Business Travel On A Tight Budget

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Business trips can cost companies a lot of money. Whilst most companies try to set an allowance for them and their employees, it’s inevitable that people will spend as much of this allowance as possible. You can set a very low budget to try to discourage excessive spending, but this could result in poor travel conditions that make your employees feel undervalued. As a result, you need to find other ways decrease spending. Here are just a few tips for keeping business travel costs down whilst still allowing you and your employees to travel in comfort.

Book in advance – not last minute

Whilst you can get last minute deals on flight and hotels, there’s never any guarantee on this – hotels and flights could become booked up forcing you to resort to more expensive options. You’re much better off booking in advance, allowing you to take advantage of early bird deals. Some airlines such as Etihad Airways also allow you to pay for flights in instalments when booking ahead, helping to make it more affordable. You can take control of booking these flights or you can try encourage your employees to book by a certain date to ensure that they don’t end up paying premium fees out of your travel budget.

Take advantage of group discounts

When it comes to group business travel, it’s worth looking out for group discounts. Accommodation such as this hotel near Taylor County Expo Center, Abilene, Texas offers group discounts to those travelling on business purposes – this could be useful if you’ve got a trade fair lined up. There are meanwhile some airlines that also offer group discounts for those travelling on business purposes.

Encourage employees to save money on trips with incentives

Many employees won’t see the point of saving money when given an allowance. However, you can encourage employees to spend less on their allowance by offering incentives to do so. This could include giving a bonus to the employee that saves the most on travel expenses. You could even roll over some the savings into a joint account that is then shared amongst everyone at the end of the year – your employees may feel guilty for spending all their allowance if they know that it will affect the rest of the team’s overall annual bonus.

Consider whether you really need to travel

Business travel is sometimes necessary for certain events, but there can be other times when it’s an unnecessary luxury. Conferences and meetings can now be conducted via video-communication – this could allow you to host presentations to people on the other side of the country (or indeed the other side of the world) without having to do any travelling. The glamour of travelling can be exciting for you and your employees, but you may not actually be achieving anything that you can’t do from your desk.

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Money Strategies Of The Rich And Famous

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Wouldn’t it be great to be a millionaire and earn a seven-figure salary each year? What would you do with all that money?

Most of us dream of being able to buy whatever we want. Earning a millionaire’s wage would make a luxury lifestyle more affordable and we would probably never have to go to work again. We could simply deposit our millions into a savings account and live off the interest. But that’s not the only reason why some people dream of being extravagantly rich. They also crave that cash as it will provide them with fantastic financial security. They won’t ever have to worry about medical bills or paying for any emergencies that might crop up in life.

Wouldn’t it be great if we could also live with this level of security? Well, you might be surprised to hear that it is entirely possible, no matter how much you earn each year. As long as you are careful and sensible with your cash, you will be able to build up a nice little pot of savings in no time at all. And, as long as you make well-informed investment decisions, you will easily be able to make that money work for you. Eventually, your savings and investments could grow to a very healthy sum indeed!

Wondering how you can get to that point? You just need to use some of the same money strategies that the rich and famous have. You might think that you don’t really have to do much money management once your income and savings are over a certain amount. That really isn’t the case, though, as most millionaires need to be on the ball to ensure that they aren’t losing any cash in any way or that their savings aren’t inadvertently depreciating in value. So, ready to manage your money as if you were rich and famous yourself? Here are some of the best strategies you can adopt. You never know, they might help you make a pretty penny yourself!

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Diversify Your Investment Portfolio

First of all, you need to think about diversifying your investment portfolio. This means that you need to invest your money in a few different sources. It will be much better protected when it is split across these different pots, so to speak. That’s because you won’t lose too much cash if only one of the investment does quite badly. For instance, if you invest in both property and some funds, it won’t matter if your funds start to depreciate slightly. That’s because your property investments will continue to do well and can help prop up your whole investment portfolio. However, had you only stuck to investing in funds, then you could stand to lose the bulk of your investments! So, if you are new to investing your money, you should take a look at the property news today as well as latest information on the stock market and other sources of investments. You can then figure out which are currently the most strongest, and you can then split your money across these different pots!

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Look For Multiple Income Streams                                                                                                  
It’s also a good idea to consider multiple income streams. This is possible even if you currently have a full-time job. And don’t worry - it doesn’t mean that you will need to find another part time job on top of your full-time one! In fact, the best way to go about this is to build up a passive income that you can manage around your regular work. There are quite a few ways to go about this in the modern world. For instance, you might want to start blogging. After a few months of regularly posting new articles and blog posts on your site, you will be able to try and monetize it. For instance, you will be able to offer advertising space and sponsored posts to brands and companies. Another great way to earn a second income is to set up an online shop on the likes of Etsy or eBay. No matter how you make some extra money alongside your full-time income, you will find that your overall financial situation will be greatly supported. Another great way to earn income is by writing a blog in skills you specialize in. To start your own read here.

