Keeping track of travel expenses on the road can be confusing so using an expense calculator is a useful and time-saving idea. The hassle in travel expenses is compounded when travel is made to foreign countries and currency exchange rates come into the picture. An expense calculator becomes an invaluable tool in trying to determine how reasonable prices are in terms of a currency the traveller is familiar with. This will, in turn, enable the traveller to make the right choices and minimize travel expenses.
In addition to the standard features of any calculator like doing mathematical calculations, an expense calculator has many features which can help minimize travel expenses. The most salient of these features are foreign exchange conversion, distance calculation and budget comparison.
The foreign exchange conversion feature of an expense calculator is probably the most important function in helping to minimize travel expenses. The traveller may program an exchange rate of the foreign currency in relation to the domestic currency before embarking on the trip. At the point of destination, entering the price of a meal or hotel room will immediately convert it into the equivalent in the traveller’s home currency. An expense calculator in smart phones with internet access can even give the equivalent based on real-time exchange rates.
Another feature of the expense calculator that helps minimize travel expenses is calculating distances where an expense account is reimbursable in terms of mileage covered. The allowable mileage rate can be programmed into the expense calculator. When negotiating with a car rental agency or cab driver, the traveller can enter the distance to be travelled and use the information produced by the expense calculator to bargain for a better rate.
A third feature of an expense calculator is to show a running comparison of travel expenses against a pre-determined, fixed travel budget. For a traveller operating on a per diem which covers all expenses in the course of the trip, an ongoing summary of travel expenses compared with the budget will help the traveller manage travel expenses for the remainder of the trip in order to keep within the prescribed budget.
From a purely personal standpoint, an expense calculator is irreplaceable when the traveller goes shopping. Because prices vary widely from one country to another, the foreign exchange conversion facility of an expense calculator can automatically help the traveller decide whether an item is indeed a bargain.
Together with a passport, credit card and airline tickets, the expense calculator is not just an essential travel companion but a practical way to minimize travel expenses.