You already know how important training is for your career. You also know it can be expensive. Your annual training tab can easily top a thousand dollars. Here are some strategies you may not know to help you get the most bang for your training buck:

Get Someone Else to Pay the Tab

The most effective way to get more training for less (of your) money is to convince someone else to subsidize your efforts. If you work through consulting agencies, there's a good chance you can get them to pay for part or all of your training-even if continuing education wasn't included in your sign-on benefits.

Agency-funded training is really a win-win situation. You get the training you want and need, and the agency people get two things in return. First, they're keeping you happy, which will give you one more reason to stay with them instead of taking your skills and experience elsewhere. Second, they are creating the potential for increased earnings for the agency. As your skills grow and improve, you can command a higher rate. Since an agency's fee is often based on a percentage of what you get paid, the more you're able to bill, the more they earn.

Your recruiter may say the company doesn't have the money to cover your training, but he might not be aware of the possibilities.

When seeking funds for training, there are two budget categories to explore. The company training budget is the first and most obvious source of money, but it's not the only one. If the training budget is empty or unavailable, look to the tuition reimbursement program. Although such programs usually only pay for courses that are applied toward a degree, many colleges will accept training courses as transfer credits and apply them toward a degree, thus qualifying them under the tuition reimbursement program.

If your agency still balks, there's one more route you can try: the payback guarantee.

Often an agency's reluctance will be linked to a fear that once you've completed your training-and increased your marketability-you'll leave, taking its investment in your skills with you. It's a legitimate concern. Some contractors and agencies have begun to address this issue by creating a type of training contract. The agency pays for your training, but you agree that if you leave within a specified period afterward (say a month), you must pay all the money back. If you stay three months, you only owe half. Six months, and your obligation drops to zero.

Whenever you're expecting reimbursement from your agency, confirm the details up front. Find out what qualifies, what evidence you will need to present, and if there are any limits on the amount that will be reimbursed.

Be a Smart Training Shopper

You can also keep your training costs down by shopping wisely. There are often several ways to obtain the training you want, and there can be substantial price differences among the methods. Basically, self-study courses are less expensive than instructor-led courses; Internet- based, instructor-facilitated courses usually fall in between.

The traditional shopper's wisdom of buying in bulk or seeking package deals applies to training as well. The price of a package containing, say, all the courses you need to complete your MCSE is typically less than if you purchased each course individually. If you don't have a clearly defined training plan, look for tuition programs that give discounts on subsequent courses taken through the same vendor.

Another penny-pinching method, tried and true from other forms of shopping, is to shop multiple vendors for each course. Since prices vary considerably, the vendor that offers the best deal on one course may not offer the lowest price on another course.

The costs of self-study materials can quickly add up. One way to reduce your tab is to trade materials you're finished using for someone else's hand-me-downs. You can do this with friends or via the Internet at sites such as the gocertify.com swapshop. (Note: The author runs the gocertify.com Web site.)

Remember to Take Your Deductions (and Credits)

Your training expenses may well be deductible on your federal income tax return. Not all education qualifies, and there's not room in this article to go into the nitty-gritty of income tax preparation. You'll have to consult a tax professional for that. But basically, if you file a Schedule C, your qualifying education expenses-such as tuition, lab fees, and books-will fall under Part V: Other Expenses. Other costs should go under their matching headings elsewhere on the form. If you're an employee, the form you're after will be 2106 Unreimbursed Employee Business Expenses (or its shorter cousin 2106-EZ).

The Tax Act of 1997 added two additional possibilities for claiming education expenses on your federal return: the Lifetime Learning Credit and the Hope Scholarship credit. Unlike a deduction, which reduces the amount of income you pay taxes on, a credit is a dollar-for-dollar reduction of your tax bill. The Lifetime Learning Credit is more relevant to continuing professional education. The credit equals 20 percent of the first $5,000 of your qualifying education expenses (a $1,000 maximum per family per year), and phases out at higher income levels. The credit amount is phased out between $40,000 and $50,000 for single taxpayers (or $80,000 and $100,000 for married taxpayers). The Hope credit is more restrictive in its definition of qualifying education, but is still worth looking into. This credit has a limit of $1,500 a year per qualifying student, and begins to phase out at an income of just $40,000 ($80,000 if filing jointly).

As we all know, cheaper isn't always better and sometimes may not even be adequate. Which cuts make sense in a particular situation is a highly personal decision that involves factors such as your available free time, your individual learning strengths and weaknesses, your financial situation, time pressures, and so on. But if cutting training costs is one of your goals, it's one goal that you can definitely achieve.

Anne Martinez is the author of Get Certified and Get Ahead (McGraw Hill, 1998). Contract Professional/CPUniverse, Dec. 21, 2000.