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The Economy and Triathlon

Trisport's picture
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started by Trisport on May 19, 2008

Generally speaking, a lof people are struggling these days pay-check to pay-check with economic issues surrounding us all. Thankfully I'm not one of them, however as someone right out of school I get a budget pinch each month from my student loan payments. So I think I can relate a bit to a lot of struggling people.

My question is, how do most people justify investing in such a costly sport like Triathlons. For me it's how I stay healthy and satisfy my competitive edge as a former all-american swimmer in high school and college rower. It's also an excellent character builder personally and professionally.

I've invested over $1750 already this year in gear upgrades and one entry fee. I plan on entering more races over the summer. This isn't really flying with the fiancee, and I can sort of understand as we try to budget/plan for wedding stuff.

Nonetheless, I fully plan on qualifying for National Age group champs in Portland at the Philly Tri, and hopefully World's. How do I justify investing in these things when the return is purely personal and not economical at all...or is it? Is there help out there? Are there resources to tap into?

xc800runner's picture
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xc800runner posted 15 weeks ago.

You could always take home prize money. Didn't Macca make, like, 600-700k last year?

TryScott's picture
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TryScott posted 15 weeks ago.

I don't personally know anyone that is making less money this year than then did last year, or 5 years ago. In fact, if it wasn't for the media, I'd have no way of knowing that the economy is bad right now.

Last year I bought a bike and did 2 races. I think around $3,000 was spent on triathlons. This year I joined a gym, paid for 6 triathlons, 1 marathon, and a few 5k's so far. I'll probably spend about $4,000 on triathlons.

Greg Bennett got a $300,000 bonus for winning all 5 LifeTime Fitness triathlons in 2007. That's enough to help my family not notice enconomy woes.

FlashRedGLS1.8T's picture
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FlashRedGLS1.8T posted 15 weeks ago.

I'm still on the cheap. I've stayed away from buying a bike...so far.

fastdog5's picture
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fastdog5 posted 15 weeks ago.

TryScott wrote:
I don't personally know anyone that is making less money this year than then did last year, or 5 years ago. In fact, if it wasn't for the media, I'd have no way of knowing that the economy is bad right now.

No, but do you know anyone who is paying the same price for food, gasoline, or utilities that they paid last year, or 5 years ago? That's the issue - real incomes are going down. Inflation measures typically exclude food and gas prices, which way understates the impact to the average person.

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diva_mom posted 15 weeks ago.

How do I justify the expense? I'm a big girl, with a big girl job.

There's no question it's a gear intensive sport, but what level you participate is up to you. Skip the wetsuit, ride a Huffy, and run bare foot.

Don't be so easy on yourself 'cause this one might be all that you have left

mgetting's picture
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mgetting posted 15 weeks ago.

In my opinion, the value of the race experience greatly outways the price of entrance fees, equipment, etc. I'd rather be more conservative on other purchases then cut back on triathlons.

Nutty's picture
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Nutty posted 15 weeks ago.

I justify it thus:

When i do tri, i dont smoke cigarettes.

When i do tri, i dont get drunk 5-7 nights a week.

Ignoring the future savings in medical bills or possible drunk driving tickets, triathlon is still cheaper than my old habits were.

-Alan

My fancy new blogitty blog.
http://therunningfridge.blogspot.com/

thesonicson's picture
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thesonicson posted 15 weeks ago.

I agree fastdog, I bought 3 freakin apples at the grocery store, not Wholefoods or similar, and it cost me $5.18. And they weren't organic either. I can't believe I'm paying amost $2 an apple! At least banana's are still relatively cheap to consume.

I'm in the construction business and with gas prices now at $4, I'm trying to figure a way to haul a trucks worth of tools on my tri bike. Any suggestions?

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brianbart posted 15 weeks ago.

Unfortunately for me it is going to result in less events entered. Last weekend was a great example: option A was spending $95 on an entry fee for a sprint triathlon, get to race and see where I am in my training. Option B was to put in many hours on the bike, follow it with a run and do it with a buddy and push each other the whole way. Option B won out, purely because the cost of always entering events is just too expensive. At least our training is free, think of golfers who must pay every time they work on their game.

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kylie posted 15 weeks ago.

It's all about priorities -- I'm also doing the whole wedding thing this year, so we have skipped a couple of the races we were considering. But we both have big kid jobs (and no kids) and now have our dream bikes (road, tri, and mtn). It's our entertainment budget -- we don't tend to go out to clubs, or bars, or lots of movies or shows or plays. We go for long rides on our bikes, and our travel is to great places to ride or run, or to visit family.

