Money Obedience

When they are handing out cash on the street, do you just duck your head and walk by? If you don’t know what I’m writing about, you must be one of those persons who always remembers to turn in your receipts for reimbursements. I’m talking about receipts for work-related expenses you made that your employer will reimburse, or those tax-deferred accounts with balances you must consume before the calendar year ends. If you’re more like me, you forget about these things. Forgetting makes me feel like I’m leaving money on the street since our family budget has to cover these expenses. Worse, I feel like I’m the one standing on the street handing out money, and my employer is getting the handouts. I think the employer (or is it the government, in the case of tax deferred accounts?) makes out like a bandit.

With business travel reimbursements, the idea is that I’m supposed to keep all the little pieces of paper I get when I’m traveling - a nearly impossible task for me, it seems. I’m lucky if I don’t lose my passport! Then, I’m supposed to organize all these into some kind of order – for example, one that corresponds to the allowable daily payments my employer is willing to make (the per diem). Then, I have to make sense of the form that is to be turned in with these little pieces of paper. Last, I turn it all in, but I have to stay on top of things to be sure that I get my reimbursement check, and not misplace that check before I cash it.

Is it becoming evident to you how many opportunities I see to mess up this whole thing? To me, it feels like the chances for me to fail to be reimbursed for money I spent are terribly high.

I’m embarrassed to say that I’m just as guilty of failing to efficiently use my employer-supported tax deferred accounts. I have good news, though. Last time I was at the pediatrician with my sons, upon checking out, they asked whether I need a “detailed receipt” – the kind one needs to turn in to get your money back from one of these accounts. I said, “Yes, even though I’ll probably lose it before turning it in.” That passing comment got me a bonus – they told me that they’re happy to print out all my receipts at the year’s end so that I can submit them all in time. I bet I can ask the dentist to do this for me too! At least my lack of organization won’t be so bad in this case.

I see two problems with this whole situation, and I have control over the solution to only one of them. First, I admit I’m not well-enough organized. I need a receipt-keeping system that can make these different reimbursement programs work for me. (I have four kinds of work-related receipts to store: travel; office supplies; medical/dental; research related travel and supplies. Plus, I acquire these receipts at all different times and in different places. Sick child? I get receipts while near home, when I’m preoccupied with calming and comforting toddlers. Conference travel? I could be out of town, or out of the country! Office supplies? Sometimes I’m neither near home nor work!) Any ideas about how to work this? I’d love to hear them!

Problem two: is the government/employer taking money they don’t deserve? They don’t hand out cash and let us decide if/when they should be reimbursed. Why do we have to have it the other way?

The only exception is in the case when you get a generous travel advance. And really, is there such a thing anymore? My employer, for example, advance you a maximum of 80% of the per diem rate. What happens to the other 20%? See paragraph one, above – if I don’t have the receipts, I don’t get it. And we all know that per diem rates are not spectacular. Can anyone report that the reimbursement for trips by car has kept pace with the ups and downs of the price of gas? I think not!

So, how do I conclude? Don’t be like me – be organized and get back all the money you deserve to. Otherwise, it’s as if you’re standing out on the street, handing out your own money to people who don’t likely need the charity. Better to get it back – you can donate it to the charity of your choice if you’re in the giving mood!