Keeping Corporate Travel Expenses in Check
Keeping Corporate Travel Expenses in Check
When we travel for work, it's easy for expenses to spiral out of hand. However, if your trip budget is limited, whether by a per diem or some other means, you should familiarize yourself with some cost-cutting measures that will not compromise your comfort while traveling.
The budget guys back at headquarters aren't the only ones who will be pleased by these suggestions for saving money. It is common practice for companies to establish a predetermined budget for business travel. Once that budget is depleted, no additional trips can be planned for that budget year. Therefore, if you foresee a need for other business trips in the coming months, it is wise to monitor expenses as you go along in order to save that limited budget for future significant excursions.
While hotels and restaurants are great at making you feel at home and meeting your needs, they are also great at running up your tab, making it tough to stick to a budget when traveling. However, there are several simple strategies to avoid frivolous spending and make the most of your business travel budget.
* Have something to eat before you take off. Airport food courts and snack shops are known for their exorbitant prices. You should still eat breakfast and fill up before you leave home, even if you're leaving early in the morning, to avoid buying food on the way.
* Careful packaging. Imagine your life when in the hotel and traveling. Almost all of your necessities may be found in convenient travel sizes. In addition, for those times when you don't have access to a decent meal, bring along some lightweight snacks like trail mix, candy bars, or nuts. You can save a lot of money by not using the airport services and being self-sufficient during the trip.
* A hotel room consists of nothing more than a bed, a bathroom, and a television. Think about where you would like to stay before making your reservation. Do not reserve a five-star hotel if you are not in need of one. An executive suite at the Hilton isn't necessary if you're only planning to spend the night somewhere before continuing on your journey; a clean, well-run motel will suffice.
Please split the fare. Sharing rides or rental cars is a great way for large groups to cut costs (for both you and the environment) when traveling or when meeting with business colleagues.
* Delis and markets in general. Even in a large city like New York or Orlando, you may use your common sense to eat cheaply. Your room can be stocked with fruits and travel foods by making an early trip to a nearby grocery. This will help you cut down on the quantity of meals you have to eat out.
* The use of public transit. You might save a lot of time and hassle compared to renting a car if the place you're visiting offers reliable public transportation options, such as subways. For instance, if you're looking for an alternative to renting a car, Washington DC offers excellent rail travel.
You can not only save money while traveling, but you can also enjoy a higher standard of living, by applying some of the same common sense that you use to manage your household budget. You can improve your mood about your work trip and earn a reputation as an astute traveler by refusing to pay full price for some necessities.
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