My budget: 37 year old male, married, teacher

Total budget for year $1500

$1300 - 5 races: 2 1/2 IM, 3 Olympic distance

That leaves $200 for equipment - I have all the big stuff, I may need tires, tubes, etc.

I'm sure this is nothing compared to some on the borad. I didn't race at all this season because of the cost.

Hey dude...here's my .02...

1. What is a reasonable budget for a Tri season? It depends on what your goals are...my initial plan for peaking at IM Moo was to start with a couple Olys, then do a couple HIMs, and then the IM, so I think it depends on what race you want to do really well at, and then structure your season around that.


2. I want a Tri bike. Assuming that I buy one (wether I "need" it or not), what kind of budget should I shoot for? I know an entry level bike is going to run $1,500.00 and the next jump goes to about $2,500.00 for a significant quality upgrade, but where should I be? Assume that I have money to spend in this area at the expense of other things in my life I am willing to sacrifice. For an entry level bike, IMO $2K will buy you a very nice bike (like a P2K, or a Felt S22) that will last you several seasons, and has a decent enough frame that you can later upgrade the components on if you wish.

3. Right now I only ride solo for training. Should I sell my road bike to supplement my next bike, or will I regret this down the road? I think you would regret it. I like having both a road bike and a tri bike. Sometimes its fun to ride my road bike with its better handling, etc, and its always nice to have in case you do a group ride. I really don't like trying to ride in a group on my P2K, but its a blast on my R2.5. I was training almost exclusively solo, and then down here in Florida I found a cool group to ride with...was really happy I had my road bike with me.

Spot

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Taco cat spelled backwards is....taco cat.

I'm in the same boat as you. I make a reasonable amount of money, but not enough that I don't have to consider my purchases carefully.

For the upcoming year, my budget included the following (in Canadian $s):

1 or 2 sprint races - $100

2 1/2 IMs - $400

IMC (if I qualify, but if I don't, then it'll go towards 2007) - $575

Monthly swim passes - around $170

Wetsuit - around $400

Bike rack for car - around $500

Varies sundries/supplies - around $300

So a total around $2500 (yikes, didn't realize that till now!). Oh well, only around $200 per month!

After this year, if I do everything I plan on doing, I'll likely take 2007 off and put all the money I would put towards all the events, etc. into a decent tri bike.

I'd also recommend holding on to the road bike. For a tri bike, you can get a really good used one out of the classifieds for probably around your $1500 goal.

Triathlon's not cheap. Don't let anyone tell you otherwise!

Chris

Set up the rest of your budget first, or the whole house of cards may collapse.

I set mine up starting from Larry Burkett's budget planner (www.crown.org and go to the "Tools" section), and then manipulating the percentages to suit my life. And then I stick to it. Sometimes it can be frustrating when you want something, but the budget says wait. But the good part of it is that I have not incurred ANY debt as a result. And that, my friend, is worth a whole lot of peace of mind.

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Some are born to move the world to live their fantasies...

https://triomultisport.com/
http://www.mjolnircycles.com/

Where do you guys think the price break between a good tri bike and just bling is? I want to invest in a bike that I will not feel like I need to up grade, but I also don't want to pay too much of a premium for bling factor.

I guess what I am trying to say - is the Litespeed Sabre '06 worth the $$ or is it just a really cool bike that I want? It looks like it is going to be close to $4K once built up. Will it be that much better than a $2.5K rig?

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This is your life, and it's ending one minute at a time. - Fight Club
Industry Brat.

For the bike have you considered the second hand market. There are a lot of good deals on ebay. I've noticed used P2K's selling well under what a new one would cost for example.

Personally, I'd keep the road bike and get a second hand tri bike. It wouldn't hurt to join a roadie group and add this as part of your training.

Well, you will always pay a premium for a Ti frame, so in the case of a Litespeed Saber, I don't think you're paying for "bling", but for an outstanding, last-ya-forever frame. Will it be that much better than a $2-$2.5K rig? IMO, no. But, that being said, you could make that sort of argument until the cows come home....is a P2K that much better than a Dual? Probably not. The biggest difference in speed is proper fit and the engine. So, get the bike you want as long its a good fit, even if its just partly due to "cool" factor.

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Taco cat spelled backwards is....taco cat.

I personally believe that the break line between quality upgrade and unnecessary bling is $2800 ... or the price you can find for a brand new, ultegra equipped good 'ol painted aluminum p3. any money spent over this amount is for the gold teeth, spinners, and flash ...

Was that $175 for the whole season of swimming, or just one month? You only included it once, so if that's for the whole season that's a wicked deal. Otherwise you may want to check the math... it just became more expensive :)

Anyway, I agree, Triathlons are expensive. The equipment isn't cheap, the gym/pool/coaching isn't cheap, and the travel/entrie fees aren't cheap. I don't want to add up everything I spent this season... it'd probably be cheaper to have a drinking problem.

