Nikki Foley (Host):
Every parent wants to give their child opportunities to grow, learn, and succeed. But in a world of youth sports, camps, and endless activities, how do you know when you’re making a meaningful investment in your child’s future—and when you’re simply responding to pressure, comparison, or unrealistic expectations?

And boy, do I feel like I am living in this world right now.

Welcome to Paladin Financial Talk. I’m your host, Nikki Foley, and today I’m joined by featured guest Nicole Giefer, lending us her expertise on this topic as a parent. Welcome to the show, Nicole.

Nicole Giefer (Guest):
Thank you.

Nikki:
This series is all about family and finance. We’re exploring how families are navigating education, financial decisions, leadership development, and preparing students for life beyond the classroom.

Today, I’m bringing you on as a parent, but I also want to note that when I say “parent,” I’m also talking about grandparents. There are a lot of roles grandparents play in children’s lives today, and that’s an essential part of this conversation. We regularly have conversations with grandparents about the resources they’re lending to families—whether that’s time, talents, or treasures.

As they say, it takes a village to raise a child, and that’s really the perspective we’re taking today.

Let me quickly recap where we’ve been in this series.

In our first episode, we covered the student perspective and discussed how education is more than just a degree. There is tremendous value in the experiences and growth that happen along the way.

In the second episode, we spoke with an educator about the skills that help children grow and how those skills connect to financial literacy and real-life readiness.

Today, I want your perspective on making wise decisions around time, money, and opportunity. Are you ready?

Nicole:
If I have the right advice, but yes, absolutely.

Nikki:
Your background naturally lends itself to this conversation. You were a student-athlete who went on to play college basketball, and now you’re married with three children. One is preparing for college, and the other two are heavily involved in activities. You’ve also spent the last 10 years running your own business while balancing family responsibilities.

You’re very familiar with the trade-offs families make. Is there anything else you’d like to add about your background?

Nicole:
I think it’s important to remember there’s never one right or wrong answer. Whether starting my own business was the right decision or staying in an office job was the right decision—I don’t know.

It benefited our family in many ways, but there were also trade-offs financially, with time, relationships, and more. So everything I share today is simply my perspective and experience. There are always two sides to every story.

Nikki:
That’s a fantastic way to frame this discussion.

Let’s start with your athletic background. You played college basketball and received financial assistance for school. Looking back, what do you think were some of the biggest benefits of continuing sports into college?

Nicole:
The obvious one is financial. If you’re fortunate enough to receive a full scholarship, a partial scholarship, or any help paying for college, that’s a tremendous benefit.

Honestly, though, when I was 16 or 17 years old, I wasn’t thinking about the cost of college. I simply wanted to keep playing basketball. I wasn’t ready for sports to be over after high school.

For me, the biggest benefit was getting to continue doing something I loved.

From my parents’ perspective, the financial benefit was probably huge. They got to watch their daughter continue pursuing her passion while receiving an education.

Another major benefit was community. The day I stepped onto campus, I already had a group of friends. Teammates helped me move in. Coaches helped me navigate academics. I had people to eat lunch with and study with.

That built-in support system made the transition easier.

If you’re not an athlete, that’s okay. But I would encourage students to find some kind of group—whether that’s theater, a club, a campus job, or something related to their major. Having a community matters.

Nikki:
Absolutely. Social connection is important at every stage of life, whether you’re starting college or entering retirement.

Were there any drawbacks?

Nicole:
Sure. Looking back, I realize how much time and money my parents invested in my sports. Vacations revolved around tournaments. Weekends revolved around games.

Another drawback is that athletics can sometimes limit your college options. If your dream school isn’t interested in you athletically, you may have to choose between the school you love and the opportunity to continue your sport.

So there are trade-offs.

Nikki:
What I hear you saying is that the benefits can be significant, but it’s important that the student truly wants to continue that activity. If they’re not passionate about it, that experience may feel very different.

Let’s talk about students who don’t play sports. How can they gain those same benefits?

Nicole:
My oldest daughter is a junior in high school right now, and that’s one of my biggest concerns as we look at colleges. She’s probably not going to play a college sport.

So my question becomes: How can she find her people?

Whether it’s a campus job, a church group, an academic organization, or something tied to her interests, I think everyone needs to find a community of people who enjoy similar things.

