Survey: Most Parents Think Kids' Extracurricular Activities Will Someday Pay Off

MINNEAPOLIS (WCCO) -- A new survey finds that a significant majority of parents in the United States believe their kids' extracurricular activities – sports, music, etc. – will someday pay off.

According to the report from CompareCards.com, parents also believe the more that is spent on a child, the more likely it will pay off.

Ninety percent of parents who spend at least $4,000 a year think their kid will earn money on it, while 75% of parents who spend less than $1,000 believe the same.

At the same time, 62% of parents admit to going into debt for their child's activity. And one in three are currently paying off that debt.

The takeaway? Support your child's dreams, but be realistic and careful. Consider low-coast alternatives, save for the expense, have your child pitch in and don't be afraid to think of yourself.