Savannah is in Charlotte Hi Savannah how are you? I’m good how are you, Dave? Better than I deserve, what’s up? All right. So I’m 22 and I’m about to start my first job out of college The company is there’s a lot of travel involved with the job And the company requires that I pay out of pocket and then they reimburse me and they suggest I get a credit card to pay those expenses first, but I don’t want to do that. So how should I work around that? Um, do you have any money? Yeah I do. I’m going into Baby Step 4. Good. Good for you. Well done. Well, um, how big of a company is it? Um, it’s a medium-sized company. 250 employees OK. Well why don’t you talk to someone in leadership and explain to them that you don’t borrow money and I don’t use credit cards so I won’t be getting a credit card I really don’t think it’s right that I’m using my money to travel for your company And so um I’d like for you all to furnish me a card. I don’t think that’ll work. I want you to try it with humility and kindness, not being a jerk about it I’m not suggesting you do something to lose your job or that you have an attitude or something And just go, “Hey, I’m 22 “I just got out of college. I am not “borrowing money. I’m not gonna get into debt. “And so you guys gotta help me, OK? “Cause I’m not taking out a credit card. “Is there any way you could just furnish me a card?” “Cause by the way, all this stuff I’m doing I’m doing for you.” “I’m not gonna put anything on the card that isn’t company.” “And if I do you can fire me.” I don’t think they’ll do it. But I would ask. OK? If that doesn’t work, then what we suggest to people is, two other options. One is, get a different job. Which is unreasonable, probably. The second option is for you to get a separate checking account just for travel. Put a debit card on it and put the amount in there that you need for monthly travel expenses And you only have to “prime the pump” so to speak one time And so, you estimate what your monthly travel is going to be–Do you have any idea what that’s going to be Um, well to start out, I’ll be doing a lot of training so I won’t be traveling consistently for about six months so I don’t know what the monthly expenses will be OK. Won’t be much then. But let’s just use Is it monthly that they reimburse? Um, it’s every pay check. Every two weeks OK. All right. So really all we have to worry about is two week’s worth of travel. So let’s pretend two weeks worth of travel was $1,000. OK? If you put $1000 in this checking account or $1200 in the checking account And you use your debit card. And you use your money. You turn it in They give you a check for $1000. You put the $1000 back in this account You see what I’m saying? You only have to put it in there one time. And you’re using your money but they’re reimbursing you which is what you’re doing by the way when you use a credit card. -Yeah.
-I mean, what if they didn’t pay you? Well, you’d have credit card debt. Well, you’ve lost the money. Guess what? You’ve lost the money either way. That’ s the weird thing So I don’t have anybody on my team that I ask to travel with their personal money. -OK
-We always furnish the money for them to travel Either furnish them a debit card from our company if they travel a lot. Or, We advance them petty cash to pay for the travel and we pay for the expenses. And they can’t turn in anything on that debit card obviously or on that petty cash receipt that isn’t you know, I’m not buying their shampoo, OK? I’m not buying a dress for you while you’re on the road. That’s your problem. I’m talking about usable company expenses for travel. And uh, that’s what you limit it to. Be very, very careful that you don’t use it for anything that isn’t reimbursable And then the money will always go right back to the account. And the only thing you’re at risk is two weeks worth of travel. And that works really well for people who travel a lot. And the debit card by the way on the road will do everything your credit card will do. I’ve heard people say “Well it doesn’t work “internationally.” Well I just returned from 3 weeks in Europe. I just got back. I didn’t have one single episode Not one negative episode with my debit card. Not one. Everyone took it. Just like a credit card. Guess what? That’s basically what it is. Except it’s using the money out of your account. Hey guys thanks for watching! If you enjoyed this video, click the subscribe button! To get the latest content and clips from the show!