Economy class as an investment (and 52 ways to survive it)
Business people and investors should be in business class, right?
Here’s the thing.
Sometimes economy class can be a good investment.
No, OK, let me have another go at this:
Economy class is almost always a good investment.
Economy class as an investment
Let’s look at the math for economy class vs. business.
The time value of your business class cash
What’s an average long haul business class fare?
Say, $4,000 or $5,000?
If it’s a special itinerary it could be up to $9,000.
(I’m thinking Africa here – always seems to be very expensive).
What’s the opportunity cost of that cash?
Time value of money right?
If you take $5,000 and invested it – that could produce some returns later down the track.
Typically about 8.8% if you look at the academic literature on long-term equities.
And if I assume a 3.8% safe withdrawal rate, the ‘rent’ on $5,000 – basically the income this 5k can give you forever – is about $190 a year or $16/month.
For your Africa fare above, that’s about $342 a year or $28/month.
That’s actually my internet bill covered for the year, and a bit more on top.
So I’m pretty frugal about stumping up for the business class fare.
And I’ve flown business class a lot.
But, if it’s my money – I try to think about economy class as an investment.
Turning down business class, even if I can afford it, is an investment.
When business class might be a good investment
There are some exceptions to this, which I think need to be pointed out:
If somebody else is paying for business class: I think we get this already. Most people in business class are not paying for it from their after tax, personal income. Their employer is paying, or if they’re independents, they are expensing it on the invoice for client. If you are flying for work and somebody else is paying, I wouldn’t be traveling economy class if business class is an option. No brainer.
If your time/performance at the destination is genuinely critical and you’re doing a lot of trips back-to-back: If you’re going to make a deal, and you’ve got several negotiations lined up back to back, such that every trip is in a narrow time envelope and you’re struggling to fit stuff in – then business class could be worth it. Again, it keeps you rested and ready to negotiate. In this way, you’re literally using business class to buy more time than you would otherwise have. This isn’t most of us, to be fair, and it’s not me right now. But if you fall into this category business class itself could be a very sound investment. And I assume it’s going to be tax-deductible for you. For most of us, though, if you’re not rushing between deals – you could fly economy a few days ahead of time, rest properly, get over the jet lag and then head into your business negotiations.
Taking this logic to its extreme, check out this video on how Walmart uses private jets to conserve the time of its executives:
(Spoiler – It’s got to do with the fact that an hour of a U.S. CEO’s time costs the company about $5,750… So if you can make their travel schedule more efficient, you (as the company) can get an economic benefit out of that. But I digress…)
If the business class fare is such a small/trivial percentage of your regular independent income anyway: You are the actual jet set. You make several million per year in returns from your investment assets and don’t have to work, such that business class (or first class for that matter) barely registers in the context of your monthly spending habits. Economy class would be a waste of your time. If you’re in this category, any saving on your class of service, and its investment, would be meaningless. I’d stick with biz or first (and the rest of this article may not be hugely relevant).
Discomfort is your upfront investment ‘fee’
If you take this investment approach, the upfront fee for that investment is the discomfort of the whole economy class experience.
The back of the bus is painful any way you look at it.
Especially long haul.
So I’ve put together a few tips or travel hacks to help you cope.
They won’t make you feel like you are in business class, but they should help…
How to cope with economy class
Choose your seat
This is critical.
Make sure you’ve got a good seat and have assessed its pros and cons.
It makes no sense these days to wait for the check in agent to assign one.
Hop online and pick your seat, after having a look at a site like seatexpert.com and working out what type of aircraft you have.
I like the last couple of seats on the Boeing 777, typically configured in two across.
Way better than getting stuck three across in my opinion.
Or check out the A330, which has loads of options for two across.
A decent neck pillow
Get one. Period. You’ll be happy you did. These things make sleep possible. The Cabeau range is great, offering both high end comfort and good standard options. For the adventure backpackers, a high quality inflatable might be doable. By the way, some hardcore folks use medical neck brace, saying you can sleep perfectly once you get comfortable with it. Looks stupid as hell but it might be worth it.
Image credit: Kevin Tao
Noise cancelling headphones
These are fast becoming an essential and more and more folks have them. They really make a difference. You can get the best out of the entertainment on offer (airline headphones suck, I find, and barely cover the engine- so you have to max out the volume on the IFE) and they zone out the background din so you can get some sleep. Highly recommended. If you don’t like the headset variety, these now come in buds.
