Majority of parents say they’re going into debt because of kids’ extracurricular activities

Sixty-two percent of parents say they’re going into debt over their kids’ activities.

A new study by CompareCards.com finds that nearly half of parents surveyed have dropped at least $1,000 per year for their children’s activities.

The majority of moms and dads believed the activities could boost their children’s college applications and even bring in extra income some day.

Sports were number one on the list, followed by music, dance, gymnastics, cheerleading, martial arts, beauty pageants and debate teams.

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