Car Negotiation Coach

With the Financial Blogger Conference (FINCON11) just weeks away, I’ve been thinking a lot about how I can make the most of the conference and networking opportunities while keeping costs down. After all, I live on a budget, and I have a hard enough time sticking to it as it is! Because the conference is geared toward personal finance bloggers, I’m sure I’m not the only one who will be looking for ways to maximize my time at the conference without draining my bank account.

Conferences of any kind can be very expensive. There are the expected costs – travel, lodging, registration fees, and food – but there are a myriad of hidden expenses as well. This post will discuss some of the expenses you can expect, as well as some you may not be prepared for, and how to minimize the impact on your wallet.

Expected Conference Costs

Travel. Getting to a conference can cost a pretty penny regardless of the mode of transportation you use. If you’re flying, travel during off-peak times or look for discount airlines. If you have any relatives with frequent flyer miles, this may be a good time to ask for a favor! Keep in mind, you may need a taxi or rental car to get to the conference venue from the airport. If you’re driving, take time to add up the cost of gas, researching possible price fluctuations as you drive further from home. Also, you might consider carpooling if someone else from your area is attending the same conference.

My strategy: After adding up the cost of driving to the airport, flying to Chicago, and renting a car, I determined it makes more sense (for me) to drive to FINCON11. It’s about 400 miles from home, but I am able to take time off work to travel, plus my car gets good gas mileage. My total travel costs will be about $75.

Lodging. Most conferences are held in hotels, which generally offer a special rate for attendees. While it makes sense to stay on-site, don’t overlook the possibility of a cheaper hotel nearby (or even on the same property!). Consider finding roommates among the list of attendees to split the cost of your hotel room. Alternately, if you have friends or family in the area, you may be able to stay with them for free!

My strategy: I’m sharing a hotel room with two fellow bloggers for FINCON11. We split the room rate, allowing each of us to stay 3 nights for the price of one. Total cost: $90.

Registration fees. Often, conferences will offer various fee schedules depending on the nature of the event. You could get a discount for registering early, being a student, belonging to a related organization, or qualifying as a senior citizen. If a conference offers early bird rates, be sure to purchase your ticket as soon as possible to take advantage of the savings. If something prevents you from attending, you can likely sell your ticket or request a refund.

My strategy: I was lucky to snag the last super early bird ticket for FINCON11. At the time, I was a very new blogger and didn’t know for sure whether I would attend, but I wanted to have the chance at the cheapest possible rate. Total cost: $89.

Food. By all means, take advantage of the free food offered at conferences! Most hotels provide a continental breakfast, and you will likely attend a sponsored lunch each day as part of the conference. If possible, bring bottled water and snack food from home to avoid vending machines between sessions. Spend some time researching restaurants in and close to your hotel for dinner – don’t feel pressured to go to the most expensive places to eat.

My strategy: I’ll be participating in any free meals during the conference. I will have to pay for 2 lunches (on the days I travel) and 3 dinners out of pocket. For meals on my own, I’ll be grabbing something fast and cheap, saving the bulk of my money for the dinners with other bloggers. Total cost: Approximately $75.

Unexpected Conference Costs

Business cards. For an event that focuses on networking, it’s a good idea to have business cards ready. If the conference you’re attending is work-related, you probably have cards provided by your employer, but a blogger conference may require special cards geared toward your website. Many online vendors provide discounted business cards of excellent quality – check for coupon or affiliate codes before placing an order. You might also ask others what vendors they used for their cards.

My strategy: I paid $35 to have my business cards designed (though you can certainly take advantage of tools that let you design your own). I then uploaded the design to Overnight Prints, where a well-timed promo code gave me 250 cards for about $25. Total cost: $60.

