Jeff Hoernemann's essay

JEFF HOERNEMANN

2008 Citi Scholastics Essay Writing Contest

Grand prize winner: $15, 0000 college scholarship

Home: Andover

High school: Andover High School

As I furiously pedaled my way towards the transition area nearly a full hour after starting the bike portion of the competition, it was becoming very obvious to me that using my mountain bike in future triathlons was not going to help me win any races. Being a rookie to the triathlon circuit, I thought some inexpensive tire modifications would be enough to keep pace with the other athletes. Clearly, this was not the case. The purchase of a new bike would be a necessity if I wanted to be competitive.

Consequently, I set out to research the finer points of what I needed in a quality triathlon bike. I discovered that most competitors preferred the ultra light carbon-framed, multi-geared models with thin, smooth road tires. The bike should be custom fit, allowing it to be ergonomically correct for greater speed and to reduce the risk of injury.

Armed with my newly acquired tri-bike knowledge, I went to the bike shop. Once there, however, my quest nearly ended before it even began. The cost for an entry-level triathlon bike started at about $1,200. My savings account balance was $975, seriously shy of what I needed. Sticker shocked and empty handed, I went home.

I needed a plan. I had roughly six months to save the money before the start of the next triathlon season. I developed a "spreadsheet" of my monthly income and expenses. My part time job working as a lifeguard was limited to weekends during the school year due to homework and sports commitments, so my earning potential would be limited. Expenses were divided into 2 areas: "necessary" and "discretionary." Necessary items for me included things such as a badly needed pair of running shoes for the cross country running season, new lifeguard swim trunks to replace the chlorine-damaged one I had worn for the past year, and gas for my car. Discretionary entries included downloads for my iPod, movies with my friends, and post-practice runs to Dairy Queen.

When the numbers were all recorded, it appeared that the majority of my spending was discretionary. Reluctantly, I decided that I had plenty of music on my iPod, so new songs would wait. I started renting movies instead of going to the theater, limited my after-practice food orders, and brought a reusable water bottle from home to practices instead of buying bottled water. As the money began to accumulate, I saw other savings potential that I hadn't thought of before -- skipping the extra cookies at the snack bar at school, carpooling with my friends, and instead of buying new video games, my friends and I decided to borrow from each other every few weeks. Five months later, my savings account balance read $1,295. I had reached my goal.

Back at the store, all of the sleek, new triathlon bikes were limed up. At the end of the row, I could see the bike I had chosen the previous fall. Not only was it still there, but because it was last year's model, it was on clearance! The price tag now read $999. Not only could I afford it, but I also had money for the aero bars that would need to be installed on the bike - a crucial item that I thought I would have to eliminate.

Since that time three years ago, I still carefully budget my discretionary spending. Fiscal responsibility, at times, means less immediate gratification, but the pride I feel in reaching a financial goal for a major purchase far outweighs the small sacrifices needed to attain it.

With college in the near future, I am going to need those budgeting skills to make my dollar stretch as far as possible. As for the bike, it was one of the best triathlon investments I've made. That summer, I was able to shave 32 minutes off my time and took second place in my age division. Ironman, here I come.