Calculating the cost of marathon training and running is pretty simple, just add the cost of shoes, shorts, T-shirts plus ofcourse the race entry fees and you have your simple answer.
I have always thought like that but after listening to economist Justin Wolfers, who teaches at The Wharton School at the University of Pennsylvania and is a frequent contributor to the Freakonomics blog, the mathematics it got complicated.
How much does it cost to train & run a marathon
According to the economist, who is training for Marine Corps marathon, the real cost of training for a marathon is more expensive, Each hour you spend running is an hour you don’t spend working harder to get a promotion, studying for a degree, or shopping around for the cheapest groceries.
This is what the economist writes
The foundation of all economics is something called opportunity cost. It says that the true cost of something is the alternative you have to give up.
So each hour that I spend running is an hour that I don’t spend hanging out, working or sleeping. How do I choose? Following economic theory, I keep doing an activity only as long as it yields greater benefits than the alternative….
The same logic applies to you. Each hour you spend on your hobby is an hour you don’t spend working harder to get a promotion, studying for a degree, or shopping around for the cheapest groceries.
That is smart analysis from him, personaly I consider time spent running time well spent. The joy and pride I get from running is priceless!!