How do you pay for racing?

[tyler524]

I have been spending money like it is going out of style lately and it got me wondering how some of you guys pay for everything. It all adds up quick and I don't plan on racking up a bunch of CC debt. It seems like I have been spending every bit of free money on the bike, trailer, or related things to get ready for the season. I am hoping to be able to sell off some of my stock stuff that I have laying around and some other car parts and things that I have laying around out here to help finance all of this.

I was once told that the only way to make a small fortune racing was to start out with a large one

[blue03636]

I purchased all my stuff over about a 5 year period before I started to race. Races I pay per month or out of tax/bonus money.

[jbot]

If it wasn't for racing/track days, I would just end up wasting it on retirement planning or on the house. Clearly, I am making the right choice.

[JStump]

I have been spending money like it is going out of style lately and it got me wondering how some of you guys pay for everything. It all adds up quick and I don't plan on racking up a bunch of CC debt. It seems like I have been spending every bit of free money on the bike, trailer, or related things to get ready for the season. I am hoping to be able to sell off some of my stock stuff that I have laying around and some other car parts and things that I have laying around out here to help finance all of this.

I was once told that the only way to make a small fortune racing was to start out with a large one

I hear ya! I didn't realize how expensive this hobby is until this month, and I don't even race lol. Pretty much spent an entire months pay on the bike getting it ready for this year.

[vf1000ride]

Lots of it.

[owndjoo]

I was lucky and had my dad footin most of it. Then I got a cc an racked a shit on of debt... Lol def try to avoid the debt part! Now I'm slowly trying to get back into it. Even if it's just a one off AMA mid Ohio race every year

[gixxie750]

DONT BUY NEW ANYTHING(besides tires) Dont get flashy vehicals or don't waist $ on good looking paint etc. Spend all $ on tires and good suspension and gear. Only buy once so make it count. travel only in groupls and split all costs. CC is the devil! Work 80 hrs a week min and don't go out to eat and cook at home. Turn Home AC off and heat on low in winter. I have not had hot water in 2 months and lived without a fridge for 2 years strait. sacrifice is the name of the game. People think I'm crazy,but thats because they have new everything and can't afford to use them.

[cOoTeR]

Just race on the street. If you do it enough you can even race the police. The only problem is legally its frowned upon and the trophies suck.

[Gixxus Christ!]

Just race on the street. If you do it enough you can even race the police. The only problem is legally its frowned upon and the trophies suck.

I've earned a few fast driving awards myself, always a big event, the flashing lights, the sirens, its like hitting on a slot machine only in reverse.

[crb]

DONT BUY NEW ANYTHING(besides tires) Dont get flashy vehicals or don't waist $ on good looking paint etc. Spend all $ on tires and good suspension and gear. Only buy once so make it count. travel only in groupls and split all costs. CC is the devil! Work 80 hrs a week min and don't go out to eat and cook at home. Turn Home AC off and heat on low in winter. I have not had hot water in 2 months and lived without a fridge for 2 years strait. sacrifice is the name of the game. People think I'm crazy,but thats because they have new everything and can't afford to use them.

I guess I have different priorities hot water and a fridge come before my hobbies. Cold showers suck! I do like my AC and heat. sounds like you need a better job.

[madcat6183]

If it wasn't for racing/track days, I would just end up wasting it on retirement planning or on the house. Clearly, I am making the right choice.

I just laughed aloud, my fiance looked at me, read this, and realized where my $ is going. She was not impressed.

Tyler I think you're a lot like most of us, girl, house, cars, and then.... track/racing.

Basically, I don't sign up for anything too far in advance because in reality, it's always a game time decision if I want to spend the money in that way. I'm not going to win anything in a race, or a track day, so I have to really see it as a way of spending time with friends, and getting my adrenaline fix.

First year I did the CC thing, racked up some debt, and am just finishing paying it off. Granted there's more to that story like a DUI, and other things, but yeah, don't do that.

I do what Gixxie says and Craig, I buy things when I can afford them. Like my transmitter, used some OT $ to pay for that. Then when I do go to track days/races, I do it budget style. Cold cuts at lunch from the grocery, bottled water, hotel splits, ride shares, etc.

With our wedding of 250-300 people coming up, I had to trim the budget big time this season. I wanted to race almost all the MS events, I can only make 5-6 now, 1-2 mid O days, and then 1 putnam weekend. I just had to make choices.

Overall, be smart, and you're quote is correct. Especially since MS doesn't pay $$.

[Dubguy85]

True story... It is expensive as heck.. Before I was married my wife could care less because it wasn't her money too.. Now that we are married and she started realizing the xost of it.. She started the dreaded "spreadsheet". Never ever do that.. Its scary!! Just have to do what u can and work with whatever budget. U have.. I'd rather spend money on toys and trackdays than new clothes or anything like that.

