Last Updated on March 31, 2021 by Rat Race Running
As I progressed as a runner, I found it quite challenging to put all of my running necessities into my budget and had to dip into my savings account.
Some of these are good running shoes, race registration fees, running clothes, and other utilities.
The solution that I came up with is to select a coin denomination and place them in a coin bank while also tracking my progress.
The denomination that I chose was the P10 coin. Not only because it is relatively easy to get in fair changes, but also not as common as P5, or as small as P1, or as large as P20. For me, the P10 coin is the baby bear analogy for the “just right” amount to save.
Every time that I receive a P10 coin, it goes straight to my coin bank. The amount that I was able to save is not constant because there were days when I collected a handful of P10 coins, but there were also days wherein I came up empty-handed.
Every time the coins amount to P1000, I will go to the bank, deposit it, or exchange it with a paper bill.
I prefer doing this so that my coin bank will not be too heavy, and I will not be hassled when the time comes that I need to withdraw my funds.
It usually takes one and a half months to accumulate a thousand pesos. By the 6th month, I already have P4,000, which is enough to buy a new pair of shoes.
Regarding races, some people try to join as many races as they can to keep them motivated. As discussed in my previous article, it is essential to know your drive or your inspiration to run.
In my case, I run for the love of running and the excitement of a new challenge.
Still, I join at least two half-marathons a year to take my overall fitness to the test.
The regular price of the registration fee is about P1,000—plenty of time to save.