Financial management is critical to your current wellness and future success. It all starts with education and information on managing your finances, and Altra Federal Credit Union can help.
Question: How can I save money on my kids’ summer camp this year?
Answer: In a perfect world, summer would be a time for children and parents to soak up the sun and enjoy a slower pace. But, as most of us know, work calendars don’t always align with summer breaks. To keep your kids busy and engaged, summer camp can be a great option for busy households, but costs can build up quickly. Here are 10 strategies for cutting summer camp costs this season:
1. Camp Scholarships: Many summer camps offer scholarships or financial aid for families in need. Chat with camp staff to determine your eligibility and submit any required documentation.
2. State Subsidies: Depending on where you live, some states offer income-eligible subsidy programs for qualifying families. Start your search online for local organizations that can steer you to the proper application forms.
3. Day Camps: Day camps can be significantly cheaper than overnight camps since they don’t include accommodation expenses. Look for day camps in your area that offer similar activities and experiences to overnight camps.
4. Sibling + Group Discounts: Do you have more than one camper in your household this year? Or even other children in your parent group that could add to the headcount? Look for camps that offer sibling and/or group discounts.
5. Community Programs: Most community recreation centers offer year-round low-cost or free programs for children, including day camps, sports leagues, or even virtual experiences led by online educators. Check out offerings at local non-profits and youth clubs for additional options.
6. Flexible Payment Plans: Research camps that offer flexible payment plans, allowing you to spread out the cost over several months rather than paying a lump sum upfront.
7. Partial Weeks: Does your schedule allow for partial weeks at camp? Many camps offer the option to enroll two or three days per week (or even on a per-day basis) instead of a full week session. This can make camp attendance more manageable in the short term, especially if you have summer travel plans.
8. Pack Your Own Supplies: Camps often charge extra for snacks, meals, and supplies. Save money by packing your child’s snacks and lunch each day, and ensure they have the necessary supplies like sunscreen, bug spray, and water bottles.
9. Flexible Spending Accounts: Some employers may allow allocation of FSA funds to cover expenses if the camp is considered a qualified dependent care expense. Check your specific plan to confirm whether summer camp expenses are reimbursement eligible.
10. Volunteer Opportunities: Some camps offer discounts for families willing to lend their time (similar to co-op programs where parents can assist in classrooms). Helping with administrative tasks or coordinating activities has the secondary benefit of enriching your resume.
You’re not alone when it comes to crunching the numbers. Check with your bank or credit union for resources to help improve your financial wellness. From certified financial coaches and counselors to online educational tools, many institutions provide a full-range of support, including financial wellness assessments to track your progress, podcasts for on-the-go learning, and classes or dynamic learning apps designed for both adults and youth.
Altra Federal Credit Union offers an array of financial tools and information to help you manage your money. For more, visit them online, visit one of their Clarksville locations – 1600 Madison St. or 2625 Wilma Rudolph Blvd. – or call 800-755-0055.
Danielle Anderson, AVP, Financial Wellness & Youth Strategies, Altra Federal Credit Union. Portions of this article are shared by our partners at GreenPath Financial Wellness, a trusted national nonprofit. Content is for informational purposes only and is not intended as legal, tax or financial advice.