Wouldn’t it be nice to just buy a pair of shoes and shorts for your kid’s sport? Well, it does for the parents.

After playing hockey for a few years though, you realize something. Hockey equipment is simply unmatched when it comes to what the gear means to the players.

What other sport has so many pieces of equipment that are highly customizable from an early age?  Think about it. There isn’t much equipment to start with in basketball, soccer, tennis, etc. and in sports like football most of the equipment is standardized. Baseball and softball may be the closest with how protective players get of their glove, lucky bats and how to wear their socks or ball cap.

Hockey is on a whole different level. Just walk into a Peewee locker room and ask how they tape their stick or about their newest set of wheels. By high school, players have found a way to customize nearly every piece of equipment, and in many ways, their gear becomes an expression of who they are.

It is part of what makes playing hockey so unique.

Like so many other areas of life, the key is to figure out ways to manage the costs of equipment and other hockey expenses so the benefits of the game can take center stage. Here are a few tips to help this season.

The Equipment Doesn't Make the Player

The hockey player makes the equipment, not the other way around, and that is true when it comes to both appearance and performance.

And while hockey does require more equipment to stay safe than some other sports, there’s also a number of ways to save big bucks on hockey gear. If you’re kid is just starting out, check with your local associations to see if they have any equipment available. Most associations have a program designed to help younger players find equipment at low or no cost.  As players get older, leasing or buying used equipment can be a great way to save while still getting quality gear. 

Not a fan of used equipment?  That's fine. Even with new equipment, there are several levels of quality and cost.  Players can get brand new gear for a reasonable price if you go for an older model or different style. For most players, especially at the younger age levels, there will be minimal impact on performance when buying equipment that can help the budget significantly.  A great example of this is using a wood stick.

Just remember, the most important things to consider with equipment are fit and safety, regardless of whether you are looking at borrowed, used or new equipment. 

Develop an Emergency Fund

Common sense, right? Establishing an emergency fund is probably on every personal finance guide in the world, but it doesn’t get nearly enough attention as it relates to sports. Whether it is paying for miscellaneous expenses like tape and skate sharpenings, additional ice times during your #Drive2State or replacing your kid’s stick when it gets broken the day after the warranty expires, creating a savings plan can ease the pressure of unexpected costs.

If you don’t have any room in your budget to save for an emergency fund, check out our new official partner, Hiway Federal Credit Union (Hiway).  They can help you save hundreds and even thousands of dollars in less time than it takes to zamboni the ice at Xcel Energy Center.

Limit the Sneaky Expenses

One of the most frustrating plays in hockey is the back door goal. It seems like such an easy play to stop. Simply cover the guy standing all alone on the back side of the crease.

The challenge is the players that know how to get those goals consistently are super sneaky.  They wait patiently behind the net or along the far boards until just the right moment to spring into position for the pass and tap in goal. 

In a lot of ways, food and travel expenses are like back door goals. They are so obvious because everyone knows about them ahead of time. Yet, many families have their budgets slowly sabotaged because trips to concession stand or the local Subway add up over the course of the season. 

Here are three ways to reduce these necessary but tricky expenses:

• Carpool – Parents with multiple kids are often masters of this already, but one area that seems to get overlooked is parents can join in on carpools. They aren’t just for kids.
• Fast Food Freeze – Late night and early morning practices have a unique ability to create fast food cravings. Planning meals ahead of time can help accommodate crazy schedules and limit the influence of our favorite hot spots.
• Cooler Tour – Tournaments are one of the best parts of youth hockey for kids (and parents), but they can be some of the more costly weekends of the season. Packing a cooler with fruit, snacks and water bottles helps limit what you spend while also ensuring healthier meals and snacks. 

Create Your Own Scholarship

“Chasing the dream” has developed a negative connotation in our society, which is really too bad. Every kid should have the opportunity to dream and to chase their dream if they want to. After all, what more could a parent ask for than to have your child find their passion and pursue it wholeheartedly?

Nonetheless, it’s important to remember that only about 1% of all hockey players will play Division I hockey, and some Division I schools don’t offer any athletic scholarships. 

If you really want to give your son or daughter a scholarship for college, you would be better off contacting Hiway about a 529 College Savings Plan. Start saving $125 a month when your child is a Mite/8U player and you can hand them (or their college!) a check for over $20,000* when they head off to school.

That way you can allow your kids to pursue their dreams without any pressure. If they continue to love hockey and work hard at it, maybe they will beat the odds. If not, they will always have your support and that highly coveted college “scholarship.”

*Based on saving $125 per month for 120 months at earning of 6.00%.