This tri thing can get expensive - a week of sticker shock :)

It can be expensive, but doesn't have to be.  But I feel what you're saying.  The pricepoint on a lot tri related products can be ridiculous.  Best thing to do is shop around but that's kind of hard for some in such a "gotta have it now" society.  For instance, I have been looking at an owning a Zipp 808 front clincher for over a year now.  Just got it last week for 500 bucks shipped.  Now 500 is not a small price to pay for  one wheel but it was relatively cheap compared to sticker price. 

Look at it as a 1 time fee. Almost any hobby out there has a startup cost and this one is no different. But, you'll be happier, healthier, and probalby look better for it too.

The only thing you'll need now is tubes/tires, and the occasional resupply of running shoes and gels.
Now it's not so expensive.

As far as bikes go the sky's the limit for upgrades. My wish list is long and pricey and I'll have to settle for druling on display bikes. In reality it's the engine that counts. It's kinda like that fancy guitar I'd love to have, but I know it won't make me a better guitarist!

I so wish I could make it a one time fee! But the new toys keep coming out, or older ones come to my attention, then, gotta have it!

One of the nice things about having two kids in college ($$$), is that I have no choice but to rely on workouts to improve my speed in races, if it's to come from anywhere -- and I've learned to "soldier on" when passed on the flat by new bikes, after passing them on the hills with my 10-year old dinosaur South Korean light steel frame. I figure that a minute or two lost on the bike can be made up by tuna fish sandwiches for lunch and dinner, and losing the water bottle in races under 75 degrees....as an age-grouper, you have to ask yourself: "so what?" at some point. Where does it end? I'd rather invest in a great pair of racing shoes to minimize leg pain, than blow my mortgage payment on a bike upgrade. Im an age grouper, for crying out loud!

On the bright side, costs do drop off a lot if you choose to after the initial outlay.

I had the same sticker shock as you when I started (Cervelo P2C for me) and almost the exact same purchases.

Aside from race fees, I didn't incur too many additional charges on top afterwards. Bike accessories were the main thing.

It's worth it - just make sure you use it ! 

ditto what most people have said.  Not all of the cost are recurring,  You most likely won't be buying a bike every year,  there are deals on clothing out there.  unfortunately though-- Shoes.. yes... race fee's yes.  

No kidding there - The ensuing divorce would be the most expensive tri bike I could ever imagine

*shrug* It's as expensive as you want it to be. You can be more active in tris and training without the addition of any more "stuff", just some additional race fees and dedicating more time. 

Agreed about the one time cost problem..... I'm saving up now for a bike that I won't have until next year when I fly to Portland and get fitted.  As of now I have a baby girl on the way, I'm using the trainer exclusively and it sucks but it's a start!

I'm not sure that its really a one time fee.  As a teacher who's married to another teacher, we are on a tight budget. 

Here's been my list of tri-related purchases I've bought since I first started training in March of 2010:
Wetsuit: $100 (bought a used, sleeveless one to save money, even though I live in the Pac-NW!)
2 pairs of goggles: $25
Road bike: $250 (Craigslist)
Bike helmet: $50
Clipless pedals: $50
Bike shoes: $100
Various bike repairs: $100
Tubes/tires: $100
Running shoes: $100
Elastic laces: $7
Race belt: $3
Tri-suit: $50
Two tri races: $160
Two running races: $40
Gym membership (including pool): $45/month

For me, that is a lot of money.  And I feel like I've done it all the 'cheap' way.  In fact, I ran for months in old tennis shoes I bought at an outlet store (no proper fitting or anything) until I literally had a hole in the toes of the shoes.  I just finally broke down and bought a pair of nice running shoes complete with a personal fitting (at which the lady fitting me suggested that I stop wearing the cheap, Target, cotton ankle socks and get some synthetic ones... at $10 per pair!)  Plus, I still train for swimming in my board shorts!

This year I'm looking to spend:
Synthetic socks (4 pair): $40
Clip on aero bars: $100
HIM race: $195
Marathon: $135
Continue my gym membership: $45/month

Again, for me and my family, that's a lot of money. 

It's what ever you make it. I don't disagree with those who spend little, and don't disagree with those who put $3000 into a Zipp sub-9 with power tap. Relatively speaking, if you went to a 'logical' extreme in the sport (in terms of equipment) such as a top-end bike, wheels, pedals, helment, top wet suit, top bike and running shoes, computerized bike trainer, and tri clothing, you most likely would be below $15,000. Over five years, that's only $3000 per year (ok, not including the time value of money, race fees, etc.). Not a cheap sport, but even at the top end very reasonable.

Now, off to see if the above logic will work on my wife!

You did good.  As far as socks you can try the Starter synthetic ones from Wally World - they work fine for me.  And I do all my swim practice in board shorts.  They last forever - nothing wrong with that!  As far as expenses, though, don't overlook the need to get new shoes on occasion.  You'll probably need new shoes every 500 miles or so.

I have added up my expenses for this year, and besides my wishlist deep front wheel pretty much all my money will be going to entry fees.  Oof.

It is what it is........I know numerous people who drop 3 grand on a top set of fitted golf clubs, 40 bucks for a dozen balls, 60-100 bucks for green fees every time they play!  To me, it's well worth the money to get in the best shape of my life, help promote a healthy lifestyle and ultimately become an Ironman!