The Financials of Figure Skating
The True Cost of Figure Skating (and Smart Ways to Make It More Affordable)
Figure skating is a beautiful sport — but it’s no secret that it comes with real financial considerations. For families new to skating (and even those who’ve been around for years), understanding where the costs come from — and how to plan wisely — can make all the difference between stress and sustainability.
In a 60 Minutes interview, Arthur Liu — the father of Olympian Alysa Liu — shared that he estimates spending between $500,000 and $1 million on his daughter’s figure skating training over the years. The number is striking, and for many families, even unimaginable.
Stories like this often circulate as cautionary tales, reinforcing the idea that figure skating is an elite sport reserved only for those willing (or able) to spend without limits. And while it’s true that skating — like many high-level sports — can carry significant financial costs, those headline figures rarely tell the full story.
For most families, figure skating isn’t about chasing Olympic podiums. It’s about investing in something deeper.
Skating teaches far more than jumps, spins, and footwork. It builds discipline, resilience, time management, goal-setting, and self-confidence. It teaches young people how to fall — literally and figuratively — and get back up with determination. In that sense, the money spent on skating isn’t just an investment in a sport; it’s an investment in the development of a whole person.
That doesn’t mean cost shouldn’t be discussed openly. In fact, transparency and planning are essential to making skating sustainable, positive, and accessible.
At Skate VIDA, our philosophy is rooted in helping families navigate this journey with clarity, intention, and care — supporting skaters not just as athletes, but as growing individuals whose time on the ice builds skills that last far beyond the rink.
In this post, we break down the true costs of figure skating — and share smart, realistic ways families can plan ahead, manage expenses, and make thoughtful choices that support both their skater’s growth and their peace of mind.
What Goes Into the Cost of Figure Skating?
While every skater’s path is different, most expenses fall into a few main categories.
1️⃣ Lessons & Coaching
Coaching is typically the largest and most consistent cost. This may include:
Group classes
Private lessons
Specialty clinics or skill-focused sessions
The number of lessons a skater needs depends on age, goals, and training frequency — not every skater needs the same level of intensity to progress safely and happily.
💡 Smart tip: Consistency matters more than volume. A sustainable weekly plan often leads to better long-term results than overloading too quickly.
2️⃣ Ice Time
Ice time includes:
Freestyle sessions
Practice ice outside of lessons
Costs vary depending on how often a skater trains and the type of ice sessions they attend.
💡 Smart tip: Planning practice days in advance helps avoid last-minute add-ons that can quietly inflate costs. Purchasing ice time in packages rather than a la carte can help significantly reduce costs.
3️⃣ Competitions & Testing
As skaters move into testing or competitions, additional expenses may include:
Entry fees
Coaching fees at events
Travel and lodging
Test session fees
Not every skater needs to compete — and competition schedules can (and should) be built intentionally.
👉 Internal link: Learn more about thoughtful competition planning here
4️⃣ Skates, Costumes & Apparel
Equipment and apparel costs may include:
Skates and blades
Practice wear
Costumes for performances or competitions
While some items are essential, others can be managed strategically.
💡 Smart tip: Costumes do not need to be custom-made for every season to look polished and professional.
👉 Internal link: Explore how dress rental can reduce costs without sacrificing presentation
Dress Rental: A Smart Cost-Saving Option
Dress rental is one of the most effective ways families can reduce seasonal expenses.
Benefits of costume rental include:
Significant savings compared to custom dresses
Professional-quality designs
No pressure to outgrow or resell a costume
Less stress during competition prep
For many skaters — especially those still growing or new to competitions — rental provides flexibility without compromise.
Planning Ahead Makes Skating More Affordable
One of the biggest cost drivers in skating isn’t what families spend — it’s when they spend it.
Smart Planning Strategies:
Map out the season early (tests, competitions, showcases)
Set a monthly skating budget instead of reacting week-to-week
Communicate goals clearly with coaches
Ask questions — there are often multiple paths forward
Spring is an ideal time to reassess goals, adjust training plans, and prepare for the next phase of the season without pressure.
A Final Word for Skating Families
Figure skating is an investment — but it doesn’t have to feel overwhelming.
With clear communication, thoughtful planning, and smart choices, families can create a skating experience that is:
Financially sustainable
Emotionally positive
Developmentally appropriate
At Skate VIDA, our goal is to help skaters thrive on and off the ice, with guidance that supports both progress and peace of mind.
If you ever have questions about planning, budgeting, or options for your skater, we’re always happy to help you explore what makes the most sense for your family.
Want to dive deeper?
This article is part of a broader series exploring what figure skating truly costs — and how families can make informed, sustainable choices along the way.
In the coming posts, we’ll take a closer look at:
The cost-benefit balance of private lessons vs. group classes
What skaters really need when it comes to equipment and gear
The often-overlooked time, emotional, and family commitments involved in skating
Together, these pieces are designed to help families understand not just the price of figure skating, but the full picture — so the journey feels intentional, supported, and rewarding.