Five Ways to Save Money on Your Next Business Trip
Jun 20, 2020 11:52 AM EDT
Sometimes, hopping on a video call just isn't enough. There are times when you or members of your team will have to do some traveling to support or expand your business.
There's no doubt that one of the best ways to save on your next business trip is to deduct the expenses that can be deducted when tax time rolls around, but that doesn't mean you should go wild thinking that you'll get reimbursed for all your costs! It's still a good idea to spend less upfront. Here are five tips to help you do just that.
It's true that many business trips include time spent on an airplane, but not all do. In some cases, you may be able to save more money by traveling in a car instead. Even if you do take a plane, you may rent a car when you get to your destination.
No matter why you find yourself in a car on your next business trip, it's important to drive safe. The only thing wore than spending a bunch of money on a rental car is spending tens of thousands of dollars and hiring a personal injury attorney after you get into an accident with another driver on the road.
Driving safe means following the rules of the road and driving defensively, but it also means making sure you understand how to operate the vehicle you have rented before you hit the road. Make sure you know where all the controls are and adjust all the mirrors so you can feel confident behind the wheel.
Be Flexible When Booking a Flight
If your final destination is a little too far to drive, taking an airplane is a better option. Unfortunately, it also has the potential to be a more expensive option.
You can keep costs down by avoiding the worst days to fly, but it's even better if you're willing to be flexible about when you leave. For example, instead of scheduling meetings at your destination before you book your flight, book the most affordable flight you can find and then schedule your meetings. You can save hundreds of dollars by not being picky about when you leave and return!
Look for Small Ways to Save
Don't discount the small ways you can save on vacation because you're so focused on all the big ways you can save. All that small change adds up, especially if you'll be away from the office for a long period of time.
One of the best ways to save a little money is to eat inexpensively, but there are other ways you can save a little here and there that include:
Biking to and from the office instead of taking a cab
Refilling a water bottle instead of buying bottled water
Take the bus or subway instead of renting a car
Book a smaller hotel room
Take Advantage of Your Hosts' Hospitality
If you're traveling for business, chances are, you'll be working with other people in their workplace. Whether it's a sister office or you're trying to secure a new partnership, don't be afraid to ask your hosts for recommendations.
For example, they may be part of a discount program they can extend to you when booking a hotel or renting a car. If you have a close relationship with others in the office, you may be able to ask if you can stay with their family instead of staying in a hotel. At the very least, they may be willing to buy lunch or dinner!
Encourage Employees to Stay on Budget
Incentives are important in the workplace, but they are especially important if you have people in the office who are traveling for business and you're staying behind.
By using incentives, you can encourage your employees to spend less on everything from booking their flights to eating out. Offer to pay for a fun activity while they're away from the office for staying on budget or provide employees with an extra day off for saving money. Your office will spend less on an important business trip, and your employees will appreciate that they get something special for working hard to save.
Whether you want to travel for business or not, if you're spending time away from your home office, you don't want to spend more money than you have to. With the tips on this list, you can find both big and little ways to save so your trip doesn't put your company in the red.