Saturday, January 3, 2015

It's Pay Day!


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
                                               $561.50
+ PR bonuses ($5 each)             40.00
subtotal                                  $601.50

Looks good so far, right?  Now I have to deduct racing fees and babysitting.  Ugh.

2014 racing fees:   $235
+ babysitting          $200
                              $435

Last bit of math, Peeps.  Stay with me here.

2014 miles:     $601.50
-fees          :     $435.00
Total:               $166.50

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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