Comments on: JLP’s Question of the Day – Kids’ Hobbies http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Sat, 11 Feb 2012 20:32:19 +0000 hourly 1 http://wordpress.org/?v= By: Joseph http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-112911 Joseph Thu, 14 Jun 2007 18:07:25 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-112911 I disagree, in that Money raises great topics, sometimes provides a good picture, and nonetheless leaves you thinking about how your own personal situation might be affected. If being left in a wondering situation doesn't agree with you, maybe you shouldn't be reading publications meant for adults and instead go watch "Sesame Street". To state that "'leaves you wondering' is really a tease" implies that you don't have the initiative or wherewithall to come up with your own conclusions. Sounds like you'd rather be spoon-fed a completely defined situation so that you're not expected to derive your own perspective. I disagree, in that Money raises great topics, sometimes provides a good picture, and nonetheless leaves you thinking about how your own personal situation might be affected.

If being left in a wondering situation doesn’t agree with you, maybe you shouldn’t be reading publications meant for adults and instead go watch “Sesame Street”.

To state that “‘leaves you wondering’ is really a tease” implies that you don’t have the initiative or wherewithall to come up with your own conclusions. Sounds like you’d rather be spoon-fed a completely defined situation so that you’re not expected to derive your own perspective.

]]> By: Miguel http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-81723 Miguel Wed, 28 Feb 2007 18:21:50 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-81723 This is one of the reasons I don't read Money Mag - the articles raise interesting topics, but never give you the full picture and leave you wondering. It's one tease after another. This is one of the reasons I don’t read Money Mag – the articles raise interesting topics, but never give you the full picture and leave you wondering. It’s one tease after another.

]]> By: MossysF http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-81701 MossysF Wed, 28 Feb 2007 17:15:33 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-81701 Just make sure they pick a sport where they don't have to dose up on steroids, human growth hormones, amphetamines to compete. The health consequences later in life may be more costly. Just make sure they pick a sport where they don’t have to dose up on steroids, human growth hormones, amphetamines to compete. The health consequences later in life may be more costly.

]]> By: philskaren http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-81372 philskaren Tue, 27 Feb 2007 23:36:02 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-81372 On the flip side of the olympic medal, what if the kid changes their mind after the parents sink thousands of dollars? What a shame that little Johnny isn't interested in baseball anymore or gets injured and nothing comes of all that money, since you just spent 12 years worth of sacrifice on his baseball career. On the flip side of the olympic medal, what if the kid changes their mind after the parents sink thousands of dollars? What a shame that little Johnny isn’t interested in baseball anymore or gets injured and nothing comes of all that money, since you just spent 12 years worth of sacrifice on his baseball career.

]]> By: phil http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-81365 phil Tue, 27 Feb 2007 23:18:36 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-81365 Well, it was obviously excessive since they had $80,000 in credit card debt. Plus, who knows how it contributed to their divorce? And what percentage of youth athletes go on to compete on an international level? But I can understand the people that argue, "Well, if my kid's doing well, I can't stop now". I think, bottom line, as long as it's not driving you to debt, you're ok. Afterall, there are worse things to spend your money on than your kids' futures. Well, it was obviously excessive since they had $80,000 in credit card debt. Plus, who knows how it contributed to their divorce?

And what percentage of youth athletes go on to compete on an international level? But I can understand the people that argue, “Well, if my kid’s doing well, I can’t stop now”. I think, bottom line, as long as it’s not driving you to debt, you’re ok. Afterall, there are worse things to spend your money on than your kids’ futures.

]]> By: Foobarista http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-81342 Foobarista Tue, 27 Feb 2007 22:13:32 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-81342 Personally, I'm a bit biased since my brother was a near-Olympic swimmer when he was a kid. If you see a kid excelling in something, and doing well in world-level competitions, it's hard to say "we'll quit spending on the "hobby". In practice, swimming isn't quite as monstrously expensive as some other sports, but it is a massive time-sink, especially since you can typically trade swim-club dues for volunteer time at meets and such. Oddly, my parents started him on swimming because the club team swam at his elementary school after school and it was cheaper than day care! My brother had an untimely bunch of injuries when he was 17 and 18 that prevented him from going on with his swimming career, but he got scholarships and has become a successful swim coach. He still holds a couple of age-group records. Personally, I’m a bit biased since my brother was a near-Olympic swimmer when he was a kid. If you see a kid excelling in something, and doing well in world-level competitions, it’s hard to say “we’ll quit spending on the “hobby”. In practice, swimming isn’t quite as monstrously expensive as some other sports, but it is a massive time-sink, especially since you can typically trade swim-club dues for volunteer time at meets and such.

Oddly, my parents started him on swimming because the club team swam at his elementary school after school and it was cheaper than day care!

My brother had an untimely bunch of injuries when he was 17 and 18 that prevented him from going on with his swimming career, but he got scholarships and has become a successful swim coach. He still holds a couple of age-group records.

]]> By: Rob http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-81322 Rob Tue, 27 Feb 2007 21:10:02 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-81322 Yeha - I think the pay-off is more in terms of the olympic gold than any uni tuition... How do you put a price on that? (Well - $250,000 obviously) Yeha – I think the pay-off is more in terms of the olympic gold than any uni tuition… How do you put a price on that? (Well – $250,000 obviously)

]]> By: indio http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-81306 indio Tue, 27 Feb 2007 20:48:26 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-81306 The article says that the mother currently lives in Portland, OR so maybe it was worth the college tuition for Penn State. My kids are young so I don't spend more than $250 on each of them for their extracurricular activities. Also, we belong to our local YMCA where the activities are, for the most part, low cost (swimming, karate, gym, baby music/gym classes). Since I work, there is no way I could fit more activities into the weekday schedule. The article says that the mother currently lives in Portland, OR so maybe it was worth the college tuition for Penn State.
My kids are young so I don’t spend more than $250 on each of them for their extracurricular activities. Also, we belong to our local YMCA where the activities are, for the most part, low cost (swimming, karate, gym, baby music/gym classes). Since I work, there is no way I could fit more activities into the weekday schedule.

]]> By: Foobarista http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-81301 Foobarista Tue, 27 Feb 2007 20:26:14 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-81301 This is one of those areas where one can't really make a financial argument. Is any obsession or consuming passion truly "worth it" financially? They rarely are - although sometimes they pay off spectacularly - but lots of wonderful things wouldn't be done if everyone strictly lived in a manner that would impress the green-eyeshade set. This is one of those areas where one can’t really make a financial argument. Is any obsession or consuming passion truly “worth it” financially? They rarely are – although sometimes they pay off spectacularly – but lots of wonderful things wouldn’t be done if everyone strictly lived in a manner that would impress the green-eyeshade set.

]]> By: Craig http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/comment-page-1/#comment-81288 Craig Tue, 27 Feb 2007 19:34:38 +0000 http://allfinancialmatters.com/2007/02/27/jlps-question-of-the-day-kids-hobbies/#comment-81288 They may have received scholarships, but if the parents had invested the $250,000 they said they spent over the years they would have had enough to pay for both tuitions in cash with an enormous nest egg left over to put toward retirement. On the other hand, seeing your kid win a gold medal in the Olympics is priceless, but obviously there's no guarantee that will happen. They may have received scholarships, but if the parents had invested the $250,000 they said they spent over the years they would have had enough to pay for both tuitions in cash with an enormous nest egg left over to put toward retirement. On the other hand, seeing your kid win a gold medal in the Olympics is priceless, but obviously there’s no guarantee that will happen.

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