1 Competitive cheerleading outfits can cost anywhere from $300 to $500. 2  Anytime the cheer team enters a competition, a competition fee will have to be paid, which can vary anywhere from $100 to as much as $1,000 or more.3  Hotels, airline tickets and other accommodations, if the competition is far away, should be budgeted. Aside from the start up fees, plan on spending at least $75 to $200 per month to cheer in a competitive setting. 2  The yearly costs for competitive cheerleading, on average, can range from $2,000 to as much as $4,300; this would include everything necessary to participate with the club.