As an entrepreneur, it’s important that you use your money purposefully and wisely. Whether you’ve taken out a loan, have an investor, or are bootstrapping your business, you likely have to sacrifice financially in some areas to make it work in others. Luckily, there are a number of ways that you can save and better use the money that you have available, like using cheap business tools, hiring minimal staff, or even investing money in a fixed index annuity or another investment opportunity that will allow you to grow in the future.
Another way to save a good amount of money is to avoid traveling whenever possible; however, at one point or another—whether to present to potential clients, close a deal, or tour a potential vendor’s facility—you may have to hop on a plane and travel across the country to keep your business running smoothly. Travel can be prohibitively expensive, and many trips might be too far out of your budget.

Luckily, there are ways you can save on travel too without having to give up too much comfort or keep things too cheap. Here are some tips to help you travel as an entrepreneur to make the most of your time and money while still enjoying the trip:

Plan as Far in Advance as Possible

You may not know that you have to travel until a couple of weeks before you leave town, but the farther in advance you can plan, the better. While it’s possible to find some last-minute deals, most of the money-saving deals on flights and hotels have to be booked sooner. To save money, the sooner you can book your travel, the better.

Try to Travel in the Off Season

This one is a no-brainer for those who want to go on vacation. Heading to Hawaii during the summer months or booking a hotel on the California coast once it starts to warm up can get pricey and crowded. The same concept applies to business travel as well, though. If you’re able to plan far enough in advance, avoiding holidays and traveling during the off-season is the best way to save yourself money without having to settle for a cheap and miserable flight.

Pack Everything in a Carryon

Having a checked back is a lot more convenient, but most airlines will charge for checked luggage these days. Some even charge for a carry on and personal item, making travel more expensive than it used to be and more expensive than it should be. If you can’t give up your checked bag due to an extended trip or the need for space, try to fly with an airline that will check it for free. Otherwise, the best way to save yourself money is to pack everything you need into your carry on—it might require some creativity and Tetris-worthy skills, but it could save you hundreds of dollars.

Check Multiple Hotel Booking Sites

A lot of travel sites out there will help you compare the prices of different flights and hotels, yet it seems like they don’t always show you the best deals or the options that are available which makes it important to check as many booking sites as possible before paying for a room to get the best deal. Sites like Trivago will show you different booking options from multiple different sites including Airbnb and VRBO so starting with those is a good idea.

Catch an Uber or Lyft

A lot of times, business people will rent their own vehicle when they arrive at their destination to get around and make meetings as needed, without being subject to public transportation. Lately, though, with the rise of ridesharing services like Uber and Lyft, more and more travelers are opting for that alternative instead of paying the cost of a rental car—and for a good reason. Ridesharing services can cost a fraction of the price of a rental. So, to save yourself some money but still enjoy the comforts of traveling in a private vehicle, the best option is to hail a ridesharing service instead of paying the rental fees and insurance that come with renting a car.

Stop by the Grocery Store Instead of a Restaurant

Sometimes it’s fun to get out and eat out while you’re traveling, for fun or business, but those restaurant tabs can add up fast, leaving you with more expenses than you may have wanted or planned on. While you may want to grab a meal from an eatery here or there, opting to shop for food at the grocery store instead of eating out will save you more money than you might think. Be sure to take advantage of a free continental breakfast, if offered at your hotel, then try microwave dinners, sandwiches, soups, and other store-bought alternatives for lunches and dinners, (unless you have a dinner meeting, that is).

Take Your Host up on Their Offers

While you don’t want to mooch or beg, when you travel for business, hosts will often offer to take you out for a meal or to share some of the local entertainment with you on their dime. In those cases, don’t be afraid to accept their offer. It would be impolite to suggest it yourself, but if they put it out there and invite you along, then instead of refusing or offering to pay for yourself, enjoy their hospitality—and be sure you thank them afterward.

In what ways do you save money when traveling for business?


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