The world has changed a lot.
Now, it is not necessary to work from an office.
You also have the option of working from home.
Thanks to technological advancements, many companies are offering their employees to work from home.
This translates into a Win-Win situation for the employees as well as for the companies.
Working from home means that you get an opportunity to save money.
A study has revealed that one out of every five Americans is currently working from home and their estimated savings equal to about $10,000 a year.
And that’s a good amount of money.
If that excites you, then read on, as we present you the numerous ways by which you can save money by working from home.
Apart from non-monetary benefits such as a flexible schedule, not dealing with annoying co-workers, non-existent commute, there are many monetary benefits of working from home. Here under, we illustrate monetary benefits and show to you how you save money by working from home.
So if your boss gives you the option of working from home, then grab it quickly as you can save lots of dollars by working from home.
Now, let us show you how you can save money by working from home.
Transportation costs are one of the major expenses that you have to meet when you go out to work. Moreover, transportation is such an expense that you just cannot stay away if you go out to work in an office. It comes as a daily expense. A recent survey done by AAA has revealed that if you commute half an hour each way to reach your workplace and return to your home, you tend to spend $9000 per annum on costs like gas, tolls, and car repairs. However, working from home you can entirely save the cost of transportation. The cost of reaching your home office from your bedroom is zero.
Coffee and Snacks
Coffee and Snacks account a usual expenditure for office going employees. This alone can cost you several hundred dollars a month. How about enjoying snacks and coffee at your home office? Well, you can prepare your own coffee and have your favorite snacks when you work from home. This can save you a lot of money. You can save up to 70% on your coffee and snacks bills when you work from home. This is indeed a lot of saving.
Most of the time, it happens that if you have an in-office job, you tend to buy lunch rather than carry your lunch packet with you. This means that you are spending roughly $10 – $ 15 on lunch each day when you go out to work. So, eating out is really a costly affair. Even if you are a thrifty person then too your monthly cost of eating out can run from $100 to $150 alone. Well, you can save the cost of eating out, when you work from home. Eating home prepared food is much tastier and cost effective than eating out.
When you go out to work, you have to follow a dress code, and that involves a certain amount of expenditure. Moreover, you have to spend on a regular basis as you always want to maintain your status in front of other employees, co-workers, and of course your seniors and boss. However, working from home you can drastically cut down your expense on clothing and make-up. You can do with few clothes or rather cheap clothes when you are working from home.
There is no need to buy costly formal shirts and pants. You can even wear casuals such as jeans, t-shirts or tops. Then ladies do not need to put on costly jewelry and do make up every time they sit down to work at home. So, suppose you are spending $1500 on clothing and apparels each year, you can easily reduce this spending by half.
It’s important to look at your best when you are working in an office. Buying costly and attractive clothes is one thing, but you have to keep them in up-to-date condition. For this, you require dry cleaning your clothes. As you know, dry cleaning comes at a good cost and moreover, you need to keep on spending on dry cleaning clothes. Whereas, when you work at home you can wear casual clothes that you can wash in your home. So you can save lots of dollars on dry cleaning clothes when you work at home.
Childcare is a major issue when you go out to work. When you have small children, you have to take the services of daycare, and when you are working through late nights you even might have to resort to aftercare, too. Daycare or Aftercare, both of these services comes at a good cost. However, when you are working at your home, your children can stay with you. So, no need for daycare or aftercare and hence you end up saving money.
You get a lot of tax deductions when you work from home. You get tax deductions on office equipments, utility bills. Even when your home office meets certain size standards, you get tax deductions on it. So, working from home you can save money which you have otherwise paid out in the form of taxes.
Working at home can be a great stress buster. Studies have revealed that people experience reduced stress levels when they are working from their home premises. This means they are happier and less stress out than their counterparts who work in an office. This translates in a healthier life style which means that you have to pay less on medical bills. You live a healthy life and save money which you would have paid for doctor fees or to buy medicines.
So you see that working from home can be a great money saver for you. As we have already listed above, there are numerous benefits of working from home. You can save money in more than one ways by working from home. So if you like working from home and get an opportunity to work from home, then this can come as a blessing to you. By working from home, you end up saving thousands of dollars annually, and this is really lots of money.