3 financial tools for endurance athletes that have big race fees

Have you ever noticed that entrance fees to races are not cheap?

If you ever do an Ironman branded event, you have to plan to spend a LOT of money. At minimum, it’s $600 US for just the race fee. Not to mention the travel expenses if you plan to travel away from your home town to compete. I have a friend who likes to run marathons all over the United States. (Hi Doug!) I can only imagine what his athletic budget looks like!

I grew up in a family with a lot of financial issues, also known as BIG challenges. I’ve spent a lot of time with wise guides sifting through my money issues. This process has helped me determine what is mine and what belongs to previous generations. It hasn’t been easy to sort all of this out. Through it all, I identify as an athlete, and no matter what, I make sure a portion of my money goes to my athletic and fitness endeavors.

Here for you are three financial resources I recommend.

Resource #1: Ally.com is an online banking system I greatly appreciate. I currently have three savings accounts set up at Ally. I have an emergency savings account, a travel account and a taxes account. Before the end of 2018, I will additionally set up an athletic savings account, specifically for race entry fees. The current interest rate at Ally is 1.85%, which is pretty darn good for a savings account!

Resource #2: The book All Your Worth: The Ultimate Lifetime Money Plan by Elizabeth Warren and Amelia Warren Tyagi. This book was recommended to me by a dear friend and colleague and I found it INCREDIBLY affirming. As a result of reading this book, every single month, I am successfully saving 20% of my moderate income. In addition, the book teaches a very do-able way to create and keep a budget.

Resource #3: The Art of Money with Bari Tessler podcast. My long-time friend Joanie, who I just saw in Colorado, suggested Bari to me. WOW! I’ve been binge listening to her podcast. She is amazingly wise and insightful. To top it off, Bari is on the cover of my newest favorite magazine called Mindful, Healthy Mind, Healthy Life. Very cool synchronicity!!

Plus, when you give Bari your email to join her list, you get access to a 7-day mini course. I’m on day 5 and I’m blown away at her insight into the 3 phases of Deep Money Work. As an insight, they are: Money Healing, Money Practices and Money Maps. Please, be enticed and connect with Bari!

Thanks for reading.

What financial tools do YOU use in your athletic life?

I love hearing and learning from you!

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2 thoughts on “3 financial tools for endurance athletes that have big race fees

  1. I don’t have any financial tools to share, although I do thank you for sharing yours. In Resource #2 is that Senator Elizabeth Warren or just a lovely person who shares her name?
    I’m curious to find out also what all those fees are going to fund.

    • Christin,
      Yes, it is THE Elizabeth Warren, the senator! She’s a very wise woman. And it was Linda Brandt who suggested the book to me!! Fees are a killer. Thanks for your comment! And keep biking! You inspire me!
      Mari

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