Categorized | Blog, Reflections

Endurance Racing/Lifestyle – Financial Budgeting Top 15 Expenses

Posted on 01 December 2015

As 2015 comes to close, have you considered what you actually spent on endurance sports this year?   Many individuals suggest, “I would much rather spend all the money on a passion that is healthy than sitting in the bar all daylong or other bad habits” but have you actually done a recap of what you spent while living the athletic lifestyle.    If you decide to tally the total number, you may consider building a target sponsorship plan of products and cash for the upcoming year.

In my upcoming book about the DECA Ironman, I will include a detail budget analysis to be used as a guide for the major expense planning required for the race.

As the races get longer (in most cases) the overall costs will be higher.  However, the cost per hour of actual racing actually decreases.  For example a marathon that costs $150, assuming 4-hour race time the cost per hour of racing is $37.50.  A DECA or 100 mile running race is about $3 an hour.

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Top 15 Expenses

1. Race Fees – What’s your cost per hour for fun?!   So an Ironman is around $60 – $70 per hour!

2.  License Fees

3. Hotel Expenses – can you tent/camp at a few races next year?

4. Nutrition – This is the big one – Food expense

Supplements – race nutrition products that are separate from race provided foods

5. Bike – for athletes using bikes in racing this is a big area – what is actually spent on tires, bike shop mechanics, gadgets, etc.

6. Shoes – For the runners, how many pairs

7. Clothing

8. Travel – Gas, flight expenses

9. Race Expenses for breakfasts, lunches, and dinners, snacks

10. Coaching Services – if applicable

11. Travel expenses if family is involved

12. Expo’s budget – Yes we all spend money at expos

13. Race Checklist expenses – if you have a race checklist including everything you have to take to an event, look at the items that you have to replace regularly

14. Lost incomes – This is anoften-overlooked area, if you are self-employed what income loss will occur from training and racing.

15. Crew Expenses – if applicable

 

As you plan your 2016-year – it might be helpful to plan out your healthy lifestyle budget.   For many, it can be a significant family expense category, but a much better way to spend money than so many other “bad” habits!

Please feel free to contact me if you have questions on how to build an athlete sponsorship plan for 2016, waynekurtz@o1challenge.com

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