Today is the day, Peeps, when I figure out how much money I will pay myself for running. What?
I got this idea from a blogger several years ago (I wish I had remembered her name so I could credit her!), and I like it for two reasons:
1. It helps me justify the money I spend on running.
2. It's a great incentive for putting in more miles.
How does Payday work? Let me show you.
First, keep track of your yearly miles using any tracker tool you like. I like Dailymile.com because I can embed the widget in my blog that shows my weekly, yearly, and total miles.
Next, keep track of your racing miles and PRs. Athlinks.com is a good source for this information.
Then, decide how much money you think your activities are worth. I decided that for each mile I run, I will pay myself $.50. For each racing mile, I'll pay $1.00. Every PR gets me a $5.00 bonus. To keep it fair, I have to subtract racing fees, including babysitting. I don't add up my racing gear, but I know some people do. Let's try it, shall we? Oh, before we do, you need to know that I am not a math whiz.
Let me know if I made any mistakes:
2014 miles: 1,039
-race miles: 84 (rounded from 83.8)
2014 miles: 955 x $.50 = $477.50
+race miles 84.00
+ PR bonuses ($5 each) 40.00
Looks good so far, right? Now I have to deduct racing fees and babysitting. Ugh.
2014 racing fees: $235
+ babysitting $200
Last bit of math, Peeps. Stay with me here.
2014 miles: $601.50
-fees : $435.00
Whew! We made it! You get an A+ for seeing me through all of these numbers!
Any year that I can break even, or even make money, is a good year for me! But wait, Stephani (you say), aren't you paying yourself with your own money?! How is that even worth it? Good question! The way I see it, I don't often credit myself with things I do successfully; more often, I dwell on areas where I fall short. This system forces me to see my successes and reward myself for them. It's the equivalent of putting a penny in a jar every time you say something nice or do a good deed. At the end of a year, you look at the pennies (even though they ultimately came from your pocket), and you see the progress.
You don't even really have to pay yourself; you could use gold stars, or you could just do the math as a point system. I put the money in a tiny savings account I have set aside for this purpose. When there is "enough" money there, I will use it to splurge on a vacation, maybe. A race-cation. Paris Marathon, I'm looking at you.
|This is EXACTLY how I will look running along the Seine!|
The point is this: reward yourself for what you have accomplished. Find a way to recognize and celebrate your success. You have worked hard, and you deserve it, Peeps.
Here's to earning more in 2015!
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