Best way to pay for expenses?
Discussion
I've got a month away with work, I'll need to pay for my fuel and meals and be able to claim it back after.
I'm not in a position to pay outright and then claim it all back after and pre-payment isn't an option.
I'm thinking of a 0% credit card with a low limit (enough to cover the expenses). It will be around £400 for meals plus maybe £200 in fuel. Ideally if I can get a credit card with money back that would be even better.
Is there another way that I'm not looking at?
I'm not in a position to pay outright and then claim it all back after and pre-payment isn't an option.
I'm thinking of a 0% credit card with a low limit (enough to cover the expenses). It will be around £400 for meals plus maybe £200 in fuel. Ideally if I can get a credit card with money back that would be even better.
Is there another way that I'm not looking at?
Have you asked if you can have a float? As in have a sum of money paid up front for expenses (say £500) that is deducted from your final pay check when you eventually leave the company.
Years ago I had a team of 100 engineers and managers and this worked well as it meant no one was out of pocket including those very hard up who could barely afford their own fuel to get to work let alone hotels away etc.
Years ago I had a team of 100 engineers and managers and this worked well as it meant no one was out of pocket including those very hard up who could barely afford their own fuel to get to work let alone hotels away etc.
Doesn’t even need to be a 0% one as you don’t get charged intrest for up for 56 days
I would just go for what ever reward card you will find useful, I have a NatWest 1% back at supermarkets and 0.5 everywhere else, it’s good as it’s cash, and I don’t shop at Tesco or Asda so theirs is no good to me, Amex is decent but you get the money off your bill
I would just go for what ever reward card you will find useful, I have a NatWest 1% back at supermarkets and 0.5 everywhere else, it’s good as it’s cash, and I don’t shop at Tesco or Asda so theirs is no good to me, Amex is decent but you get the money off your bill
You'll be spending more than £600 for a month on expenses.
I work away fairly regularly, and now opt for self catered over hotels even then its surprising how bills can mount when you arnt footing the bill. If you're eating out every evening it soon mounts up.
I've always done it on a credit card. However some firms can pay an advance. And/or you may be able to submit maybe 2 weeks of expenses.
We use concur expense app, top tip, keep on top of your receipts. Nothing worse than sorting the claim out at the very end.
I work away fairly regularly, and now opt for self catered over hotels even then its surprising how bills can mount when you arnt footing the bill. If you're eating out every evening it soon mounts up.
I've always done it on a credit card. However some firms can pay an advance. And/or you may be able to submit maybe 2 weeks of expenses.
We use concur expense app, top tip, keep on top of your receipts. Nothing worse than sorting the claim out at the very end.
Simpo Two said:
As your employer is enforcing this cost on you can they not come up with something - company credit card, cash advance?
For the future, try to have £600 spare cash in the bank. Black is better than red
Trust me I wish I was in a position to have £600 spare, but car insurance, bike insurance and tax and MOT for both has been a bit sFor the future, try to have £600 spare cash in the bank. Black is better than red
t this month. MikeStroud said:
Have you asked if you can have a float? As in have a sum of money paid up front for expenses (say £500) that is deducted from your final pay check when you eventually leave the company.
Years ago I had a team of 100 engineers and managers and this worked well as it meant no one was out of pocket including those very hard up who could barely afford their own fuel to get to work let alone hotels away etc.
Not an option sadly. Some departments get a credit card but not mine it seems. Years ago I had a team of 100 engineers and managers and this worked well as it meant no one was out of pocket including those very hard up who could barely afford their own fuel to get to work let alone hotels away etc.
Funny username said:
Credit card. Plenty of 0%ers out there.
Even if you had the cash available to spend, why on Earth would you spend your own?
Just got a 23 month one with Tesco. Get some extra club card points as well which we can swap for days out. We also shop there so works out best.Even if you had the cash available to spend, why on Earth would you spend your own?
Nickbrapp said:
Doesn’t even need to be a 0% one as you don’t get charged intrest for up for 56 days
I would just go for what ever reward card you will find useful, I have a NatWest 1% back at supermarkets and 0.5 everywhere else, it’s good as it’s cash, and I don’t shop at Tesco or Asda so theirs is no good to me, Amex is decent but you get the money off your bill
Ah didn't realise that! I thought it was a month. I would just go for what ever reward card you will find useful, I have a NatWest 1% back at supermarkets and 0.5 everywhere else, it’s good as it’s cash, and I don’t shop at Tesco or Asda so theirs is no good to me, Amex is decent but you get the money off your bill
Rob_125 said:
You'll be spending more than £600 for a month on expenses.
I work away fairly regularly, and now opt for self catered over hotels even then its surprising how bills can mount when you arnt footing the bill. If you're eating out every evening it soon mounts up.
I've always done it on a credit card. However some firms can pay an advance. And/or you may be able to submit maybe 2 weeks of expenses.
We use concur expense app, top tip, keep on top of your receipts. Nothing worse than sorting the claim out at the very end.
Nah wont be more. Allowed £24 a day on meals (breakfast is already paid for). Hotel is sorted by them already (got to pick that one which I wasn't expecting!). Plus fuel (which is paid at 45p a mile). I work away fairly regularly, and now opt for self catered over hotels even then its surprising how bills can mount when you arnt footing the bill. If you're eating out every evening it soon mounts up.
I've always done it on a credit card. However some firms can pay an advance. And/or you may be able to submit maybe 2 weeks of expenses.
