How To Save On Travel Expenses
By planning carefully and spending financial resources cautiously you can save yourself and your company a sizeable amount of money while on the road.
Business travel expenses can prove costly whether it is plane tickets, train tickets, rental cars, taxis or meals out. There are many methods of cutting business expenses. By planning carefully and spending financial resources cautiously you can save yourself and your company a sizeable amount of money.
Credit Cards and Voyageur Miles
Often using credit cards can benefit you and your company through mileage or points programmes. It is better to fly, drive, and stay with member and partner companies and earn points each time. It is fairly easy to apply online, by mail or in person. This can help the business and the individual save on travel expenses in the future.
Pay off as much as you can on your credit cards to avoid finance charges and interest and always pay your minimum payment on time to avoid late charges and more interest.
Distinguish Between Comfort and Luxury
One of the easiest ways to cut costs is to distinguish the comforts from the luxuries. You can do this by flying economy or booking your ticket in advance. If you have to fly business class you should consider using a points upgrade or look for lower rates.
Book hotels that cost less. By opting a hotel that is clean and comfortable which includes wireless Internet and breakfast in the price and not a luxury hotel, you can save on expenses. Another way to save is have employees share rooms or suites with separate sleeping areas.
Employees should be awarded a budget per day for meals and expensive dining should be avoided. Alcohol should be prohibited in most cases.
A good way of reducing travel expenses is by travelling less. Use conference calls, email or video conferencing where it possible. Weigh up if it is really worth travelling for.
Plan Your Travel
Coincide your trips. If you have a meeting or a conference in the same area try to make sure you kill two birds with one stone.