Runners spend nearly $1,800 a year on the sport; Here are five ways to spend a lot less

If you feel like joining the 50 million Americans who are runners, you might have the impression that the sport is basically free. You have a T-shirt, you have shorts, you have sneakers and out the door you go. Right?

Let Andrew Huynh disabuse you of that notion. The financial planner from Tolland, CT is an “avid” runner, and he wants you to know: Being a serious runner is most definitely not free.

“The costs can add up quickly once you actually get started,” says Huynh. “I’ve seen many people underestimate the investment before even registering for a race, including shoes, nutrition, recovery tools, gym memberships, and training gear.”

Total it all up, and the costs can get pretty eye-popping. According to one survey by the organization Running USA, runners spent an average of $1,748 in the previous year on the sport. 

Add in so-called ‘runcations’ – trips to marquee marathons around the world like London, Berlin or Tokyo – and your hobby can truly start to heat up your credit cards.

Since many runners right now are aiming towards races in the fall (longer distances typically take a few months of training), now is the perfect time to start planning things out. Some key advice, to get a handle on costs before they start to run away from you:

• Plan early, plan often. There are a host of reasons why preparing as early as possible will save you a significant amount of money. First, most races offer early discounts on entries, which ramp up over time as you get closer to the start date. Second, many races book hotel blocks for participants at special rates, which for popular events get booked up quickly. The same logic holds true for flights: The closer you get the higher prices will go, if you can find anything available at all.One tip: Some specialty operators, like Marathon Tours & Travel, offer package deals that include flights, hotels, and guaranteed entries into hard-to-get races.Just be careful of the classic runner’s habit of signing up for too many races, which is money down the drain if you don’t end up participating. Instead, be selective and realistic about how many you will undertake.Also, it’s wise to click on the insurance option that almost every race offers: Life happens, you get derailed by work or illness, or an injury makes it impossible to compete. With insurance, at least you know you’ll be financially covered.
• Don’t go crazy on apparel. The fancy brands of the world won’t want to hear this, but there’s no reason to go overboard on pricey athletic wear. You do need synthetic materials, especially socks – cotton chafes, as every runner knows – but the reality is that entries in most races come with giveaways, such as tops or shorts. As a result you can assemble a ‘free’ wardrobe in a pretty short order.
• One place to splurge: Shoes. You should absolutely not skimp on running shoes by buying used gear, even though it may be tempting to do so. The reasons are both performance and injury-related: Individual gaits require certain types of shoe, with particular cushioning. (You should ideally be filmed and analyzed on a treadmill, which they can do at many running specialty shops, or some stores also will analyze your patterns with a short jog and measurements). So if you’re buying a random shoe, which has already been worn down over time, you’re just asking for trouble.“Great shoes are the only true ongoing requirement, and you shouldn’t skimp on cost,” says Ralph Bender, a financial planner with Enduring Wealth Advisors in Temecula, Calif. “Rotate several pairs, log the miles, and use them for casual wear after retiring them; 400-500 miles is my running limit.”
• Use free apps. Sure, tech tools like GPS smartwatches look pretty darn cool. That’s why 12% of runners spent more than $400 in the previous year on tech gear, according to the Running USA survey.But do you really need one? The Garmin version picked in Runner’s World “Gear of the Year” feature, for instance, runs almost $1,000. Most runners don’t really need that level of functionality so consider apps you can install on your phone, like Runkeeper, Strava, or MapMyRun. Some even have a coaching element, like Nike Run Club, which can save costs on individualized in-person training.
• Save in advance. If you’re aiming for a longer race, such as a half-marathon or full marathon, then you have a built-in time runway. Proper training takes a few months, so that you can ramp up training distances slowly and not risk injury from going too far, too fast.In a similar way, you can also use that period to prepare your finances. Save a little bit every week, such as using Current’s Savings Pods and you can earn up to a 4.00% annual bonus on you funds (you can even designate a pod as your ‘running fund’). The resulting stash can help with running-related expenses as you get closer to the starting line.

“Planning ahead makes a huge difference,” says Huynh. “Buying gear during holiday sales, registering during early-bird pricing windows, and budgeting for travel upfront can help runners feel excited for race day instead of financially stressed by it.”