That’s the biggest thing I want for my kids—finding their group.

Nikki:
Let’s talk about youth sports today. They’re a very different world than they were years ago.

Are they worth it?

Nicole:
I think so. Financially, it can be a challenge. But I believe there are benefits beyond scholarships.

We’ve definitely made mistakes and spent money on things that, in hindsight, probably weren’t necessary. Having three kids has taught us a lot about what to say yes to and what to say no to.

Some activities help build athletic skills. Some provide social opportunities. Some are simply the right fit at the right time.

Even if a child never earns a scholarship, I still think there are tremendous benefits in what they learn through participation.

Nikki:
One of those challenges today is social media. Kids constantly see what other kids are doing.

How has that affected your family?

Nicole:
It’s huge.

My youngest has come to me asking, “Why wasn’t I invited to that camp?” or “Why am I not at that tournament?”

Sometimes it’s because we decided it wasn’t the right fit. Sometimes they simply weren’t invited.

Those are difficult conversations for an 11-, 12-, or 13-year-old.

You have to talk about it. Otherwise, they internalize it and assume everyone else is having experiences they’re missing out on.

Honest communication is really important.

Nikki:
And sometimes the answer is financial.

Nicole:
Absolutely.

We’ve made sacrifices. I’m driving my third minivan. It’s not necessarily what I’d choose, but it was the right financial decision for our family.

We’ve skipped vacations because sports and activities were priorities at that time.

I still believe those sacrifices have been worth it because of the life skills our children are gaining.

Hopefully someday they’ll look back and appreciate those sacrifices the same way I appreciate what my parents did for me.

Nikki:
One thing I think about often is whether kids really need to specialize so early.

I’ve spoken with former Division I athletes who didn’t even start their sport until high school.

What are your thoughts?

Nicole:
I think that’s a really important perspective.

Parents often feel like their child has to be the best player from first grade onward. There’s this fear that if they miss one camp, one tournament, or one opportunity, they’ll fall behind forever.

But that’s not always true.

My son had plenty of challenges growing up in sports. Now he’s thriving in high school.

I also know someone who was cut from a varsity hockey team opportunity in high school. Later, he played Division I hockey, won an Olympic gold medal, and eventually won a Stanley Cup in the NHL.

The point is that setbacks happen. Kids don’t have to be perfect at age eight to be successful later.

Sometimes they need room to grow.

Nikki:
I think that’s the central message today—perspective.

It’s not always about the activity itself. It’s about the skills being developed through the activity.

Nikki:
Let’s shift back to finances.

Research from the American College of Financial Services suggests that more than half of adults age 50 and older provide financial support to family members.

Many families are trying to balance helping children today while also planning for retirement.

One of my favorite quotes from Stephen Covey is, “Begin with the end in mind.”

If people start planning earlier and understand what retirement will require, they can make better decisions about activities, education, and financial support along the way.

Unfortunately, many people don’t plan first. They make decisions as opportunities arise, and eventually those choices create a financial reality they didn’t anticipate.

That’s why having a financial plan can be so valuable.

Nicole:
I agree completely.

Having a 17-year-old and looking at colleges right now means having honest conversations.

We have to explain what we can help with and what responsibilities she’ll have.

Those aren’t easy conversations, but they’re important.

Communication really is the key.

Nikki:
Before we wrap up, is there any final advice you’d like to share with parents or grandparents?

Nicole:
I think any help is meaningful help.

My parents watched our children when they were younger. They passed down a vehicle when our kids became drivers.

Maybe someone can’t pay for college or buy a house for a grandchild. That’s okay.

Sometimes a reliable car, a helping hand, or simply being present can make a huge difference to a family.

Support doesn’t always have to come in the form of a large financial gift.

Nikki:
Absolutely.

Nicole, thank you for sharing your perspective today. You’ve provided valuable insight into the balancing act families face between opportunities, finances, and long-term goals.

And thank you to our listeners for joining us for another episode of Paladin Financial Talk.

If you’d like a complimentary resource, we have a downloadable checklist titled “What Issues Do I Need to Consider as My Child Becomes Independent?” available on our website. It covers financial access, health records, academic information, emergency planning, and more.

You can find it at PaladinFinancialTalk.com or through PaladinFinancial.com.

Thanks again for listening, and we’ll see you next time on Paladin Financial Talk.