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Nov 9, 2018    |       2 comments

Finished My Second Ragnar

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This post is more of a “life” post than a strictly financial one. If you’re not into the “life” stuff, feel free to skip it.

I finished my second Ragnar race last week!

If you’re not familiar, Ragnar is a relay-style race where participants run for 24+ hours. We ran at McDowell Mountain, which is a trail run (there are trail races & road races). At this race, each participant runs about 16 miles, split up into 3 different legs, an “easy” leg, a “moderate” leg, and a “hard” leg.

I fancy myself a runner (though I’m incredibly slow…but I enjoy it and it’s something I do regularly, so even if I’m not speedy or great at running…..I still consider myself a “runner”). It was something I first got “into” when I first moved to Arizona 10 years ago and I’ve done it basically ever since. I usually participate in about 1 “big” race every year or so, and I do a handful of shorter distances each year (maybe one 5K and one 10K on average, plus in our area there are free Kids’ Mile races so I do 2-3 of those each year with my kids and they’re super fun! The kids still get shirts and medals and post-race food and drinks, etc. and it’s literally 100% free! So there <<< I still have a financial connection in this post, lol)

Even though I like to think of myself as a “runner,” preparing for this type of event is a PROCESS for me. It’s been interested to see how my teammates have approached it, as I’ve now done it twice. Several of my teammates across the two years have basically shown up with very minimal training and crushed it, no problem (though, in fairness, they are in-shape and participate in other types of exercise like rock-climbing, tennis, etc.) For me, it’s a 3-month long ordeal where I run 4-5/week and train my body to handle the long distance runs; then adding in 2-a-day runs, etc. It’s a lot of fun, though, as we often organize Team Runs and there’s a lot of camaraderie involved.

I debated whether to drop from the team multiple times this year. I didn’t feel well enough prepared. I was slower than everyone else. I missed an entire week of training when I got Kidney Stones.  It just didn’t feel like a good time in my life. For much of training, I was right in the middle of my move, separation-related stress, and general life chaos. It felt like taking time to run was a luxury I could not afford.

But then……maybe the training occurred at the perfect time in my life, too. Maybe I needed those mental “breaks” to just be out running. And the connection with my teammates, feeling their support and friendship.

Funny how sometimes the thing you think you just CANNOT do, is the exact thing you NEED to do for yourself in that moment in time.

We were slower this year than last (last year we finished in 23 hours, this year we were at 25 hours), but I felt stronger this time, had less soreness in the aftermath, and it was the same amount of fun.

COST:

In all honesty, I can’t remember the exact costs and registration isn’t open for next year yet so I can’t see what the current cost is. I know our team registered early so we got a price break and I want to say it cost $60 or $70 per person. I did buy some new running shoes (about $100), but the rest of my running gear I have owned for awhile.

Overall, I think my running hobby is pretty inexpensive. Most of my “running” related accessories have be re-used for years. I’ve had the same fuel belt for probably 5 years, for example. I’ve had the same headphones and headlamp (for night running) for over 2 years. Many of my running compression socks, sweat-wicking headbands and hats I’ve owned for a number of years, etc. And all of my training runs are free. I either run at trails by my house or the team has met up for trail runs at a local trailhead (also free). Given that I train for the race for a solid 3 months in preparation, that $60-70 entry fee amounts to 3 months of “entertainment” and team-building leading up to the big race. Not to mention the potential psychological benefits of getting exercise and Vitamin D, and of being able to unplug and be outside for awhile. It’s pretty powerful.

I’m 99% sure I’ll be joining the team for Ragnar 2019, too. I guess it’s just become an annual tradition at this point. 🙂

Nov 8, 2018    |      0 comments

You Can Become Debt-Free by Using the Snowball Method for Repayment

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Wouldn’t it be great to live debt-free and not have to worry about making monthly payments to several credit cards? While it may seem impossible when you’re buried underneath debt, you can use the snowball method to start making headway on that debt. The debt snowball method works by starting with the smallest debt and getting it paid off before rolling the payment into larger debts. The snowball method doesn’t seek to save you the most money since you’re not starting with the higher interest rate, but rather the lowest amount of money owed. This method helps you stay motivated and feeling like you’re making progress toward paying off your debt. Here’s how to get started with the snowball method.

List All Your Debts from Smallest to Largest.

Every single bill you have should be listed on this. If you just got a $50 doctor’s bill in the mail with a $10 minimum payment, list it. Once you have all the debts listed, you have a better idea of how much you owe with a clear breakdown of each payment.

Pay Off Smallest Debt First

Start by paying off as much as you can on the smallest debt. Once your smallest debt is gone, take the payment from it and start applying it to the next smallest debt while making minimum payments on your other debts. The reason this method is called the snowball method is that your money starts to get freed-up and grows like a snowball rolling down a hill. Focusing on paying those smaller debts frees up money to continue paying off the more substantial debts. This method of debt repayment is excellent for people who can easily lack motivation if they’re not feeling a progressive decrease in the amount of debt.

Roll Smaller Payments into Bigger Ones

Once your small debts are paid off, you can begin rolling those payments into your more significant obligations. For example, that $125 credit card payment you were making can be combined with the $25 minimum on it for $150 for the next payment. Once your second debt with a minimum of $75 is paid off, add that to the balance for a total of $225 toward the next debt. You can see how this method quickly compounds to help a user get out of debt. If you manage to acquire a new debt that is less than the one you’re currently focused on paying off, make sure you pay it off before starting in on your larger debt. Always be able to adjust your repayment strategy to accommodate for new, smaller debts that might appear.

Live Your Debt-Free Life!

Following the snowball method is a sure-fire way to achieve your debt-free lifestyle. Sometimes your everyday spending can come to an abrupt crash if you find yourself in debt, so much in fact, that it is the same as fighting over who’s at fault in a car accident, so it’s time to take responsibility to get debt-free if you follow this simple principle. Some snowball method calculators are available online to help you decide how much you should pay on each bill as you work to pay off the smallest amount first.

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