet on the brink of stardom, there are other ways to reduce the cost of their sporting activities. In 2023, Sport England provided over a thousand projects nationwide with financial support worth £10 million+. Many of these projects were also supported through crowdfunding by individuals, businesses, and groups who wanted to help local community projects.
Through the help of organisations like Sport England, clubs across the country can offer bursaries or financial assistance to help children from low-income families participate for free or at a reduced cost. Parents interested in enrolling their children in a club can inquire about any available assistance for low-income families.
In addition, parents can also check with their local council for affordable sessions and classes as they are typically less expensive than those offered at private facilities. Local authorities’ websites usually have details of low-cost activities for children. Community sport hubs, which bring together various clubs and local partners, also offer a budget-friendly way to participate in a range of sports.
Money Wellness is also reminding people to check if they are entitled to any benefits, especially if their financial circumstances have recently changed. To do so, they can visit the Money Wellness Benefits Checker at https://benefits.inbest.ai/moneywellness.
For further information, please contact Caroline Chell at Money Wellness: caroline.chell@moneywellness.com or 07814448564.
Notes to Editors:
– Money Wellness is commissioned by the Money and Pensions Service (MaPS) to provide free debt and money advice, assisting around 1,000 people daily. It is also one of two dedicated Debt Relief Order (DRO) hubs in the country.
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