We use concur expense app, top tip, keep on top of your receipts. Nothing worse than sorting the claim out at the very end.
Oh just seen its £15 a day to park there! Jesus.
LosingGrip said:
I've got a month away with work, I'll need to pay for my fuel and meals and be able to claim it back after.
I'm not in a position to pay outright and then claim it all back after and pre-payment isn't an option.
I'm thinking of a 0% credit card with a low limit (enough to cover the expenses). It will be around £400 for meals plus maybe £200 in fuel. Ideally if I can get a credit card with money back that would be even better.
Is there another way that I'm not looking at?
As it sounds like you are reasonably junior level (no offence* meant !!) if you can't afford that (which is absolutely fair enough) I would be asking the company to front it, or to provide you a business credit card for use while you're working awayI'm not in a position to pay outright and then claim it all back after and pre-payment isn't an option.
I'm thinking of a 0% credit card with a low limit (enough to cover the expenses). It will be around £400 for meals plus maybe £200 in fuel. Ideally if I can get a credit card with money back that would be even better.
Is there another way that I'm not looking at?
To expect you to get into debt (even if it is short term) is unacceptable and no business should be putting you in that position
LosingGrip said:
Is there another way that I'm not looking at?
Meals out, are you on your own, could a colleague or boss with you pick up the tab our policy used to be most senior paid the bill for meals.
You are not alone in not being able to have sufficient “headroom” it was quite common that we encountered someone without credit cards etc that just couldn’t suddenly fund a weeks hotel. accounts dept could have a way to give you an advance if you give them plenty notice.
If you want to get a credit card, do so especially if you are going to be doing this again.
AMEX Gold Card, free for 12 months, rake up the sign up bonus points, pay it off in full each month and you'll have hundreds of pounds worth of points for free which you can convert to airfare upgrades, hotel night stays or amazon vouchers* *less value in amazon vouchers vs hotel/airfare upgrades.
It's £160 a year from Y2 but you can downgrade it to the free card and keep your points. I've referred a fair few of my friends to it and they've all made a good few quid from it.
It's £160 a year from Y2 but you can downgrade it to the free card and keep your points. I've referred a fair few of my friends to it and they've all made a good few quid from it.
Couple of points.
I used to work away a fair bit and some times the expenses were not claimable, it was my own company.
So I didn't want to spend too much. Also I don't want to live on pub food or burgers.
I used to eat a lot of sandwiches and portions of salad from the supermarket or corner shop.
Sometimes went to the chip shop.
Ate Ginster's Pasties.
Mate of mine used to live on Pot Noodle in his hotel room half the time.
Quite often went to the pub, never put the beer on the receipt you're going to claim on. Unless you know for sure the company is OK with that!
Depending on what the work was, sometimes we'd eat in the client's staff canteen cheaply.
Some places would pay £15 for an evening meal with no receipt, so you can eat cheap a couple of nights then go for a decent curry.
Know the system! It varies from place to place.
Regarding credit cards, it's 'up to' 56 days, that means I spend on it on the 17th, it's on my bill on the 15th of the next month, then I have to pay the whole bill by the 14 th of the month after to not pay interest.
But if I spend on the 12th, I have to pay the bill by the 14th of the month after. As little as 30days!
Some people run two credit cards, with the bill dates about 2 weeks apart.
It often takes a while to extract the cash from your company.
So keep right on top of the expenses and get the claim in quickly.
If you are late paying a card and pay interest, then don't use that card for anything else, you need to pay it right down to zero to avoid rolling interest on everything. So two cards is good.
Also if you're going to travel a lot I used to like to have one Visa and one Mastercard at least, just in case one network broke. Not sure it still works like that?
Sometimes a bit of give and take goes a long way in company politics. Make a few quid here and there but don't whine the odd time you have to buy your own dinner.
I used to work away a fair bit and some times the expenses were not claimable, it was my own company.
So I didn't want to spend too much. Also I don't want to live on pub food or burgers.
I used to eat a lot of sandwiches and portions of salad from the supermarket or corner shop.
Sometimes went to the chip shop.
Ate Ginster's Pasties.
Mate of mine used to live on Pot Noodle in his hotel room half the time.
Quite often went to the pub, never put the beer on the receipt you're going to claim on. Unless you know for sure the company is OK with that!
Depending on what the work was, sometimes we'd eat in the client's staff canteen cheaply.
Some places would pay £15 for an evening meal with no receipt, so you can eat cheap a couple of nights then go for a decent curry.
Know the system! It varies from place to place.
Regarding credit cards, it's 'up to' 56 days, that means I spend on it on the 17th, it's on my bill on the 15th of the next month, then I have to pay the whole bill by the 14 th of the month after to not pay interest.
But if I spend on the 12th, I have to pay the bill by the 14th of the month after. As little as 30days!
Some people run two credit cards, with the bill dates about 2 weeks apart.
It often takes a while to extract the cash from your company.
So keep right on top of the expenses and get the claim in quickly.
If you are late paying a card and pay interest, then don't use that card for anything else, you need to pay it right down to zero to avoid rolling interest on everything. So two cards is good.
Also if you're going to travel a lot I used to like to have one Visa and one Mastercard at least, just in case one network broke. Not sure it still works like that?
Sometimes a bit of give and take goes a long way in company politics. Make a few quid here and there but don't whine the odd time you have to buy your own dinner.
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