The option of working from home is becoming more and more popular in today’s current workforce. Whether it’s about a work/life balance, having a team scattered across the country or globe, or even the decision to start your own business, a home office is an essential for most of today’s employed society.
There are definite perks to working at home, from doing your office work in your pajamas to being able to have a hot lunch every day. However, you would be surprised at the number of people who prefer to go into a communal workplace, as it aids their concentration, creativity, or they simply get work done.
What both sides of the camp often overlook is the fact that there is also a financial motivator to stay at home- at least there is the potential. Let’s explore what working from home could look like for your monthly bank statement:
- Travel Expenses
When you work at home, you save all the money you would otherwise spend on getting to and from work. This includes costs like gas, mileage on your car, parking, or alternate transportation when applicable. Depending on how far your home is from your workplace, this could mean hundreds of dollars in savings off the bat. You might even be able to get rid of your car altogether!
- Dress Code
Some of us enjoy dressing up for work, whether that means in the company uniform or in order to adhere to a prescribed dress code. Others could do without the added expense of a second wardrobe which we would never dress in other than for work. Working from home could let you pare down on your “work clothes” to a minimalist capsule wardrobe for meetings or other special events. Forget the days of worrying whether your colleagues will notice that you wore the same slacks two days in a row. Your office cat won’t notice.
- Office Equipment/Decor
Yes, it’s true that if you work from home, you cover the costs of printing, IT tech repairs, and the internet. However, these are usually things that you have for your personal use anyway, and all the extra supplies like paper or stationary you can expense to your company, whether you work for yourself or someone else. You also get a chance to model your office as you like, without input from other authorities. Though you’ll most likely be the one to cover the cost of those custom framed mirrors adapted to your space and needs, they could be just what you need to get your creative juices flowing.
Time is money, right? Though working from home can be a struggle for those who like to multitask and integrate their daily home errands into the working day, for those who have the discipline, working from home can give you maximum time for work. Instead of wasting time getting to and from work, attending pointless meetings, and politely chatting with colleagues, you have the chance to work a real 9-5, or even an 8-6, taking those “lost hours” in a day and turning them into productive time. On top of that, many regular hour employees have to take a day off every few months to run errands which are only able to be completed during business hours, like medical appointments, getting government paperwork done, or picking up packages. If you work at home, you are more flexible with your time- you can always make-up that lost time later!
Not everyone is suited for the lifestyle that comes with working from home. However, if it suits you, your personality, and your current work lifestyle, it could be a great way to save some money every month and maybe even make some extra thanks to reclaiming the time which often “falls through the cracks”.