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How Best to Budget When Traveling for Business

  • December 20, 2017

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I have a great contributed post for you today on saving money while traveling for business. It’s for informational purposes only, so please consult a financial professional before making any money decisions. Got it?

traveling for business

Traveling can be very expensive, whether you are traveling for business, or for pleasure, but here are ways which you can budget to ensure you are getting your money's worth. You don’t have to break the bank to have a great traveling experience, and often companies up the prices to get the most of of tourists and travelers alike.

Read on to find some great ways to budget and save money, so you can spend your money elsewhere. There are some great ideas here to get you started, and these are methods you can use over and over again to ensure you get a great deal each time.

Traveling At Different Times

Many people want to travel at certain times but this isn’t always a great idea. Sometimes you can’t compromise, so you have to get that flight, or need to leave to get the rental car at a certain time, but shopping around can save you money. Travelling at peak times is obviously going to cost a lot more, so if you can, travel at stranger times in the day. This might mean getting to that meeting a bit early, or sitting in a coffee shop for a while but then you can make the most of your traveling experience right? Having flexible plans can saving a lot of money, and only comes at the price of a little inconvenience.

Consider the Exchange Rate

You can waste so much money when abroad just from accessing your bank or taking money out. There are lots of travel cards available, at really good rates. This can also be beneficial in case you lose your cards too. Preparing for these sorts of eventualities will save you a lot of hassle in the long run.

Being smart with your money, and how you access it will mean not wasting money unnecessarily. Depending on how you access it, and making sure you can for as little cost as possible, is a really smart move for budgeting.

If you can chose the locations where you’re traveling for business, why not choose somewhere that has a good exchange rate for you? Although you often do pay a little bit more when you get there, when you are there you can save a lot of money.

Things like food, entertainment and accommodation will be that much cheaper. Traveling to countries that have a good exchange rate for your own currency can mean saving in the long run. This means your business doesn’t have to suffer for your networking needs, or meetings with clients.

Related: Obtaining A Saudi Arabia Business Visa Doesn't Have To Be Hassle

Save Before You Go

While many people try to save money while they are away, you can always save before you go. Food for example, is what often gets sacrificed when traveling, while eating cheaply is a great idea that save you lots of money, why not do it before you go? That little bit of extra saving can mean you have a little bit more cash to spend when you away. Saving before you go is a great way to make traveling just that bit cheaper.

Not eating out or ordering in before you go can mean saving that money so you can when your on your trip. Or, maybe you could cycle to work, save on petrol, and have some extra cash for taxis? There are plenty of ways to be frugal in everyday life, so traveling can be that little bit more luxurious.

Get Creative with Accommodation

While you may want to book the first hotel room you see advertised, shopping around is essential to budgeting. Looking on comparison websites, and looking for deals and packages, can get you some amazing bargains. These often mean traveling more spontaneously, or going to some locations that are off the beaten track. This can be an affordable and far more interesting way to travel though.

There are always companies such as AirBnB which offer very competitive prices compared other local accommodations. If you want to cook your own food, or simply just want some down time after going to meetings and talking business all day this is a fantastic. Having your own place can make any trip that much easier, and more enjoyable.

If you are staying somewhere long term, or for a bit longer than your usual trip, looking at comparison websites local to your destination like: would be great. Looking at local sites might even mean getting a more authentic experience of the place you are traveling to. Even if you are traveling for business, you can still make the most of experiencing a new culture and being in a new place.

If you want to get a lot more creative with your accommodation, why not try couch surfing? Because this is a free experience, it would definitely benefit your budgeting needs. If you want to make the most of traveling, meet the locals, and stay as a guest while learning about the culture there, this could be great for you.

Bring Some Essentials from Home

There are a few items which airports, for example, really increase the price of. Bringing your own snacks and entertainment can be a fantastic way to not get stuck hungry or bored while traveling, and traveling has lots of waiting around! Bringing some food from home is also a much more nutritional option than opting for fast food, so it’s a win win.

When on holiday most people feel like reading, and books in English are often far more expensive to buy when away from home. Bringing your own entertainment is a great way to not spend unnecessarily, and is a little thing you tend to forget when planning your trip.

Budgeting can be challenging when you are planning a trip, but there are ways around it. If you work for yourself especially, you want to save as much money as you can while trying to promote and network for your business. Shopping around, and being flexible with when you travel can be a great way to start budgeting and saving your money when traveling.