3 Ways to Save Money While Traveling for Business

Travel is often a necessity for business. Account managers need to strategize with clients while sales teams need to meet in person to close deals. While the benefits of travel outweigh the costs to your company, you may not feel comfortable spending thousands of dollars on plane tickets and hotel rooms each year.

If you’re traveling on a budget, consider following the three tips below to lower your travel expenses and save money when you’re on the road.

Invest in a Travel Expense Card

Many airlines and hotels have rewards cards that offer free nights or miles when the cards get used. If people within your company travel often throughout the year, invest in one of these cards to increase your savings. Within a few months, you could receive free flights or hotel stays that reduce the cost of these trips.

If your employees use cards when they travel to buy food and other necessities, look into corporate cards that you can give to them. With cashback reward options, your travelers could actually make money for the company when they’re on the road.

Skip the Stress of Renting a Car

In 2016, Bloomberg reported that rideshare services such as Uber surpassed rental car expenses for one of the top travel and expense software platforms on the market. This finding proves that taxis aren’t the only industry hurt by Uber, as more business travelers are opting to choose ride-share options instead of renting a car.

Not only are car rentals expensive since you have to pay for the vehicle rental, insurance, gas, and parking, but they’re also stressful when you have to navigate an unfamiliar city such as New York or San Francisco.

Of course, you don’t have to rely only on Uber and Lyft to get around. Bike-sharing services can allow you to easily rent a bike to use during your business trip. If you book your hotel close to your appointments, you can bike to them and save yourself more money.

Buy Groceries Instead of Eating Out

When you’re booking hotels, try to find rooms or suites that have kitchenettes or refrigerators where you can store and cook your own food. You can also look for options that have complimentary breakfasts for guests.

When people travel for business, they typically eat out for three meals a day because they don’t have a place to store food. While a dinner out is nice, three meals a day is excessive.

Not only is dining out expensive, but it also can be unhealthy, depending on where you dine. According to CNN, people who eat at fast-food locations and restaurants consume 200 more calories per day. Diners who ate out also increased their salt, fat, and sugar intake.

The next time you travel for business or send your sales teams on the road, keep the three tips above in mind to maximize your savings. By investing in healthy and affordable options, your company and your employees will benefit.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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