Running for Office? Be Prepared To Self-Finance

In this continuing series, we explore the results of a survey conducted among over fifty state and local candidates asking for any voluntary advice they might give to new or inexperienced candidates seeking elected office.  Part 5 can be found here.

First time candidates usually expect they will have to contribute something to their own campaign, but few realize exactly how much they will usually end up contributing. Because you will not be receiving many donations at the onset of your campaign, most of your initial expenses will have to come from your own wallet.

Depending on the size and scope of your race, this will vary as to how much: for a state house race, expect to spend at least $500 before you can reasonably assume you might get your first sizable donation. Plan accordingly: set some money aside for your initial expenses, a budget of at least $2,000-$3,000 should be enough for your first batch of yard signs, flyers, thank you letters, name tags, and other assorted material for the early weeks of a small sized campaign.

Try to avoid other financial obligations for the duration of your campaign. Some things are unavoidable: loan payments, vehicle repairs, and other emergencies are bound to crop up. However, if you can avoid them try to do so. If not, be sure to factor that into your starting and mid-election budget. Unless you are quite wealthy or receiving unnatural amounts of contributions, sooner or later you will likely need to dip into your pocket for last minute campaign expenditures.

Finally, avoid unnecessary personal expenditures such as movies, fast food, snacks, and other such “luxuries”. Nothing is wrong with needing an escape from time to time, but if you are spending more than $20 a week on non-essential items, not only are you spending too much, but you aren’t eating like you should. Fast food and chips offer almost no benefits other than filling you up. If you must eat these due to time constraints, try to eat healthy: subs instead of pizza, salad instead of chips. Not only will your wallet thank you, your body will too, healthier foods give you energy and trust me; you’ll need every last ounce you can get.