[TwiztedRabbit]

True story... It is expensive as heck.. Before I was married my wife could care less because it wasn't her money too.. Now that we are married and she started realizing the xost of it.. She started the dreaded "spreadsheet". Never ever do that.. Its scary!! Just have to do what u can and work with whatever budget. U have.. I'd rather spend money on toys and trackdays than new clothes or anything like that.

the exact spot that i am in.. except the wife rides track too. so its so much easier to convience to do things.. the down fall she rides track to so everything we do costs double..

[max power]

Just do what the drag racers do, sell dem drugs!

[SJC1000rr]

Over time, overtime, overtime..... Think last year I racked up about 500-600 hours of it to pay for all of it and so on. The year before I went with the CC route and it took most of my 2011 tax return to pay it off and then spent the rest to cover most of this season already so I'm ahead of the game. At least until I need repairs or something unexpected happens.

If your scratching your head, just use a spreadsheet or Word doc to figure out your expenses for the current and next month so you know about what you'll have. IF you can afford to go, then have fun and do it. If not....don't. I know how hard it is to not go...but getting deep into debt is not the answer. MANY of us can give you horror stories I'm sure.

Edited March 23, 2012 by SJC1000rr

[madcat6183]

Over time, overtime, overtime..... Think last year I racked up about 500-600 hours of it to pay for all of it and so on. The year before I went with the CC route and it took most of my 2011 tax return to pay it off and then spent the rest to cover most of this season already so I'm ahead of the game. At least until I need repairs or something unexpected happens.

If your scratching our head, just use a spreadsheet or Word doc to figure out your expenses for the current and next month so you know about what you'll have. IF you can afford to go, then have fun and do it. If not....don't. I know how hard it is to not go...but getting deep into debt is not the answer. MANY of us can give you horror stories I'm sure.

Amen brother, left work at 7:30pm last night after getting here at 8:30am. Not to mention picked up a random bar shift Saturday night 6-11pm.

I don't want to start a spreadsheet because it'd make me sick to my stomach. One other thing I did is my 401k and roth ira both come out automatically along with extra into savings, so I don't let myself touch the savings except for the wedding and honeymoon.

But yeah, having those things already taken out help me know where I stand. Also having the fiance' splitting the mtg, and utilities helps lol. Actually that is my race/track budget I decided today after this thread.

[standout]

Work, work, and then work some more. Im like jporter and work on cars for a living. I Come in early and stay late almost everyday but the biggest thing I do is every side job I do outside of work I put that cash in a jar and don't touch it no matter what. Usually by this time of year of have a good sized chunk saved up for the season.

[Mykill]

I personally look at the expenses and say no fucking way....however when it comes down to it I always seem to shell out the money. Im like everyone else...Skimp on certain things and work OT. I have second job for play money and I am debating (and prolly will) work 108 hours in 9 days coming up in April just for some extra money....I also just do what I can when I can. A weekend a month or so is plenty for me.

Madcat.......I may see you Saturday

[Steve Butters]

Just do what the drag racers do, sell dem drugs!

this is so fucked up...but only because its so fuckin true

[madcat6183]

I personally look at the expenses and say no fucking way....however when it comes down to it I always seem to shell out the money. Im like everyone else...Skimp on certain things and work OT. I have second job for play money and I am debating (and prolly will) work 108 hours in 9 days coming up in April just for some extra money....I also just do what I can when I can. A weekend a month or so is plenty for me.

Madcat.......I may see you Saturday

You coming in to the Elevator? If so, I work from 6-11pm. Let me know early in the day if you make a reso, I'll buy you a beer and shot. Trust me, it's worth the $, best food in Cbus.

[J_Copeland]

I'm hitting up my business for some cash !

[blue03636]

I have seen people do crazy shit to race. I watched someone piss away their 401k racing.

[CleaveTheGreat]

You coming in to the Elevator? If so, I work from 6-11pm. Let me know early in the day if you make a reso, I'll buy you a beer and shot. Trust me, it's worth the $, best food in Cbus.

QFT. Elevator is amazing.

[MidgetTodd]

I guess I have different priorities hot water and a fridge come before my hobbies. Cold showers suck! I do like my AC and heat. sounds like you need a better job.

Clearly you need to rethink your priorities

[Mary#17]

When my husband and I raced, we named our team "Team Worm" as in Wasting Our Retirement Money.

Unfortunately, we racked up a lot of debt. We quit racing in 2005 and we still have some debt related to the racing days so be careful. I don't regret it.......most days.

Edited March 23, 2012 by Mary#17
poor grammar