Miles of Life --- Powered by MarkyV

Jay's picture
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Jay posted 15 weeks ago.

i used to race MX, so i find this whole thinga bit cheaper. i also play with hot rods and that gets expensive as well.

deepbluex's picture
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deepbluex posted 15 weeks ago.

Triathlon has a high entry cost into the sport - when you buy the wetsuit and the bike. The rest is not so bad. I buy running shoes as often as I used to. Bike tires last fairly long. I only replace a few things a year and it isn't so expensive anymore. The race fees keep going up but I only enter the few I really enjoy and train the rest of the time.

Like Nutty says - the cost of this sport is well worth it if it keeps me healthy and off of things like insulin, heart medicine, and other age, obesity, and unhealthy-lifestyle related ailments. Nothing is more costly than poor health.

burnman's picture
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burnman posted 15 weeks ago.

Unless you're choosing between tri and feeding your family, don't bother justifying the expenses. If you want to do it and you have the money to do it, then make it happen. The alternative is to pinch pennies and save a few bucks now so that when you're old (and incapable of enjoying yourself) you can afford the slightly nicer nursing home - you know, the one where the staff beats you, but at least they don't steal your belongings.

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FlashRedGLS1.8T posted 15 weeks ago.

The cost of the sport is worth it if you think it's worth it. And because of that you can spend what you want or are comfortable spending on it. Do cheaper races, do expensive races, buy an expensive bike, buy a used $25 bike....it's all up to you.

I spend what I'm comfortable with spending. I buy new running shoes, probably too often but save $ by riding my 18 year old, still worthy, bike. There is no rule that you have to get a $1800 tri-bike your first year....or ever. I've yet to get a wetsuit and only have 1 pair of tri shorts. This has not stopped me from placing in my age group in duathlons and triathlons.

Just do it for the right reasons and have fun!

In regards to wages not decreasing, while that's probably true, the cost of living has sky rocketed past wages significantly. The net effect for most of the US families is that their wages have decreased.

PrinceofClydes's picture
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PrinceofClydes posted 15 weeks ago.

See, now you guys with the "big kid" incomes fit that sexy demographic of triathletes that the WTC race owners like Graham Fraser are so proud to tout to prospective 7 figure sponsors!

Triathlon is a sport for the socio-economic elite.

For my own case,
Until this year I swam in a borrowed wetsuit, rode a bike re-cycled from the city dump and on runners that had seen 3 or 4 marathons over as many years, slept in my car for four days to do IMC on borrowed money and a little sponsorship from some local businesses.
My 27" wheels were salvaged off a $10 garage sale bike.

This year of course I am going to ride my new Cervélo P2SL ( a generous gift from the manufacturer) built up with spare parts from my friends here at Trifuel (Kylie, Kkocan and Catwood) but I'll still be sleeping in the car come August.

I reckon my $550 IMC race fee is an investment in reduced health care costs, reduced entertainment expenses and in reducing my footprint on the planet (I haven't fired up the car since last August.)

PoC

"Pain doesn't last, chicks dig scars, glory is forever!"
- Shane Falco.

beads1985's picture
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beads1985 posted 15 weeks ago.

Like many have stated, triathlon is my vice too.
Instead of going out to happy hour, I am doing SBR.
It does beat all the health care costs I would incur if I led a different lifestyle.

I am doing less races, and I am not traveling as far for the events I register for.
I have my bike and I will just have to maintain it. Same with my wetsuit.
Running shoes I have to replace but I search for deals.

I am below the income bracket average that Graham Fraser touts as well.
I just have to plan better.

''Nothing to it, but to do it''
http://beads1985.trifuel.net/

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stewarba posted 15 weeks ago.

burnman wrote:
The alternative is to pinch pennies and save a few bucks now so that when you're old (and incapable of enjoying yourself) you can afford the slightly nicer nursing home - you know, the one where the staff beats you, but at least they don't steal your belongings.

From Happy Gilmore - How about a nice warm glass of shut the hell up Grandma!

I just wish I had realized when I was younger that when you have nothing to lose that you really have it all. I would have made a few different decisions.

Goals in writing are dreams with deadlines – Brian Tracy

2008 Sprint Tri A race goals
S: 500m in 10:00 – FS Stroke only
B: 22mph avg over course
R: 5K <= 25:00
Place top 50% for my age group

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danpatgal posted 15 weeks ago.