If you bring your own headphones, make sure you have an adapter plug. These will often come as standard with the higher end headphones at purchase.
Kindle or eBook reader
You can of course hit the in flight entertainment. Some airlines have crap entertainment or not enough choice. You may even end up on a United junker with a central video screen playing Home Alone. In any case, I like to start off my longer flights by reading and when I get tired, hit up the audiovisual. That gives me at least some mental variety and keeps the cobwebs at bay. Either way, a Kindle is a great companion. You can load it up with those one dollar mystery thrillers and be enthralled for ages.
Image credit: James Cridland
Talk to your doctor or pharmacist about these. I don’t do them myself but some folks swear by them and get great results. Make sure you’re comfortable (neck pillow, again, guys) because you don’t want to fall into a chemically induced sleep on a special neck nerve. Ouch! Consider also whether you want to be a bit drowsy when you arrive and what kind of wits you need.
Pick a seat close to the galley
I do this because I like to be close to the crew and can (super nicely) ask for extras. Drinks, leftovers, cookies – you name it. On Emirates, you can sit in the last row and chat to the crew, as well as getting preferential service on the US$ 10 bottles of champagne coveted by seasoned flyers.
Wear soft gear
I’m not a track suit and sneakers guy like Ben Stiller. Nonetheless they make sense. You want something soft around your abdomen and arms. Tight jeans aren’t going to do you any favors. Loose, soft exercise gear is the go and makes a big difference in allowing you to move during the flight.
Make sure you’re in the frequent flyer program
Guys, make sure you are enrolled in the frequent flyer program of the airline you are flying with. I know if you’re a frugal nomad or an adventure backpacker, or heading out on your first trip – you might be like “what is the point”? Here’s the point: you’ll get some miles you might be able to use later. And, importantly, most airlines will only upgrade folks with a frequent flyer number (FF passengers will be on their preference list before the general passengers). The so-called chance “operational upgrades”. So, if you want to be lucky, get a frequent flyer account for those long haul flights you’re going to take.
Make sure the airline has your email address and cell number
This way the airline can advise you have delays, etc., and contact you if need be. If a last-minute upgrade offer is made, too, it’s important to have an email address on file. They’ll usually send the offers out by email or SMS a couple of hours before the flight. Taking up such an offer is a good way to experience business class at a heavy discount. Emirates, for example, has been known to offer upgrades from around USD 400 – 900 by email six or so hours before the flight.
Drink more (water)
It’s true. You’ll feel better. Particularly your eyes and skin, which need a lot of water to work normally. If you’re drinking alcohol, overcompensate with the water. And I guess you’ll need an aisle seat.
Two long economy class legs together can be tough. I say reward yourself a little bit and buy lounge access. You can usually do this advance, online, and get a discount. They’ll usually have showers, some healthy food and some booze. As long as it’s not packed really full, a lounge can be a great way to collect yourself away from the mind numbing noise of the airport. If you travel a lot, a membership scheme like Priority Pass can make sense.
Image credit: nakedsky
Pick a special meal
This hack is well known. Book a special meal – i.e. gluten free or vegetarian – and you’ll very often get served first as per normal airline procedures. This way you can eat early and get to sleep ahead of the pack.
Image credit: Austrian Airlines / flickr
Alternatively don’t eat. Some folks swear by this. Don’t feel fat and farty in your small seat. Skip all that by having a meal at at the airport and riding out the flight without a big meal. Most folks say this helps them sleep.
Prime your body clock
Another ye olde hack. Wake and sleep a couple of hours closer to your destination timezone about a week before your flight. If executed diligently, this can really reduce your jet lag upon arrival.
Clean your teeth before sleep
We’re creatures of habit. Also we don’t want to be filthy. Make the effort to go to the restroom after dinner and clean your teeth, settling down for the evening part of the flight properly. This will help condition you towards sleep and give you a nice feeling of normality. Also your pearly whites will thank you for it!
Smile and be considerate
Don’t get agro with your fellow passengers. Smile, accept slight inconveniences or slip ups and accept that we’re all in the same boat (OK, aircraft). Economy class is a human experience. Ask if you can help someone. There may be a warm buzz in it for you.