Exhibits, booths, and vendors. Conferences are the perfect place for related companies to display, demo, and sell their products. It’s easy to walk out of an exhibit hall with an armful of books, sweatshirts, tote bags, and keychains you never knew you needed – at a premium cost. Be prepared for the urge to buy things, even if you aren’t typically an impulse shopper, and make a plan to deal with those urges. Also remember that conferences tend to give out plenty of free swag to attendees – you’ll go home with all kinds of stuff without spending a dime beyond the registration fee.

My strategy: I know myself, and I know I’ll be tempted to buy all kinds of stuff at FINCON11. However, my plan is to check out all the vendor booths on the first day with no money in my pockets. If I see something I think I need, I’ll take a business card from the vendor and think about it overnight. (This will also give me a chance to look up the product online and bookmark it for later.) Unless I can score a substantial discount on something I truly need, I won’t be purchasing anything. Total cost: hopefully zero!

Clothing. Conferences provide a chance to network with some of the most influential people in a given area. Naturally we all want to look nice and professional; you never know when you could run into a Very Important Person in your field. However, this doesn’t mean you need to purchase a whole new wardrobe to attend a conference. If you truly need a few clothing items, shop sales and find clothes that will still look nice after being crammed into a suitcase.

My strategy: I admit I’ve bought some new clothes in anticipation of FINCON11. However, I have also gained some weight since the last time I needed to dress professionally (I wear casual clothes to work) and needed the items anyway. I have plenty of cute clothes in my closet; no need to buy everything again. Total cost: $120.

Shopping. I don’t know why so many conferences seem to be held in locations right next to a mall. Often, people use the close proximity as an excuse to check out stores that may not exist where they live. You could end up going home with much more than you originally packed!

My strategy: I have no plans to go to the mall while I’m at FINCON11. I don’t need anything, I don’t need to spend money, and there’s no such thing as window shopping when you’re on a trip away from home – somehow the excitement can translate into buying all kinds of unnecessary things. Total cost: zero.

Alcohol. Most conferences have cocktail parties or (at the very least) a hotel bar. If you don’t drink, this won’t be an issue for you. But if you do, you could find yourself owing an enormous amount at the end of your stay. Instead of opening a tab, pay for your drinks in cash and set an amount in advance. Don’t feel pressured to buy a round of drinks for your friends. Most important, think about the professional image you want to portray and decide how alcohol consumption could affect your behavior.

My strategy: I’m not a big drinker, but I do enjoy having a cocktail occasionally. To save money, I’ll be paying in cash and limiting myself to a maximum of two drinks per event. No need to get drunk or act like an idiot in front of my blogger friends! Total cost: $50 max

Overall Tips to Save Money on Conferences

Whether you’re attending the Financial Blogger Conference or some other professional event, it’s always a smart idea to consider the costs ahead of time. Too often, we look at the registration fee and think, Wow, that’s an awesome deal for the knowledge I’ll gain! without thinking about all the added expenses. My trip to FINCON11, which costs $90 in my head (for registration), will actually cost a minimum of $500. That’s a lot of money for one weekend!

When tax time rolls around, be sure to consult with a tax professional – many conference costs can be deducted as business expenses. I keep a meticulous spreadsheet of all my blogging income and expenses to make sure I’m ready when the end of the year arrives. I can’t predict exactly which costs I can deduct (not a tax professional myself) but I know I should be able to justify quite a bit of the money I’m spending to attend the conference.

Anytime you attend a conference on a budget, the best way to save money is to estimate your expenses ahead of time, save where possible, and stick to the limits you’ve set. With money in mind, you’ll be able to have a wonderful time without feeling guilty about the money you wasted once you get back home.

Do you have any other tips for saving money on attending conferences? Are there any expenses I missed? Let me know in the comments!

Get a personalized car buying strategy guide to learn how to buy a new car at the best possible price. It only takes a few seconds and could save you thousands of dollars! Did I mention it's free and you don't even have to register?

Why is it free? Because buying a car is something almost everyone has to do and I strongly believe the process is designed to confuse and take advantage of consumers. I'd like to level the playing field and give everyone a chance at a fair deal.