economy

January 26, 2026

Olympian Alysa Liu's training cost up to $1 million, her dad says—how experts say to approach spending on extracurriculars

Spending hundreds or thousands on your child's activities is OK, experts say, as long as you are aware of your goals and financial situation first.

Olympian Alysa Liu's training cost up to $1 million, her dad says—how experts say to approach spending on extracurriculars

TL;DR

  • The cost of training elite athletes can range from hundreds of thousands to over a million dollars.
  • The average U.S. family spent $1,016 on their child's primary sport in 2024.
  • Financial experts advise parents to secure their own finances before investing heavily in extracurriculars.
  • Only spend discretionary money that you can afford to lose on a child's activities.
  • The odds of receiving athletic scholarships are low, with only about 2% of high school athletes awarded them.
  • Children learn valuable life skills like teamwork, discipline, and time management through extracurriculars.
  • Do not tap into retirement savings or go into debt to fund a child's aspirations.
  • Maintain essential monthly expenditures and a cash reserve for emergencies.

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