A recent survey by Investors Group has revealed that parents are investing over $1,000 dollars a year in order for their kids to play sports.

Chuck Ealey from the company tells 660News, parents need to have a plan to handle the fees.

He says, “They have what we call a short-term reserve to be able to facilitate that versus putting themselves in the hole in trying to keep up, especially when they’re dealing with the potential athletes that are growing with their ability to play the higher travel sports.”

The survey says nearly four in ten parents say they forego personal expenditures and 19 per cent have given up family vacations.