Expert Flyer Hot Topics – Where the Rubber Meets the Runway

Last week, in part one of our three-part series with Money Crashers personal finance blog editor, Andrew Schrage, we explored unique and clever tips for holiday shopping abroad.  This week, Andrew offers block and tackle money-saving strategies for business and occasional travelers on the road. We hope you enjoy part two of the series. 

Savvy $avings on the Road - or in the Air

What are the Money Crashers best money-saving strategies for the budget-squeezed business traveler and the frugal consumer?

Since I travel extensively, I need to identify every opportunity to save money. For example, try to avoid staying downtown when traveling to a larger city, since the hotel rates will be significantly more expensive. Search out a place in a nearby suburb and make sure to use public transportation to commute. Also, look for apartments that might be available or consider the benefits of a hostel versus a hotel. Also, whenever I can, I skip the plane altogether. Although you have to be careful with rising gas prices these days, driving is often a cheaper option that will also save you a bunch of time since you can avoid all of those painful security lines. And if you have the opportunity to travel by train, perhaps in Europe, for example, not only can you save a bunch of money, but you can take advantage of the extra down time by getting better prepared for any upcoming meetings.

If you’re traveling for leisure, try to plan your vacation around a business trip. In the past, I have piggy-backed a short business trip into a vacation for the family. Basically, my company paid for both my ticket to and from the destination and the length of my business hotel stay, and I simply had to cover the expenses for the extra days I spent there with my family. Also, consider combining luggage with any fellow travelers as a way to avoid airlines checked baggage fees.

Moreover, to increase the value of your vacation, visit two nearby destinations on the same trip. For example, I have relatives in NJ, so one thing I’m planning to do is take a ten day trip, spend five days visiting my family, and the remaining five days seeing the sights of nearby New York City. And if you plan to do a lot of shopping at your destination, don’t forget that haggling is widely accepted, especially outside of the US. Take advantage of some of the best negotiation techniques to score a great deal on those must-have items!

Perhaps the most important tip I have is taking advantage of your miles, especially if you’re a frequent flyer. Assuming you can pay your credit card off in full every month, you need to be taking advantage of the best travel rewards credit cards. You can’t be giving up free miles, points, and cash on your airfare purchases! Also, take advantage of sign-up bonuses on these cards as well. For example, the Chase Freedom credit card currently offers $200 cash back for new users, and will offer up to 5% cash back on airfare purchases.

Stay tuned next week for the final installment of this series, when the Money Crashers highlights the best smartphone apps for travelers…