Go light in economy class
Keep your carry on modest. You don’t want to be one of those guys that keeps trying to smash his trolley with big wheels into the overhead compartment. Check what you don’t need or, better yet, don’t check anything at all and make do with a very light approach.
Pick the backrow seat if you’re scared of crashing
If you buy all that “pick the safest seat on the plane” stuff, you’d better go ahead and do it.
Peace of mind.
Generally they say it’s the seats in the rear of the plane that do best in an impact.
More than 60% better.
Hopefully it doesn’t come to that.
Essentials in carry on
Make sure your critical essentials (medication, contact lenses, important documentation etc.) are in your carry-on.
You don’t want to be tired and lost near some baggage carousel somewhere with exactly nothing to survive with.
They give you moisturizer in business class for a reason.
It makes you feel better.
Pack a small travel tube and pamper your face when you feel crap, say in the 7th hour of an 11 hour flight.
Works for both gals and guys.
Understand before being understood
This is a good hack for dealing with the cabin crew and is just plain polite.
When you’re asking for something special, start off with something empathetic: “Are you tired? This is a long flight to be on your feet for”.
Then, after listening and chatting for a bit: “I know you probably don’t have any of x left, but if you do – it would be great if we could get another one.”
Use headphones as a prop for talkative types
If you’ve got a talkative Tim next to you, keep those headphones handy to make it clear you don’t want chit chat. Our nomad gals swear by this.
Do a lap if you wake up
I’m too familiar with the endless horror of nodding off, waking up, nodding off, waking up, being hopelessly uncomfortable and pissed off, and trying to nod off again.
Instead, when I wake up, I get up and do a lap of the plane.
The change of pace gets my blood moving and I’m more likely to get a longer sleep when I sit down again.
You might want an aisle seat or a secluded seat though.
Sit up front if you want off first
I’m more in the camp that it takes as long as it takes, so getting off first to beat another queue is just too stressful and so I get off when I get off.
If you want to get off first, like for instance you have a close connection, then obviously position yourself closer to the front.
Don’t get envy, though, when you catch a glimpse of business class through the curtains.
Image credit: daezho
A little bit of nice perfume or cologne is uplifting.
I keep a small bottle spray and use it whenever it gets tough.
Instant dignity boost!
Get Audible or load up with podcasts matching your interests
Audible is awesome and you can listen to their huge range of audio books through their app. Regular podcasts are also a great time hack.
You won’t even notice that the flight has all but disappeared.
I recommend you get a podcast cranking on a hobby, business ideation, personal development goal or a travel destination.
If you don’t have noise cancelling headphones, use buds
Regular buds are a great alternative, particularly the ones with the little suction rubber bits.
You know what I’m talking about.
Power your stuff
Check your airline has seat plugs or bring an external battery.
You don’t want your iPhone dead on arrival, when you might have some coordinating to do.
Simple but important.
You can also get flight socks, which hold DVT at bay.
Strategically sit in an empty aisle
Board last and wander, as if lost, to a free center aisle.
Economy class luxury, right there.
You’ll get a good sleep, three across, and, let’s be realistic, nobody’s going to ask you for your seat assignment.
Most folks don’t start the search for a place to sleep until after take off, so this will put you way ahead of the game.
Have your arrival all planned out
So you can rest beforehand on your flight worry free.
Particularly if it’s an offbeat destination and you are arriving late at night.
I arrived in India for the first time after midnight, with nothing planned, and that was a sleepless drama.
Yes, it’s a thing (don’t laugh) and yes it makes a difference.
Match a good mask with a nice seat recline, neck pillow, noise cancelling headphones and a comfy blanket and inflatable footrest, and you’re all set for some economy class shuteye.
Living the dream!
Image credit: Canstockphoto / Dibrova
If you hate turbulence, sit in the center of the aircraft near the wings.
You’ll get less grief there, because you’ll be closer to the center of gravity of the aircraft.
Don’t wear contacts
If you do, the dry air will leave your eyes feeling like someone was rubbing sand into them while you slept.
You’re better off with the glasses.
Fix it before landing.
A decongestant before and during your flight is probably the best bet.
And lots of water.
Otherwise, the pressure on your ears can knock out your hearing after landing.
Essentials bag or pouch
Get a little essentials bag that you can put everything into and keep separate from your main bag.
You can put this in the pocket or under your seat and not have to worry about getting up to get your stuff.