I love this question ... sort of hate it too. It's a continual struggle for me, justifying involvement in a sport with little practical application in life. Though, the comments about it keeping one out of other trouble, giving one a healthy competition for sport, comraderie, and time in nature (more so, at least, than poker) are good ones. I am a runner first, so having to upgrade the bike and get a wetsuit were kind of hard. Now that I have them, I also notice entry fees 3-4 times a running race. Between running and triathlons I did 10 races in the past three years. But I know other great athletes that just run for the fun of it, do maybe one race a year, and that's it. So, I think if you don't get obsessive about it (and it's up to you to determine obsession), you're probably doing a good thing for yourself. But, at some point you must also consider being involved with your community and using your resources and talents for a larger goal than completing three events, transitions too, in the fastest possible time. It is a luxury. A wonderful luxury.

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mdittfurth posted 15 weeks ago.

Thoreau wrote: "Man is rich in proportion to number of things he can afford to leave alone." And like so many have stated they "leave alone" lots of things because of the lifestyle triathlon evokes. I bought a sleeveless wetsuit this year with my "beer money." I don't drink. My health is good and with the money I don't spend on doctors and medications I can afford an entry fee or two. Plus the gas I could have been using going to the doctor I can use to go to triathlons. And the cigarettes I don't smoke, that money can go toward equipment.
I am 65 and living on a fixed income so inflated prices hit hard here but nevertheless, triathlons are still cheaper than the nursing home I could be in. But, central to it all, triathlons give me that childlike passion and purpose to get out there every day and stay young and fit. What else are we spending money on that could be worth more at any age..

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FlashRedGLS1.8T posted 15 weeks ago.

mdittfurth wrote:
But, central to it all, triathlons give me that childlike passion and purpose to get out there every day and stay young and fit.

Best sentence I've read today!

gfd's picture
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gfd posted 15 weeks ago.

Spent a few hours last night at a viewing for a friend's mom who died way to young from lung cancer. Nothing like it for putting life back in perspective. "I was just complaining about what trivial thing."

Life is good, it is just currently more expensive. We will make adjustments and hopefully come to appreciate what we have and do to a higher degree. Endurance sports enhance my life and make me feel like I am getting everything I can get out of my time here.

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PrinceofClydes posted 15 weeks ago.

Trisport wrote:

My question is, how do most people justify investing in such a costly sport like Triathlons.
..

Oh yeah, I forgot, it's the only legal way I know of getting to chase hot chicks in spandex.

:D

PoC

"Pain doesn't last, chicks dig scars, glory is forever!"
- Shane Falco.

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zcowgirl3 posted 15 weeks ago.

I'm 25 years old, just moved out on my own finally with my 4 yeard old and let me tell you all about budgeting!

Pretty much what I am going to say sums up with what everyone is saying is that sacrfices have to be made, budgets have to reconstructed (for some) but if this sport is something you enjoy there will be ways to get around this "wonderful" economy. Saving gas, ride your bike to work (if able to) or walk (if near by). Eat more at home, limit going out (just buy something at the store and stay at home) and other things that can wait a bit.

I'm doing a sprint up in PA this weekend and told my buddy I couldn't make it due to gas (I drive an F-150) and the entry being $45. I haven't even gotten this month's bills! All I care is I have it for the rent-a plus big time. He's helping me w/ the entry fee, I have enough (thankfully) to make it up to PA. Plus it's only an hour from Cleveland so that isn't to shabby either, but it's like the excuse is now, "I can't afford it." Anyone agree?

Where there is a will, there's a way. Right?

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GogglesPizanto posted 15 weeks ago.

One thing that has helped me is to try to spread the cost of Triathlon throughout the year. I live in Minnesota where the season is shorter than other places, so I think that helps. In Winter I usually buy any new equipment I need or make upgrades. In Spring I register and pay for my races. Summer my budget is more for race day expenses. And in the Fall I try to start saving up for next season.

In the off season I'll also work more to make a few extra bucks.

Googles, Out.

The Battle does not always go to the stronger or faster man,
Because sooner or later the man that wins
Is the man that thinks he can.

deedlit's picture
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deedlit posted 15 weeks ago.

Budgeting is all about making decisions. Some people call these decisions sacrifices. I prefer to call them choices. :o)

[CENTER]------------------------------------------------------------------
Caroline
http://aquabike.blogspot.com/

zcowgirl3's picture
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zcowgirl3 posted 15 weeks ago.

If you think about it though...it is sacrifices. I've made sacrfices for friends/family who needed something out of me when I've made plans. I've made choices on saving money for getting something for my daughter more than going and buying things myself. It goes both ways I believe. It is how you define it.

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nyfan21 posted 15 weeks ago.

