You may not have a healthy travel budget for your business trip, but that doesn’t mean you have to eat fast food and stay at a cheap budget hotel in a dangerous neighborhood. We’ve compiled a list of tips for saving money that will still provide you with a pleasant, productive, and safe experience that will make you the hero with your finance department.
First, think outside the hotel box. We’re not suggesting you hit up friends for their spare bed or sleep at a hostel, but Airbnb might be a better option than the expensive conference hotel downtown because it can provide you some cost-saving amenities. Sometimes you can rent an entire house or apartment with Airbnb for the price of a luxury hotel in the heart of the business district. If you’re traveling with several colleagues, a multi-bedroom apartment or house might cut the accommodations line item down to a fraction of the cost of everyone having their own hotel room.
These properties often not only have spaces for lounging or working, most come equipped with a kitchen, which leads us to tip number 2. A kitchen will allow you to stock up on some grocery basics and eat in for breakfast and maybe even dinner a few nights. Conducting a business meeting at the property might also provide the right private atmosphere for a day of negotiations, and you could have food delivered and eat without wasting time going out.
If an Airbnb property isn’t an option, consider booking a suite at a hotel. The price of a suite might be $50 more per night, but by using the in-room mini fridge or small kitchenette with a two-burner stovetop, you’ll be ahead in the long run when you add up the savings to your food per diem because you dine in for breakfast and/or dinner. A home-cooked meal might not be as glamorous as a nice restaurant, but knowing you’ve saved time and money will allow you to relax and unwind after a long day. (And you can always spend your per diem dollars on other things, like a bottle of wine and a whole pint of ice cream.)
When you’re searching for airfares, be flexible with your departure and arrival dates. Compare the cost of flying in on a Saturday or flying home on a Sunday to regular Monday through Friday travel. Traveling outside the normal work week will often net you significant savings. Flying the red eye going home might be worth it if you can negotiate some comp time to sleep in. (But don’t sacrifice your health and well-being for the sake of saving a few dollars.)
Finally, see if there’s a way to avoid renting a car during your trip. Not only is car rental $50 a day or more, you’ll pay upwards of $30 or more every time you park, especially in big cities such as Chicago, Miami, and New York. Uber and Lyft might seem expensive, but they could end up being cost effective when you do the math — you could get to your conference and back for $40, as compared to car rental, day parking, and hotel overnight parking.
You might even find you can walk to a meeting or dinner with clients, which is a good way to get some exercise while you’re traveling.