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Use A Financial Advisor                                                                                                                       
Do you think that the rich and famous have got to where they are today because they are experts when it comes to money? Think again! Sure, some of them are savvy with their finances, but most of them just rely on the expert advice of their trusted financial advisor. Don’t worry; the majority of financial advisors aren’t too expensive to hire. They will only charge for the work that you ask them to do, so you don’t need to pay one a retainer. But it’s worth checking in with one every time you are considering a new investment. They will be able to look over your options and current financial situation and then advise you as which is the best one to go with at the minute. If you want, you can also hire your advisor to manage your investments for you so that you don’t always have to worry about them. Financial advisors can also help you apply for mortgages and find a pension, so you’re covered with all kinds of financial support!

Speculate To Accumulate

Have you already heard the saying that you need to speculate to accumulate? This is something that most millionaires live by. It makes sense if you think about it carefully - the more you invest, then the more you stand to make. That’s because you will have more in investments that will make you money. So, it makes sense to be confident with your investments and put in as much money as you can. Of course, that doesn’t mean that you need to always take big risks. There are lots of investments out there that are fairly safe and won’t leave you risking too much money. Take property, for instance. If you can afford to speculate in the property market, it is worth doing so, as you stand to make some strong returns in a market that is rarely volatile.

Go For Emerging Markets

While you don’t need to take risks with your money if you don’t want to, it might make sense to take a few small ones. Millionaires are quite good at taking risks. In fact, some of them are pros at finding the best new investments to make before everyone else jumps onto the bandwagon. For instance, you should consider investing some of your cash into emerging markets. This is the sector that is taken up by new industries and startups. If you have a keen eye for seeking out the best new markets that are opening up, then you stand the best chance of making some cash before everyone else rushes to invest in them as well. Generally speaking, most industries will make the best returns on your investments in their early stages while corporate investors are pushing a lot of cash into them. So, as you can see, it really does pay to get there early!

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Don’t Forget Commodities

One investment that many people overlook is commodities. Commodities are physical assets that we use in our everyday life. For instance, coffee beans, wheat, and sugar are all big commodities as they are in such high demand around the world. Don’t worry, though, you don't have to start buying the commodities in wholesale and then sell them to make your profit. You can instead invest in the companies that manufacture and supply them. Commodities are always going to be in demand so are a very lucrative investment option. This is something that millionaires are very much aware of, and the majority of them have a number of commodity investments in their portfolio.

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Chase The Interest

One mistake that most beginner investors make is that they don’t chase after interest. When you open a bank account, you will be told its interest rates. These will differ between the various banks, and each bank will also offer different interest rates on their various accounts. So, it makes sense to go for the bank account that offers the highest interest rate when you open a new one. However, don’t forget that these rates fluctuate and the banks are always bringing out new accounts with new rates. So, it’s always important to keep an eye on what the banks are doing and where you might be able to get a better rate of interest. If it looks like you might be better off moving your money to a new bank, don’t be afraid of doing so. Chasing the interest like this can help support your savings and make them work for you.

Don’t Be Impulsive

Even though millionaires can afford to buy whatever they want, they rarely do. They know that being impulsive could quickly eat into their savings and weaken their financial position. So, try not to be impulsive when it comes to your finances.

Hopefully, all of these strategies can help improve your own finances!

Where To Getaway This Winter

When it gets cold and you’re looking for somewhere to go to escape the concrete jungle, why not go to one of these places for a weekend escape? Whether it’s for cold weather or hot weather adventures, here’s where we recommend.

Where To Getaway This Winter

Miami, Fl.

What better way to get away from the cold and brisk air than with in Florida? Miami has some of the best beaches, colourful nightlife, and popular shopping that caters to pretty much everybody. Take a walk around Coral Gable to marvel at the Mediterranean Revival architecture or head to one of the relaxing spas at Miami beach like the two level Lapis Spa at the Fontainebleau Hotel. For a little cultural exploration, head to Little Havana where you can try Cuban cuisine at restaurants like El Exquisito or La Palma Calle Ocho.

Where To Getaway This Winter

 

Lake Placid, NY.

If you want to get to a snowy climate this winter, try going to Lake Placid. Don’t let the name deceive you; there’s more than just a lake. Before the snow falls and winter sets in, you can go rock climbing, cycling or hiking in the Adirondack Mountains. When the snow sets in, go ice skating on Mirror Lake, sledding, tubing or tobogganing at Kiwanis Teddy Bear Park or Lake Placid Toboggan Chute. For those feeling really adventurous, go Adirondack Ice Climbing. These are a few of the activities you can partake in at Lake Placid.

Where To Getaway This Winter

Philadelphia, PA

This is where much of the history of the United States happens from the signing of the Constitution to the location of the Liberty Bell. Philadelphia is a walking city and there’s plenty to see. If you’re going for the holidays, check out City Hall speckled with the official tree decked with lots of lights and ornaments. The Love Park is an essential visit and it hosts the Christmas market with over 80 booths from local and international markets. The Reading Market is also a great place to go if you’re looking for something to eat or wander around in while you’re looking for something to eat. If you’re looking for something cultural, walk around the Philadelphia Museum of Art, the Please Touch Museum, or Independence Hall.

Where To Getaway This Winter