A:

When the economy is struggling and people are holding on to their money a little tighter, you need to find less expensive alternatives to many activities, including summer camp. Summer camps have provided countless children with memories and experiences that they will remember for a lifetime. However, if you can't afford to send your children away to camp there are many cost-effective alternatives that can prove to be just as rewarding.

The underlying ideas of a summer camp is usually to promote physical fitness, an appreciation for nature and history, and an opportunity to meet other campers and create friendships that last long past the end of summer. That being said, including these goals in your kids' summer activities can leave them feeling just as fulfilled and you feeling a lot less stressed over summer finances. Often the most expensive aspect of camp is the enrollment fee, which can run into the thousands for some out-of-state camps. By introducing your kids to the natural beauty and history of their hometown, they will gain a greater appreciation for their community and learn those lessons from camp at the same time. Take advantage of your town's heritage sites and public transportation. Visiting the local museum or zoo during weekdays can be much less expensive and a great learning experience for children of all ages. Registering children in summer sports leagues can provide them with an opportunity to be physically active and to make new friends with teammates and opponents, and the cost of most summer leagues tends to be a lot less than a typical summer camp.

By taking the initiative to introduce your children to a variety of activities close to home you can make sure that they don't miss out on the great lessons and memories that a fun-filled summer can bring. (For more on summer financing, read our related articles Budget-Friendly Summer Fun and Save Money On Summer Bills.)

This question was answered by Lovey Grewal.

RELATED FAQS
  1. Which mutual funds made money in 2008?

    Out of the 2,800 mutual funds that Morningstar, Inc., the leading provider of independent investment research in North America, ... Read Full Answer >>
  2. Do interest rates increase during a recession?

    Interest rates rarely increase during a recession. Actually, the opposite tends to happen; as the economy contracts, interest ... Read Full Answer >>
  3. Marginal propensity to Consume (MPC) Vs. Save (MPS)

    Historically, because people in the United States have shown a higher propensity to consume, this is likely the more important ... Read Full Answer >>
  4. What are the risks of annuities in a recession?

    Annuities come in several forms, the two most common being fixed annuities and variable annuities. During a recession, variable ... Read Full Answer >>
  5. Is Japan an emerging market economy?

    Japan is not an emerging market economy. Emerging market economies are characterized by low per capita incomes, poor infrastructure ... Read Full Answer >>
  6. Are Social Security payments included in the US GDP calculation?

    Social Security payments are not included in the U.S. definition of the gross domestic product (GDP). Transfer Payments For ... Read Full Answer >>
Related Articles
  1. Investing

    Retirees: 7 Lessons from 2008 for the Next Crisis

    When the last big market crisis hit, many retirees ran to the sidelines. Next time, there are better ways to manage your portfolio.
  2. Economics

    Industries That Thrive On Recession

    Recessions are not equally hard on everyone. In fact, there are some industries that even flourish amid the adversity.
  3. Economics

    What is a Complement?

    A good or service that’s used in conjunction with another good or service is a complement.
  4. Fundamental Analysis

    Is a U.S. Industrial Recession on the Horizon in 2016?

    Find out why the industrial economy may be teetering on an industrial recession and what could prevent it from going over the cliff.
  5. Fundamental Analysis

    Gloom and Doom for Global Markets in 2016?

    Learn about the volatility in global markets during the beginning of 2016. See why famous investors are saying some economies could see recessions.
  6. Investing News

    Chipotle Served with Criminal Probe

    Chipotle's beat muted expectations and got a clear bill from the CDC, but it now appears that an investigation into its E.coli breakout has expanded.
  7. Stock Analysis

    From Shampoo to Soup, Unilever Has it Covered (UL)

    Open your fridge, your pantry, your bathroom cabinet and you'll find the Unilever logo. Here's how the company got so enormous.
  8. Investing News

    Is it the Right Time to Raise Interest Rates?

    Warning signs have started to emerge that point to a potentially dismal 2016 for the U.S. economy.
  9. Stock Analysis

    Worried About a Recession? Consider These 5 Stocks

    If you're worried about a recession, consider these five stocks that offer resiliency potential.
  10. Stock Analysis

    JNJ vs. PG: Which is the Better Bet Right Now?

    These two stocks are long-term powerhouses, but one has the edge over the other right now.
RELATED TERMS
  1. Consumer Confidence Index - CCI

    A survey by the Conference Board that measures how optimistic ...
  2. Stock Market Crash

    A rapid and often unanticipated drop in stock prices.
  3. Duty Free

    Goods that international travelers can purchase without paying ...
  4. The New Deal

    A series of domestic programs designed to help the United States ...
  5. Negative Option Deals

    A dubious business practice that involves supplying a typically ...
  6. G.19 Report

    A monthly statistical report from the U.S. Federal Reserve that ...
Trading Center