Once a year I audit my business expenditures. I find that if I don’t pay attention to my expenses, I might be spending more than needed to run my business.

Internet and Phone

Recently, I become frustrated with my Internet/ phone provider. Internet speed was getting slow and an upgrade with my provider did not improve things. I shopped around and found another provider that offered faster speeds for less money. Also, the new provider has a phone plan with several hours of international calling, which will save me money.

Additionally, I switched cell phone providers several years go to one that doesn’t charge for data roaming in many countries. The speed is slower than what I get at home, but it is more than adequate for checking email and making calls home—and I have the option of Wi-Fi. Calls home are a reasonable 20 cents a minute and calls to another phone from the same company (T-Mobile) are free.

Subscriptions

Like many of my fellow agents, I subscribe to services that make my workday easier. I have an annual subscription to Travel 42, which gives me access to hotel reviews and destination reports. I also subscribe to Axus Travel App, a great asset when putting together itineraries. Friends in the industry use another app, Umapped, which offers a similar service.

Insurance

There are other business expenses to take into consideration as well. I travel frequently so I do have an annual Med-Jet policy. And, unlike many colleagues, I do not have an annual travel insurance policy. I prefer to purchase trip insurance for each trip. Some of my travel is expensive and I have found that a per-trip policy offers me better cancellation protection than an annual policy.

Home-based agents also need to look at errors and omissions insurance to cover mistakes that might occur. At some time in our careers, we will make a mistake and we need to be able to cover the cost of such errors.

Finally, there are fees for IATAN cards, travel organization memberships, training classes and industry conferences. I am very selective about my educational choices. I found that investing in becoming a Certified Travel Counselor and an Accredited Cruise Counselor through the Travel Institute were worth the time and money.