Travel to races and health club memberships add up quickly. If you are not single they add up doubly quickly.

Let's imagine I am going to do Ironman florida in a few weeks. Forget about entry fees.

2 round trip tickets to florida - $600
Rental car for five days $300
4 nights at top of the gulf - $350
eating out while there for an average of $30 per meal for you and wife - $450
Bike transport there and back - $100
2 new tubes - $20 (we won't assume new tires)
Nutrition for race - $10
chair for wife to sit on, whatever you forgot, trinkets, money for whatever touris attraction you went to $200.

That's $1930 just for the one race, you may not be doing this but don't underestimate it either.

Don't forget the $800 for the gym membership.

Honestly I budget $4000 a year and have a separate account that gets direct deposit. *Everything* tri related gets paid for from there. Every book, every clinic, gas to the events, travel, memberships etc. It comes out about right.

...it'd probably be cheaper to have a drinking problem.

Worse is when you have both...

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This is your life, and it's ending one minute at a time. - Fight Club
Industry Brat.

I'm about the same as that.

3 Races = ~$600 fees, $1200 lodging (for myself, bride, and children ... last year we went a day early, learned our lesson, now we'll stay a day later instead), ~$100 or so for travel.

My parents went to the race (and will continue to do so), and my dad picked up the lodging tab. Next year we'll split it just to be fair .. so that gives me a few hundred to spend.

I'll need new running shoes, cycling shoes w/ pedals, new aero bars, and bargain basement bike. I may get new tri short and top.

I'll pick up EvoRunning DVD for both my wife and I, since she's doing a 1/2 mary from scratch.

I'm trying to limit the "fluff" I need, b/c after doing it, racing is much more fun (and worthwhile) than having "extra cool stuff".

We're a double income family that does alright ... but there's plenty we're just not willing to spend (out of principle). Sure, we could spend double on anything, our vehicles for example ... and the vehicle is "still not a lambourghini" ... so what's the point?

We're pretty simple by choice.

I want the majority of my budget to go towards racing and a chance for the family to get together and out of town for a few days, without infringing on the actual "family vacation fund".

Turns out, much of the stuff "I really, really, need ... I really, really, just want it ... and could esily go without it."

At absolutely no time do I make any purchases on a credit card that is not my check card. You might as well give me a flamethrower in a straw village.

Honestly I budget $4000 a year and have a separate account that gets direct deposit. *Everything* tri related gets paid for from there. Every book, every clinic, gas to the events, travel, memberships etc. It comes out about right.

I'm e-mailing this to my wife right now (an accounting supervisor). We should be doing that. Great idea.

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-- Every morning brings opportunity;
Each evening offers judgement. --

Thanks for posting this, it seems like a good start point. Interesting to see the huge amount it notes for Auto, although it's probably fair. I spend a lot of money on travel (train & airline) around Europe, but it doesn't work out to much more than the amount listed for Auto in the Budget Calculator. This makes me feel a lot better and confirms that I am so happy to not own a car for the first time in my life (since age 17).

brider has it nailed...

"Set up the rest of your budget first..."

you may not be accepting of the source of the budgeting assistance he notes but there are plenty of others available if needed. you can't really set up valid numbers for a sport specific budget without incorporating it into your life budget.

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Train hard...race well.
www.jimmishler.com
"Jim, I happen to agree with you" DougStern

Debt, who has debt? Thankfully, all my debt is business related and not personal. ALL personal bills are piad off every month. Then you get the business bills. I shutter at the number of zero's added to the end of those monthly expenses.

My entire tri budget is cash!! No loans, No credit. I pay cash for everything. Credit sucks!!

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Paul

Very true. I didn't accept it as given -- I manipulated it to fit my life. But it's a good starting point, and can be an indicator if a certain part of your financial life is out of balance. The good part of it is that it DOES divide out the areas.

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Some are born to move the world to live their fantasies...

https://triomultisport.com/
http://www.mjolnircycles.com/

Personally for me I have no clue what I spend on Triathlon in total.

I know that after I got all the big ticket gear; wetsuit, bike etc... the biggest cash outlay was for entry fees and travel to races. Last year was the first year I traveled for races, went to Memphis and Phoenix. Memphis I drove so it was a little cheaper but still cost about 500 - 700 dollars for the weekend to include entry fees, hotel, gas, food etc. Phoenix was well over 1000 because airline tickets then the extra charges for the bike, rental car, etc... took that price tag up a bit.

I like the advise the brider gave in that build your budget for what you NEED first then add what you don't within comfort zones.

On the bike front... Keep the roadie if you want to buy a new TT bike there are plenty of choices out there. But I wouldn't advise going from racing on an entry level road bike to an entry level TT bike. Step up a bit to a bike that you'll want to ride for a few years or more, and can be worth upgrading. And if you're finishing as well as you say you have, you'll see the value in spending a little more money for a better bike.