Free Coffee for your birthday!

I just discovered by getting and registering gift cards from both Dunkin Donuts and Starbucks you get a free drink on your birthday. You also get a few coupons and other perks but I focus on the free stuff!

This is great since my birthday is not far away. I like coffee on the road and need it sometimes for long days at the office...like Mondays!

I already had a Dunkin card so I registered it. I got a $5 card from Starbuck (which I will eventually use on the road for work anyway) so I can cash in the free perk too.

Free is good!

Adding an extra payment per year to my mortgage

Starting this month I have increased my mortgage payment. The math works out to be an extra payment's worth each year spread out over 12 months. I used an online calculator such as this one to figure out that it will reduce the length of my mortgage by 4 years!

This move will save me $9,376.02 in interest over the life of the loan. That is well worth the small increase each month. Worst case I can go back down to the minimum payment if I have to during times of need. To have an extra ~9 grand in my pocket over the years is a nice incentive to get ahead.

This is the next step in my debt snowball. I was debating whether to invest/save more or pay down debts faster and struck this balance. I am focusing heavily on my savings goals but also working my debt down too. The sooner payments are gone the less I require to live!

Back on the road: A few little travel tips!

I am in the Baltimore/DC area today and tomorrow for work. I flew up this morning and will be meeting with a client tomorrow before heading back home tomorrow night. Luckily this is work travel so I get to earn miles, per diem, hotel points, and other little benefits. It is also a nice change from the office for 2 days.

When I am on the road, especially for work, I find little ways to save money. Since I have to eat out almost 100% of the time while on the road I have gotten creative. Here are a few ideas that I use regularly:

• Hotel bar/restaurant: Sometimes pricey, sometimes not. Today my hotel is offering 50% off appetizers between 4 and 7PM. Not bad! Being solo I can get a meal for under $10 based on the menu prices. Bonus I don't even have to drive!
• Find a hotel with cheap restaurants nearby. Do a little searching on yelp and google to see what is close. I also use my phone when actually there to narrow down my options based on distance and price. Sometimes I find some great local places I would have missed otherwise.
• Carry coupons: I have a few that I keep in my bag for chains like Chipotle, Subway, Quiznos, etc. If I happen to be near one I can stop in with coupons and spend less. The less I spend the more of the per diem I get to keep!
• Grab snacks from the grocery store at home and bring with me in my carry on bag. I don't have to stop for expensive gas station snacks. I have them with me already! Worst case I eat them when back home. I like crackers, nuts, and candy bars as they take little space and don't weigh much.
• Hotel Room: I always try to get one with a fridge/microwave and free internet access. It is nice to have the option of going to a grocery store if I want. If I am gone for more than one night this is even more important. Free internet allows me to be entertained and get things done while away. 

Traveling for work doesn't have to drain the wallet. In my case I actually make money off the per diem and also earn extra miles for the business expenses that get reimbursed to me. All of this adds up over time and allows me to travel overseas for awesome vacations to Asia and beyond. Make the most of it!

Priceline.com Success: 3-star hotel for $75!

I have to use Priceline at work a lot for our business travel hotels. Today I booked my hotel in Portsmouth, NH for my upcoming travel and used their famed "name your own price" tool.  It worked and I landed a $140 room for $75.

I have had good success with this tool in the past. I have used it for myself to get a hotel room in New York City for $99 on multiple occasions. My company has used it nationwide to book rooms all over. It really is a money saver!

When I begin my search I try to see what the going rate for lower level rooms are (I always go for under $100 per night everywhere). I then submit a bid at the lower level room rate ($75 in this case) for a 3+ star hotel. Sometimes I get it. Other times it suggests a higher bid or gives your a "one time offer" of the price they really wanted.

Overall I think priceline is excellent for hotel deals. I personally believe it helps to "name your own price" when it is closer to your travel time as hotels like to fill otherwise empty rooms. If you are a week out from the travel they know that it is unlikely they will fill the room at the full rate anyway in a short time period. This is where you win!

Tips from life on the road

Traveling for work isn't without expense. Eating out all the time costs money. It takes a lot of energy to travel for 2 days back to back. There is always the hassle of finding somewhere appealing to eat without breaking the wallet and on top of that it is usually alone. Then you have to entertain yourself and that usually requires some expense too.

I do get a per diem for meals but depending on where I got I can bank some of the money or go into the red. Today I am in New York City and I will be happy to break even on the per diem. There is just too much to do in the city that never sleeps and I always find myself spending more than usual. It would be OK if I earned a New York level salary but coming from Atlanta is a different story.

My best tricks to combat this expense are fairly simple. I ask people who live or who have lived where I am going for the best reasonable places to eat, what to avoid, and what to look out for. I do some research online and check out all the various "group coupon" sites for deals that I can utilize while there. If I am really not sure I have my "staple" places to go to such as Wendys, Subway, and a few others where I know about what the prices should be.

The airports is where you get thrown over the counter for food. I try my best to eat before I get there but in a rush I sometimes don't have a choice. The best thing you can do in that situation is get a main entree such as a sandwich and seek out the vending area for drinks. Vending is always the cheapest for drinks as they don't charge tax and have the lowest prices to boot. Some airport vending machines even take credit cards!

Saving money while on the road is a challenge but can be largely simplified by pre-planning. I always get hotels with free wifi, I book flights so I have time to spare, and I try my best to stick to my meal budget. Overall I come out ahead on my per diem and have lots of miles to use for travel on top of that! Life on the road can cost money but can also create money if you do your homework.