For nervous types, you can put all your belongings in there and keep them close without having to check for your wallet, phone, keys and passport every five minutes.
Enjoy the people
There are some really interesting people out there and this is a great opportunity to hold them to a captive conversation.
Single serving friends, I think, was the expression they used in Fight Club.
Order the extras ahead of time
If you’re flying low cost, or even just a regular airline these days, check out what extras you can buy on board.
If I’m traveling a long distance, I like to make sure I’m loaded up and will buy the extras.
You get a discount if you buy in advance and I just buy.
A little extra comfort in uncomfortable circumstances is worth it.
Image credit: Friendlynomad
Check in early
Check in early, with some airlines, to choose your seat.
This is usually for the airlines with the older IT systems.
You also minimize your chances of being “bumped”, which is where the airline gives your seat to another person and transfers you to another flight.
Always check in online, if you can, instead of at the airport.
Of course, you can drop your bag off at the check in desk.
Wipe down your seat rests and food tray
Would you have much work ethic if you got paid what an aircraft cleaner gets paid to do a quick job under super time pressure?
Use some antibacterial wipes and clean up the space that will be yours for these next long hours.
Try almonds or whole-wheat crackers with peanut butter, a hot tip from Hilary Fischer-Groban. Maybe a snickers bar if you’re feeling a bit naughty, but beware the sugar crash on long haul.
White noise app for sleep
There are white noise apps.
Find your favorite and deploy it ruthlessly with your noise-canceling headphones.
I’m not in this camp, but the religion is that you nestle in early and sleep the whole flight (no one will disturb you).
Just don’t need to go to the toilet or anything, as you’ll have to wake the girl next to you.
Maybe this goes to the truth of it, but I’ve enjoyed the aisle for many years without the window folks waking me.
Maybe that’s because they’ve got it down to a fine art.
Image credit: Canstockphoto 35470469
Get a mini pack (50ml) and spray your face for a refresher.
Almost as good as a shower…
Part of the beauty routine for many of our readers.
Write the best economy class novel
Too often we get into a neg out about flying as wasted time.
You can still use it.
Write up your next business plan, pen a review of the airline for your blog or make a start to the great 21st century novel. You could be the next Tim Ferriss!
Change your underwear before landing
This freshens you up for your destination and leaves you feeling less gross and oily.
Sometimes it’s hard to be civilized in economy, but it’s always worth the effort.
Plan an airport hotel for longer connections
If you have a long connection, try to grab an airport hotel. Preferably in terminal.
Asian airports usually have good options and prices can be realistic – USD 50 for 6 hours.
OK, so that might be more than a hostel but travelling economy does need a little compassion.
Image credit: estelheitz
Not much on this from us.
But if you are traveling a lot, and we know you are, it makes sense to build up a relationship with an airline you like or at least an alliance (oneworld, Star Alliance and Skyteam all offer reciprocal loyalty recognition to a degree).
This means that you will be developing a consistent bank of miles, maybe some status and you might even benefit from the occasional upgrade. 50,000 miles is often enough for an upgrade to business class.
We’re not obsessed with points here at Suitcase Investor, but you can game the system a bit by getting points on the ground for various things (credit cards, being one) and then using those points to upgrade your economy booking.
Worth it if you have some lead time on your travels.
If you get headaches, make sure you pack some Advil or aspirin.
Cabin crew have these but aren’t usually allowed to give you any, meaning you could have a long flight with no relief ahead.
Don’t upgrade unless…
You’re happy for economy to become a whole lot harder after you see how the other half flies.
Once you’ve tasted business, it can be hard to go back as your expectations get jilted.
You’re also not as naively happy with economy for what it is and start comparing your lot to the lot of those upfront.
Before I tried business class I really didn’t spend any time thinking about how bad economy was or envying those folks getting the champagne before takeoff.
OK, OK, so not a reason not to take business when you get the chance, but just be aware of this one.
Image credit: Andy Mitchell / Flickr
Learn a language
Dead time like aeroplane time is a great opportunity to put the mind to work.
Time also passes more quickly with cognitive effort and, boy, learning a language is tough stuff.
Pull out your exercise book or invest in an iPad app that can teach you a language while offline.
There are a few, and even if you’re just starting out, you’ll be able to say “hi” and “can I have a beer, please” in the destination language by the time you land.