It's just money; I don't work all week/year to sit on the couch because I don't want to spend a few bucks. You won't be able to do triathlons once you hit a certain age but the money will always be there.
-Mat

zcowgirl3's picture
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zcowgirl3 posted 15 weeks ago.

True. Def. agree with that one.

deepbluex's picture
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deepbluex posted 15 weeks ago.

nyfan - good point. Someday, we will be old and our memories of riding a bike into the ground and wearing our tri shorts to shreds will be more precious than the monetary value saved by not having purchased that bike. The entry fee and gas money and hotel costs to run that race will be offset by the greater person forged by the experience.

nyfan21's picture
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nyfan21 posted 15 weeks ago.

Yeah I am not going to stop until I do an Ironman. I am looking at 2009; i am doing a Half this year. But my real goal is the Ironman, becuase when I look back on my life I want to be able to say I did something that less than 1% of the population has done. And money just won't stop me..

gfd's picture
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gfd posted 15 weeks ago.

Then a few weeks after you do an Ironman you will start thinking how cool it would be to do another one.

nyfan21's picture
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nyfan21 posted 15 weeks ago.

Yeah I need to get through this Half Ironman first.....lol
What was your taper like for the Half?

gfd's picture
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gfd posted 15 weeks ago.

nyfan21 wrote:

What was your taper like for the Half?

I followed the half plan available on Trifuel: http://www.trifuel.com/triathlon-training/Half-Ironman-Training.php

Good plan created by Tribro's brother. I added some to the long bike rides and long runs.

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Donna posted 14 weeks ago.

I've definitely struggled with this issue in the past and have posted about it as well. You know, its not only about buying the bike and race entry fees. I am training for my second Ironman and there are a lot of other expenses that people haven't mentioned-stuff that has probably become so much a part of our lifestyles, people didn't even think to mention it. I just spent $75 on a couple of boxes of clif shots and powerbar gels. I also consume many, many more calories a day than most women my size. The food crisis is hitting Ethopia hard and I'm sitting on my bike for 15 hours a week eating clif shots! (Please excuse my negativity-this is the end of a 4 week build and I get really cranky!-But it's still all true!)

Set goals...... but be here now. Enjoy the ride to the finish line.

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Anton posted 14 weeks ago.

I've been watching this thread for the last few days and have just been mulling over some of what folks have said.
Just some random thoughts on the subject:
* It's your money. Spend it on what you want.
* There are millions of people IN THIS COUNTRY who can't afford the basic necessities.
* If you ignore that fact, and do nothing to help, I feel sorry for you.
* The average household income for triathletes is $120,000.
The median individual income for triathletes is $96,000 .
55% of triathletes have a median income of over $100,000.
( source: Katalist Multisport Management, Ironman Lake Placid 2007 Fact sheet
had similar numbers)
* The average HOUSEHOLD income in the US in 2006 was $46,000 (source: US Census office)
* The average income in Bangaldesh is $1.25 a day. (source: Washington Post)
* While Triathlon can make your life seem worthwhile, so can just plain old running
at a start up cost of less than $150.
* Don't complain about the cost of triathlon while mom and dad are footing most of your bills.
If you are a single parent with kids you can complain all you want, about anything.
If you're double income, no kids...no whining.
If your double income with kids and still able to do tri's...you have a well paying jobs.
* Been using the house as an ATM to afford this sport?...Yikes!
* Triathlon is expensive but a new set of Callaway irons will set you back $1,200, not to mention
the woods, putter, bag, balls and green fees.
* Bring on the $5 a gallon or more gas. That way maybe we'll get our heads out of our oil
dependant back sides and do something about mass transit, bike lanes and alternative energy.
( yeah, it hits me too, my gasoline bill has tripled in the last year)
* car pool to races.
* Triathlon won't be cool forever. It will be cheaper when it's not.
* If people complained about costs instead of just paying up, because "there might be a chance
I'll go to Kona." or because you feel some need to be ranked, the big corporate RD's might
listen...maybe. Don't know till you try.
* give back to others, always, even in this sport.
* You can get a group of friends together and set up an event and have a great time...for free.
* We are all just a spot of bad luck away from being on the street.
* Triathlon is the Polo of the current era.

"What would life be if we had no courage to attempt anything?" - Vincent Van Gogh
My Blog: http://anton.trifuel.net

PrinceofClydes's picture
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PrinceofClydes posted 14 weeks ago.

Right on, Anton.
I concur wholeheartedly.

PoC

"Pain doesn't last, chicks dig scars, glory is forever!"
- Shane Falco.