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Last Updated on October 20, 2017
Though it is certainly true that working out of your home brings with it a certain set of start-up expenses, these are easily offset by the savings such an arrangement can produce. Even a part-time telecommuting arrangement can positively impact the bottom line. Therefore, if you are among those contemplating a switch from a traditional office to working from home, the following considerations may prove helpful.
The Cost of Your Commute
Those who typically use public transportation to get to work will start experiencing real savings right away. When it is no longer necessary to shell out cash each day to get to the office, the surplus starts to accumulate rapidly. However, those who telecommute just part of the time may lose out on discounts that are sometimes offered to those who pay a full-time schedule’s worth of transportation fares in advance.
Workers who usually drive vehicles to work may generate more substantial savings, though they may not be instantly obvious. In addition to cutting back on gas expenditures, telecommuting places less strain on the vehicle itself in terms of mileage, wear and tear. Thus, there will likely be lower repair and maintenance costs, and perhaps discounts on auto insurance premiums as well.
While not every parent who works from home will experience savings in the realm of childcare, there are many who can. While a work-at-home parent will likely need to enlist the help of a caregiver for at least a portion of their working hours, they may not need assistance for the entire day. This fact is almost sure to result in additional money in the bank.
The Value of Time
Everyone will see a different set of benefits in this category. Time is finite, and working in a traditional office setting often requires parents to opt for time-saving conveniences which usually come at a high price. By working at home, some of these expenditures can be greatly reduced. For example, a work-at-home mom can spend more time volunteering at school instead of spending greater amounts of fundraising campaigns there. Small home repair tasks can be completed without calling a professional. Cooking meals at home rather than dining out will undoubtedly save money, and comparison shopping for Internet service, satellite tv and other household expenses can make a huge difference.
Given the ubiquitous nature of mobile phones and high-speed internet, there is almost no need to maintain a land telephone line any longer. Many workplaces encourage the use of Skype and similar VoIP-based calling applications, and this is something that can save a great deal of cash. Making a few phone calls to Internet providers, cable companies and the like can also go a long way toward cutting monthly expenses while increasing at-home productivity.
Even those who work inside the house must nourish themselves during their shift. However, making meals at home instead of grabbing food at a restaurant each day is a strategy for realizing massive savings. Not only that, using fresh ingredients is likely to boost health and also generate leftovers that can be used for making a nutritious evening repast later on in the day.
The savings work-at-home employees see in terms of coffee and tea expenditures can really stack up as well, considering that a full pot can usually be made at less expense than a single cup would cost at a cafe.
There can be no doubt that working at home is something that can have a positive impact on anyone’s financial situation. The key is to understand precisely how to maximise the potential and watch bank balances grow!