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Buy used equipment.
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Buy one or two grades below the top of the line (there is often no appreciable difference in quality).
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Buy house brands/off brands.
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Buy at end-of-season sales.
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Buy at discount stores; never pay full price if you don't have to.
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Buy on-line.
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If your child is very successful at his or her sport, call the manufacturer's representative for free equipment, or have the coach make the call.