How to stay frugal at the airport

We all know that travel is expensive. Especially air travel. There are many costs in flying that most of us don't think about. First there is the cost of getting to the airport. Next you have baggage fees (if you don't pay them in advance). Once through security you might want a drink or need to have a meal. These both are much higher in the airport.

I have some tips that help combat this. I will address each one above.

• Getting to the airport costs include: gas, parking, train fare, taxi etc. Explore all your options. Compare total cost of daily parking versus train, bus, or taxi. You will be surprised how much it costs!
• Baggage Fees: If you are not "elite" with the chosen airline you most likely have to pay for checked luggage. The best avoidance is to not check a bag. If you do need to check a bag a lot of airlines offer a cheaper rate if you prepay the fee online.
• Food and Drink at the airport: Use the free water fountains. The restriction on security is for liquid. You can bring 50 sandwiches if you want. Bring your pre-made meals or snacks with you. If you must buy a drink the vending machines are usually cheapest. If you want alcohol look into a day pass cost for the business lounges (open bar) versus how much a drink is at the terminal bar.

No matter how you slice it travel costs money. Following the tips above can "reduce the damage" if executed well. Traveling can be expensive but that does not mean it has to be. Happy travels!

Tips for increasing gas mileage

Since I am on vacation 6 hours away from my home in Atlanta I did some digging to see what I could do to make my drive smoother, safer, and cheaper. These steps are simple and easy for anyone to do! A little maintenance goes a long way with cars.

Steps to take to increase life and efficiency of your car:

• Change Oil on Schedule: A well oiled machine works best. This also means the oil should be changed according to your car's manual specifications. In general it is 3,000 miles for regular oil and 5,000 for synthetic.
• Keep Tires Properly Inflated: low pressure in your tires means the engine has to work harder to move the car. Keeping them properly inflated increases gas mileage. It also makes it safer to drive!
• Run Air Conditioner Less: You can save gas by manually turning the air on and off as you need it. Leaving it on all the time burns more power and gas.
• Change Brakes When Squeaky: Change the brake pads when they start to squeak. The squeak is an indicator built into the pads to let you know they are low and need changing. Waiting too long leads to much more costly repairs on your brake system
• Tune Up on Schedule: Having tune ups done as recommended by your car's manual prevents a lot of expensive repair by changing fluids, belts, and other inexpensive parts before they wear completely out. 
• Accelerate Lightly: Flooring the pedal after each red light burns more gas. It is also rougher on the engine and transmission. Lastly, it is also unsafe to "gun it" all the time.

Performing the above regular maintenance on your car not only saves money but keeps you and your family safe. You also head off a lot of expensive repairs down the road by preventing the problems to begin with! You invest a lot of money into your car and you should take care of it to get the most return from that investment!

Things to consider when starting your own business

I am in the process of starting my own IT consulting business as a part time gig. I have been doing research into the local market and am sure I can make some extra money doing it. I have also discovered that owning your own business is a lot bigger commitment than most people realize. Here are a few things to weigh if you are thinking of venturing out on your own:

• Taxes: Any income you make is not only taxed at the federal and state and local level but you must also pay the full amount of FICA (Social Security and Medicare) tax on it. This amounts to 15.3% of the income on top of normal taxes!
• Time: You have to factor in that not only will you be spending time on doing the actual work but also marketing, accounting, errands, phone calls, sales, etc. Make sure you have the time to do it all or can afford to pay someone to help you!
• Savings: If you are venturing out on your own full time you need 1 year's of living expenses saved over and above your emergency fund. I recommend this to total 18 months of living expenses to be on the safe side. You also have to keep up this amount at all times!
  
• Office Space: You need to have a proper office space in your home dedicated to just business. A rented office is even better but not always feasible. It helps to keep you organized and allows you to separate home from work (very important!).
• Dedication: You have to be behind your ideas and your business 110%. If you can't put in the time and effort to be successful you should look at other options. It is not easy to run your own successful business and keep it running!

If you can agree to all the things listed here it may be worth a try to have your own business. I suggest starting part time at first before quitting a job. Allow it to grow to the point where you have to quit in order to keep it going and go for it! It is not easy but can be very rewarding both financially and emotionally!

Problem: You are battling credit card debt but must have one for work

I have been working as a traveling project manager for over 2 years now. One of my conditions of employment is that I must have a credit card that I use for business expenses and get reimbursed. This is great because I get to earn rewards from the card but also tough as I am paying off credit card balances as well from the past.

A lot of get out of credit card debt guides say you should cut up all of your cards and use cash. I am writing this article for those of us who do not have that luxury. Some of us simply must have at least 1 credit card due to work requirements.

Solution:

My approach to this issue is to have one card that is $0 balance and stays free of any personal debt or purchases. Once you start mixing business transactions with personal debt balances you can get into a messy high interest situation. If you are carrying a balance on the card then you will also pay interest on the business transactions too. This can skyrocket fast!

Personally I have 1 American Express card that I use for business expenses only. This makes it really easy to see how much the company owes me at any one time. Once I get my check for reimbursement it also makes it easy to find a discrepancy, if any. If what I get doesn't match the card balance then something is definitely off. Mistakes do happen and you could end up paying for a business expense. Be sure to watch it closely!

It is great to be able to earn reward points for business purchases which can be used later on for gift cards, travel, cash back, or just about anything you like. With a wide variety of rewards cards out there you have endless options available to you. Using this strategy of a dedicated card for business will make paying of debt easier to track and less headache in the long run.