How much money do I need to for travel on my first job?
I’m asked this question often. My typical answer is around $1,000. This can be a sizeable amount for a student starting a new job.
One thing you can do right now is get a prepaid debt card and add any amount you can spare until you begin work, like a Tango or Greendot card. This ensures you have immediate funds when beginning your first job as well as relieve the burden of needing to obtain the $1,000 suddenly. When choosing a prepaid debt card make sure you read if there are annual or monthly fees, an expiration date and all the fine print that may reduce your deposit.
Your main expenses are fuel, hotel and food. A few ways to reduce these expenses are
*carpool
*room share
*hotel rewards programs
Some people prefer to split driving and fuel for a single trip and others prefer to do all the driving and purchase all the fuel one week and rotate the next.
You can split hotel costs with one or two additional co-workers. Some people bring an air mattress so you can sleep three to a room and some hotel chains will provide a roll away bed. Also take advantage of hotel chains that give a discounted room rate for employees of a registered business, or become a member of their rewards program. Be sure to get rewards cards for as many hotels as you can, as some hotel chains won’t be in all cities you work in. Factor in what you might save in food costs with a hotel that serves continental breakfast.
Keep in mind that when you sign up for a rewards card with one brand it is used for multiple chains. For instance, when you sign up with Marriott your card may be used at
Courtyard, Residence Inn, Towne Place Suites, Fairfield Inn & Suites and others. Use due diligence when searching for the best rate. The internet, hotel booking websites or contacting co-workers are good resources when trying to find the best rate.
Below are hotel links where you can join their rewards program. Many of the rewards programs offer free nights, or you can gain points per dollar spent and redeem points on your choice of item from their rewards catalogs.
Making your own meals will also reduce expenses. Purchasing from a convenience store every morning and fast food every night adds up quickly as well as wreak havoc on your health.
One more thing of note that I cannot stress enough is keep good records. Maintain a written log of miles driven. If your employer doesn’t pay the national average for miles driven you may be entitled to a tax deduction. Also keep hotel and meal receipts as this may provide you with an additional write-off if your per diem is less than your expenses. This is not a guarantee that you are entitled to a tax write-off. Please consult a tax professional.
Hotel Rewards Programs:
Best Western
http://www.bestwestern.com/rewards/earn/
Choice Hotels
https://secure.choicehotels.com/ires/en-US/html/GPMApplication
Hilton Honors
http://hhonors3.hilton.com/en/index.html
Marriott
http://joinmarriottrewards.com/Friend/us/enroll.aspx?promo=MGMD&ref=e42ac6d8-1d12-4782-b622-cb7c7545b1d1
Priority Club Rewards
https://www.ihg.com/priorityclub/rewards/us/en/join/register?offerId=WHERO&cm_sp=IMMerch-_-PC2_US_en-_-Hero_Rev_Anon_JoinPCR
Wyndham Rewards
https://www.wyndhamrewards.com/trec/consumer/home.action?variant=us
I’m asked this question often. My typical answer is around $1,000. This can be a sizeable amount for a student starting a new job.
One thing you can do right now is get a prepaid debt card and add any amount you can spare until you begin work, like a Tango or Greendot card. This ensures you have immediate funds when beginning your first job as well as relieve the burden of needing to obtain the $1,000 suddenly. When choosing a prepaid debt card make sure you read if there are annual or monthly fees, an expiration date and all the fine print that may reduce your deposit.
Your main expenses are fuel, hotel and food. A few ways to reduce these expenses are
*carpool
*room share
*hotel rewards programs
Some people prefer to split driving and fuel for a single trip and others prefer to do all the driving and purchase all the fuel one week and rotate the next.
You can split hotel costs with one or two additional co-workers. Some people bring an air mattress so you can sleep three to a room and some hotel chains will provide a roll away bed. Also take advantage of hotel chains that give a discounted room rate for employees of a registered business, or become a member of their rewards program. Be sure to get rewards cards for as many hotels as you can, as some hotel chains won’t be in all cities you work in. Factor in what you might save in food costs with a hotel that serves continental breakfast.
Keep in mind that when you sign up for a rewards card with one brand it is used for multiple chains. For instance, when you sign up with Marriott your card may be used at
Courtyard, Residence Inn, Towne Place Suites, Fairfield Inn & Suites and others. Use due diligence when searching for the best rate. The internet, hotel booking websites or contacting co-workers are good resources when trying to find the best rate.
Below are hotel links where you can join their rewards program. Many of the rewards programs offer free nights, or you can gain points per dollar spent and redeem points on your choice of item from their rewards catalogs.
Making your own meals will also reduce expenses. Purchasing from a convenience store every morning and fast food every night adds up quickly as well as wreak havoc on your health.
One more thing of note that I cannot stress enough is keep good records. Maintain a written log of miles driven. If your employer doesn’t pay the national average for miles driven you may be entitled to a tax deduction. Also keep hotel and meal receipts as this may provide you with an additional write-off if your per diem is less than your expenses. This is not a guarantee that you are entitled to a tax write-off. Please consult a tax professional.
Hotel Rewards Programs:
Best Western
http://www.bestwestern.com/rewards/earn/
Choice Hotels
https://secure.choicehotels.com/ires/en-US/html/GPMApplication
Hilton Honors
http://hhonors3.hilton.com/en/index.html
Marriott
http://joinmarriottrewards.com/Friend/us/enroll.aspx?promo=MGMD&ref=e42ac6d8-1d12-4782-b622-cb7c7545b1d1
Priority Club Rewards
https://www.ihg.com/priorityclub/rewards/us/en/join/register?offerId=WHERO&cm_sp=IMMerch-_-PC2_US_en-_-Hero_Rev_Anon_JoinPCR
Wyndham Rewards
https://www.wyndhamrewards.com/trec/consumer/home.action?variant=us