She Strengthens

The Hidden Financial Realities of Business Travel

As a marketing specialist living in Paris, I thought I had struck gold when I landed a job that involved international travel. My employer would cover all expenses, and I’d get to explore new destinations while getting paid. But, as I soon discovered, business trips can be a financial minefield.

The False Sense of Security

When I traveled to Berlin and South Africa, I was given a travel advance, which gave me a false sense of security. I spent more than I had, thinking I had plenty of money in my account. But, when I had to pay back my employer, my bank account went into overdraft. I learned the hard way that keeping track of expenses can be tricky, especially with international credit card operations.

Unforeseen Expenses

Before my trips, I incurred unexpected expenses that my employer wouldn’t cover. I bought compression tights, painkillers, and band aids for the Berlin fair, and a new suitcase for my South Africa trip. These expenses added up to $82, which wasn’t budgeted. I realized that it’s essential to factor in these extra costs when planning for business trips.

The Importance of an Emergency Fund

Having an emergency fund is crucial, especially when traveling internationally. If you need to make last-minute changes to your itinerary or cover unexpected expenses, you’ll need a financial safety net. I was lucky to have a travel agency to rely on, but in smaller companies, you might need to dip into your own emergency fund.

The Dangers of Impulse Shopping

Long working hours and limited free time can lead to frustration, which can trigger impulse shopping. During my trips, I didn’t have much time to explore the cities, and I ended up splurging on souvenirs and useless items. I learned that it’s essential to budget for personal expenses and set aside time for self-care during business trips.

Lessons Learned

Business trips may seem like a perk, but they require careful planning and budgeting. It’s essential to factor in unforeseen expenses, have an emergency fund, and avoid impulse shopping. By being more mindful of my finances, I can make the most of my business trips and enjoy the experiences without breaking the bank.