This Is How Much Money Working From Home Can Save You (Hint: Thousands)
Yes, working from home is a boon for work-life balance—but it can also save you a chunk of cash every year.
There are countless reasons to pursue work-from-home job opportunities, or even the option to work from home for at least part of the week at your current job: You can achieve a better work-life balance, maintain a healthier workspace, have more flexible hours, and even be less stressed.
And now, there’s yet another motivator behind looking for work-from-home opportunities: The money you could save. Remote job search site FlexJobs recently released an analysis of how much money people can save working from home, and it’s no small sum.
According to FlexJobs, working from home can save you at least $4,668 per year. The analysis breaks down six areas where remote workers can save their pennies: gas (at least $686 saved per year); car maintenance (at least $767 saved per year); dry cleaning and laundering ($500 to $1,500 saved per year); office lunches and coffee (at least $1,040 saved per year); professional clothes (at least $925 saved per year); and tax breaks (at least $750 saved per year).
These numbers are estimates based on labor statistics, AAA figures, and more, and if you think about it, it makes sense: Working from home means putting fewer miles on your car, especially if you had a long commute previously. And when your office is your living room, no one cares what you wear (or whether it’s crisply ironed), so you can drastically decrease how much money you spend purchasing and caring for an office-appropriate wardrobe.
An extra $4,000 a year may not be life-changing, but it is certainly enough for a grand vacation or to help make a dent in loan payments. And if you’re lucky enough to land one of these high-paying work-from-home jobs, you can shake up your financial situation in a big way. Even working from home one or two days a week could help you capitalize on these savings opportunities.
For more information on the methods behind FlexJobs’s analysis, see the full post here.