My wife and I had a “discussion” last night about my driving up to Penticton in August to sign up for IMC 2010. She is of the mindset that during these tough times maybe I shouldn’t spend the $2-$2.5K that I would spend on IMC (registration, lodging, food, gas, etc…) and I am of the mindset that right now is exactly when people should be out spending what they can to help stimulate the economy any way they can. Besides I want to do IMC again!
I know neither of us is right or wrong, but what do you all think? I know the unfortunate souls that have lost jobs recently are probably not in line to sign up for any races, but for those that are still employed (thankfully!) are you backing off your race plans compared to maybe what you’d do if this economic downturn weren’t happening?
Going through a similar dilemma and I am siding with her. The new bike is on hold, the coaching may have to be suspended, races only local and probably much more run training rather than the masters fees, bike maintenance, etc. Plus far more opportunities to race running races locally.
Its tough, but I am taking a substantial hit to my income with the loss of my bonus and my stock compensation basically worthless, in fact worth less than nothing when you factor in the income tax I paid on my stock awards.
I admire your interest in spending money to spur the economy, but doen’t your argument fall apart when you are giving that money to the Canadian economy?
My wife and I also had these discussions. I’m doing Ironman AZ and Florida 70.3 this year and live in CT. Its expensive and yes I’m helping the economy. If your planning for the costs and have the savings “in case”, keep going. However, as noted in the last post, I’m not sure Canada is the right place to go to help our economy, but if your wife buy’s it. Go for it.
Hubby and I - both triathletes - ended up taking a scapel to our racing plans this year. And truthfully, we don’t spend tons of $$$ racing to begin with. Still employed and still make good money, but we’d rather sock more money under our mattress then drop it on a race. Employment in this economy is not a garuntee and we’d rather have extra cash on hand if needed for COBRA or other potential emergencies.
I am not even sure what ‘our’ economy means anymore. Essentially Canada and the US are the same economy. We have the greatest amount of trade between any two nations in the world. I think the North American economy is also somewhat regional without regards to the border. Vancouver and Seattle have a lot in common as do Windsor and Detroit. In contrast, the two Canadian and American cities have less in common with each other than their closer foreign neighbours.
I think trade has benefited both countries and if we start to build barriers it will ultimately lower both our standards of living.
And the economic stimulus links are very real. My own anecdote… my inlaws live in Penticton and are business owners there. This year, they are taking us to Hawaii for a vacation. If their business was not doing well, we wouldn’t be going.
I think spending habits should be in direct relation to one’s income. If you work a secure job or have a secure income, and can afford to spend whatever IMC would cost you, then why should the state of any economy concern you?
driving up to Penticton in August to sign up for IMC 2010
I think there is a good chance you might be able to sign up online. If the economy stinks in August I think a lot less people are going to sign up for IM next year.
If you look at what happens with CdA and LP I think you will get a good idea of whether you even have to make the drive.
As for the actual event in 2010 generall the economy is predicted to start to turnaround by the end of 2009 and if that is true by the time gun goes off for IMC 2010 everything will look much rosier.
Just look at this past year? They opened up IMC slots online twice after the race.
I am not sure I buy the rationalization that doing what you plan to do helps the economy. You know in your hear that spending that money to go register for IMC probably isn’t the best use of that money.
I’ve also chopped down my race schedule this year and have already DNS’ed the Goofy Challenge due to tighter times. I’m doing less races, but more long distance races (5 1/2 IM’s and one IM), plus the Triple T. I’d usually do about 15 races of varying distances in a season.
I am of the mindset that right now is exactly when people should be out spending what they can to help stimulate the economy any way they can.
It’s true. In any economic down-turn or recession, their is the real impact and then their is the psychological impact. Regarding the latter, with the constant stream of bad a grim news every day in the media, even people who are well-off and impacted minimally, or not at all, reflexively pull back on their spending on all manner of things, further escalating the spiral down-wards. This deepens and lengthens the recession.
I can’t say that I’m really making any changes. We didn’t really live beyond our means to include Triathlon and just continue to be smart about race choices.
We are saving up in case I get to the big island and if I don’t, then that’s a good end of the year vacation. But no matter what, it should be a joint decision. Plus we incorporate a race into a vacation. Who doesn’t want to hang out at Lubbock?
I haven’t changed my plans b/c of the economy because I’m cheap to begin with - ride/race with a 9 yr old bike, don’t race alot (2-3 tri’s/season, I’ll stay with a friend for my only out of town race), no formal coaches but talk with friends that are coaches. Net, only a small portion of the budget goes towards this stuff. I love the training and that’s why I do this stuff. The races merely help bring some better organization to the training.
The changing economy has not affected my race participation. The rising cost of triathlons, on the other hand, most definitely has. I’m cheap, and the going rates of even local triathlons are more than I’m willing to shell out for.
I’m in for IMC this summer, so I’ll do a small, inexpensive half to get ready. I may also do one sprint/Olympic along the way, but that’ll be it for tris.
In fairness, part of my cutback has to do with the increased training. When in preparation for an IM, my preference is to race less, train more. God knows I need all the training I can get…
Before I get into IM training in Feb/March, I will run a fair number of road races, and afterwards I’ll do a few more, because those prices have remained fairly steady.
IMC is a wonderful experience - I’ve done it twice, and would like to do it again some time - but isn’t there a race closer to home that will also have the fun and ballyhoo?
Having said that, there is no reason to curtail your spending in a recession unless you seriously think your job or financial security is in danger on an individual basis, or if you’re subject to a lot of peer pressure from all the other survivalists (joke). Though precipitated by a - relatively - few greedy individuals, boards etc., and some unfortunate aspects of financial systems in general, the current economic crisis is largely psychosocial, not helped by lurid, irresponsible headlines i.e. it’s a long time since Nortel was a "giant’ corporation, so its financial troubles ought to have less impact ; and if Microsoft had a sense of responsibility commensurate with its power, they would find ways to use the 5000 people they’re about to lay off, and a more diplomatic way of easing out of market predictions. I’m just sayin’. j
My wife and I both race, and had we not signed up for IM and 70.3 races early, we would not be doing mdot branded races this year. We will not be racing IM in 2010. We will look into some non mdot races to see if there are cost savings. I’ve heard really good things about chesseyman
your going to canada to pay for a race will do nothing to help stimulate the economy. Like others have said, if you can afford it without it being a burden on you guys, than do it. If it will cause a burden, do another 140.6 race. Why no do Beach2Battleship and spend half as much and still get the fun of the race.
Again, spending money on a race that is private will not help create more jobs out there.
Companies that are the basement are there for a reason-it has been a problem long before now. We are just seeing the results of those problems.
I just took a big financial hit and will be doing local races only except for one this year. If I can’t drive to it, I won’t do it, for all the races leading up to that one.
I had planned on going up to Penticton to watch IMC but I’m already headed up for UMC so two trips won’t happen this year.
I have cut a lot of things from my monthlies to make room for some other things I feel passionate about. Whatever I put my money towards I want to feel really good about. All the movie channels on TV aren’t necessary but running shoes and clothes are.
If IMC is important to you, go. If it isn’t critical you do it in 2010, skip it this year and sign up 2011 if you can’t sign up online this year.
I am of the mindset that right now is exactly when people should be out spending what they can to help stimulate the economy any way they can.
It’s true. In any economic down-turn or recession, their is the real impact and then their is the psychological impact. Regarding the latter, with the constant stream of bad a grim news every day in the media, even people who are well-off and impacted minimally, or not at all, reflexively pull back on their spending on all manner of things, further escalating the spiral down-wards. This deepens and lengthens the recession.