racing budget (Page 2)
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2005-10-27 5:44 PM in reply to: #273607 |
Master 1867 The real USC, in the ghetto of LA | Subject: RE: racing budget the bear - 2005-10-27 3:56 PM autumn - 2005-10-27 2:32 PM . there are also the one time costs (bike, wetsuit, tri suit) that may effect the budget of one season but not the next, as compared to on going costs (USAT membership, running shoes, etc.). From an accounting standpoint, you should pro rate (depreciate) these items over their useful life, for instance a $1,500 bike used over, say, five seasons would have a $300 impact on the annual budget. if we stay a litlle bit into accounting. if a company buys and asset, say a paice of land; and has to mow down a hill to make it "useful" then that cost is added to the value on the books of that asset. now if we consider ourselfs an asset, then all these costs that directly go into us, food and coaching etc. can be added to our asset total. (dont talk about this with your life insurance carrier though.) and yes, you can not add the bike to your asset total. thinking about that, i will take a huge loss when i die..... |
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2005-10-27 5:47 PM in reply to: #273392 |
Master 1867 The real USC, in the ghetto of LA | Subject: RE: racing budget well i figure: -i quit smoking -i dont eat fast food anymore -i dont drink soda now -i drink alot less (and im not talking about water) i have a big tri budget. |
2005-10-27 6:09 PM in reply to: #273392 |
Coach 10487 Boston, MA | Subject: RE: racing budget I don't know what my tri expenses were for 2005 (maybe a lot!) but I do know one thing... I rather be spending a big chunk of my money on training, racing, traveling and equipment as for me that means I am leaving a MUCH healthier lifestyle... in other words I don't see it as an expense but as an investment... |
2005-10-30 12:24 AM in reply to: #273464 |
Elite 2468 Racine, WI | Subject: RE: racing budget the bear - 2005-10-27 1:28 PM Racing and training are a lifestyle, so how do you separate lifestyle expenses from racing expenses? Thank you Bear...after thinking about this subject I REALLY needed that little bit of sanity. We are in the "plastic" category, and whenever I think about it my stomach knots up. so I try not to think about it. Thankfully we have pretty much all of our gear now....only a trainer and/or rollers left on the list. And we have already decided to make it all last until I'm out of school and working. And we're only thinking of one race that requires travel...and that is just a maybe, based on budget. Besides, what the hell....you go into debt, you die, and life insurance pays for it. The American way! Edited by CindyK 2005-10-30 12:28 AM |
2005-10-30 5:05 AM in reply to: #273392 |
Extreme Veteran 579 | Subject: RE: racing budget Around $2950 or so, most of it on a set of racing wheels. The rest on entry fees and a little more on a new helmet. This season I will hopefully be replacing my training bike, the trusty old (1989) Klein has around 50,000 plus miles on it and I do an inspection almost everytime I ride it now. Looking at a Soloists to go with the P-3 I got at the end of the 04 season. |
2005-10-30 8:05 AM in reply to: #273656 |
Champion 11641 Fairport, NY | Subject: RE: racing budget nuked - 2005-10-27 6:12 PMJust reading this thread gives me a sinking feeling ... I don't want to even start thinking about total expenses per season. I can only deduce that if the sport wasn't so addictive to justify the expense NO one would do it. I got the bike and the wetsuit last year, so those two big expenses are out of the way. I'm doing one expensive race that involves travel this year, but the travel was going to happen anyway. I figure the race and all incidental expenses will add US $500 to the trip. With the exception of that one race, I'll still spend less money on triathlon next year than I would on cigarettes if I was still smoking. I say it's money very well spent. |
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2005-10-30 10:17 AM in reply to: #273392 |
Regular 82 Chicago, IL | Subject: RE: racing budget Wow. You guys are crrrrazy! But even as a beginner this year I'm sure my expenses will scare me! I'm going to attempt to augment my current Trek bike to be more triathlon appropriate. I'm expecting that may cost me at least $500. (?) Clothing, shoes, race fees (no more than 2), and don't forget the gym membership (which I'd have anyway, I guess), will surely push me near $1000. And then I wonder why I don't have kids |
2005-10-30 10:44 AM in reply to: #273392 |
Elite 3020 Bay Area, CA | Subject: RE: racing budget I think that trying to break it out this way is sort've silly. Like the way they break out how much it costs to have kids. If you really looked at that, you'd never have a child. It's about choices and what you choose to do. If you have a kid, maybe your choice is to eat hamburger instead of steak, so you can afford the other things your kid needs. If you're a triathlete, maybe you choose to enter a race instead of going out to dinner and a movie. As someone else said, it's a lifestyle choice. Heck, I could (and do) spend the same amount in gas, entertainment, food, fees in say going to the beach, or going to the theater, or going snowboarding, as I do in going to a race. The point is, most everybody has some amount of money that they spend on their hobbies or entertainment. I just choose to spend some of mine on triathlons or other events. If I go up to Napa and spend the day on a supported bicycle ride vs. going up to Napa and spending some time shopping, wine tasting and eating - I can guarantee that the bicycle ride was the cheaper of the two options. Also, some of the money is money I'd spend anyway. So, do I include my master's swim fees of $55 a month in my triathlon expenses? Cause if I didn't do triathlons, I'd still swim. I don't have a gym membership right now, cause I dropped that expense in favor of race entry fees. I'd really like to be able to do strength training at a gym, but right now, I can't afford both. The only really big expense for triathlon I can think of is the bike. Everything else can be worked around and/or used for multiple purposes. Yeah, if you've got the funds, getting all the really nice expensive stuff is great, but it's not NECESSARY. I mean, the athletic clothing you can buy at an off-price retailer (like Ross, Marshalls, or heck, even ebay) is just as good as the stuff that you buy at the sports store. |
2005-10-30 1:26 PM in reply to: #273392 |
Member 391 Wenonah, NJ | Subject: RE: racing budget Have to agree with cadreamer. If my hobby wasn't triathlon, which is somewhat expensive, I would have another hobby which would also have some cost to it. I'm not a golfer but I asked my father-in-law what he spends per season of golf...his golf expenses dwarf my triathlon expenses. My son and I ride dirt bikes...I spend about $2000 per year on fees, repair, gear, etc...My old neighbor was really into fishing. I bet between equipment, bait, boating expenses and gas hs expenses are right in line with mine. I'm just glad I have a hobby that allows me to compete, stay in shape, has a social element and my family enjoys. |
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