How to Save Money While You Work from Home

by Josh Biggs in Tips on 13th January 2021

Although recent news about a series of coronavirus vaccines is encouraging, don’t expect to head back to the office any time soon. Many companies are considering continuing work-from-home orders throughout the vaccine distribution process. Some companies have even entertained the idea of permanently moving their workforce remote, viewing the pandemic as a trial run for a system that could significantly save on office space rental.

This should come as good news to people who want to save money. While remote work may not have the same social appeal as office work, it can be an opportunity to squirrel away a significant amount of savings. In this post, let’s discuss how working from home saves you money and offer a few tips for how to further those cost-saving benefits. 

How Working from Home Already Saves You Money

In the next section, this article will touch on actionable steps you can take to economize your at-home work experience. But there are a few basic ways that working from home already saves you money. They include: 

  • Commuting: Whether you traditionally get to work by car, bus or taxi, commuting costs money. By forgoing the simple act of transportation, you are already saving money monthly on gas, transit passes or cab fare.
  • Clothing: You don’t need a closet full of suits or formal wear to work from home, nor do you need to update your wardrobe often. While it’s still good to keep the occasional button-down short for Zoom meetings, you don’t need to spend an excessive amount of clothing when you work from home.  
  • Write-Offs: When you work from home, you can potentially write off your office supplies, internet and the home office portion of your utilities, tax, home insurance or rent. This saves a lot of money come tax time. 

Those are just a few ways you save money while working from home. But how can you further the cost benefits? Let’s find out!

How to Save Even Further

The greatest way to further save as you work from home is to ensure your house is energy efficient. When you work at home, you use more energy, especially heating, cooling and running water. The best way to invest in an efficient home is to install a new door and new windows. Energy-efficient windows and doors pay for themselves in reduced utility bills, plus they add elegance and natural light. If you plan on working from home indefinitely, look into replacing your old, inefficient windows and doors. 

Another way to maximize your cost-savings is to plan ahead for meals and coffee. Instead of popping out for a coffee every morning, invest in a simple pour-over device or French press. Instead of ordering delivery every lunch, make an extra portion for yourself each dinner and save yourself lunch for the next day. These simple practices add up. 

With a few simple changes to your routine and an energy-efficient upgrade to your windows and doors, you can save a lot by working at home. Who knows – you might even be able to retire early!

Categories: Tips