Telecommuting or working from home has become increasingly common in recent years. Advances in technology make it easier for people to work from home, and many employers are now offering telecommuting options as a benefit to their employees.
While telecommuting offers many benefits, one of the most significant is the potential to save money. In this long-form blog post, we will explore how telecommuting can save you money in various ways.
Save money on transportation
One of the most significant advantages of telecommuting is that you can save money on transportation. If you commute to work every day, you are probably spending a considerable amount of money on gas, tolls, and parking.
If you telecommute, you can eliminate these expenses completely. You won’t have to pay for gas or tolls, and you can avoid parking expenses altogether.
Let’s take a closer look at the potential savings:
- Gas: According to the U.S. Energy Information Administration, the average price of a gallon of gas in the United States is $3.14. If you commute 20 miles each way to work, five days a week, you’re driving about 200 miles per week. That adds up to $25.60 in gas each week or $1280 per year.
- Tolls: If you live in a city with toll roads or bridges, you may be spending a significant amount of money on tolls each month. For example, if you live in New York City and commute to Manhattan every day, you could be paying up to $15 per day in tolls. That’s $300 per month or $3,600 per year.
- Parking: If you work in a city, parking can be a significant expense. According to the National Parking Association, the average hourly rate for parking in a parking garage in a city like New York or Chicago is around $30. If you park for 8 hours a day, five days a week, that’s $1,200 per month or $14,400 per year.
All of these expenses can add up quickly, and telecommuting can help you save a significant amount of money each year.
Save money on food and drink
If you work in an office, you may find yourself spending a lot of money on food and drink every day. Whether you’re grabbing coffee on the way to work, buying lunch in the office cafeteria, or going out for dinner with colleagues, the costs can add up quickly.
If you telecommute, you can save money on food and drink in several ways:
- Coffee: According to a survey by the National Coffee Association, the average American spends $21 per week on coffee. That’s $1,092 per year. If you work from home, you can make your coffee at home and eliminate this expense altogether.
- Lunch: If you work in an office, you may be spending a significant amount of money on lunch every day. The average American spends around $3,000 per year on lunch. If you work from home, you can prepare your food at home and save a considerable amount of money.
- Dinner: If you work in an office, you may find yourself going out for dinner with colleagues after work. This can be a fun way to socialize, but it can also be expensive. If you work from home, you can save money by cooking your dinner at home.
By telecommuting, you can eliminate or reduce your expenses on food and drink, which can add up to significant savings over time.
Save money on clothing
If you work in an office, you may feel like you need to have a professional wardrobe. This can be expensive, especially if you need to buy a lot of new clothes or accessories.
If you work from home, you can save money on clothing in several ways:
- Professional clothing: If you work from home, you may not need to wear professional clothing every day. This can save you money on suits, dresses, and other expensive business attire.
- Dry cleaning: If you work from home, you may not need to dry clean your clothes as often, which can save you money on dry cleaning bills.
- Casual clothing: If you work from home, you may be able to wear more casual clothing, such as jeans and t-shirts. This can be less expensive than buying professional clothing.
By telecommuting, you can save money on clothing and accessories, which can add up to significant savings over time.
Save money on childcare
If you have children, you may be spending a considerable amount of money on childcare while you work. According to a report by Care.com, the average cost of childcare in the United States is $243 per week, or $12,636 per year.
If you telecommute, you may be able to save money on childcare in several ways:
- Daycare: If you work from home, you may not need to send your children to daycare every day, which can save you money on daycare expenses.
- Babysitting: If you work from home, you may be able to hire a babysitter to watch your children for a shorter amount of time each day, which can save you money on babysitting expenses.
By telecommuting, you can save money on childcare expenses, which can add up to significant savings over time.
Save money on healthcare
If you work in an office, you may be spending a considerable amount of money on healthcare. According to a report by the Kaiser Family Foundation, the average American employee pays $1,243 per year for single coverage health insurance.
If you telecommute, you may be able to save money on healthcare in several ways:
- Insurance: If you work from home, you may be able to find a less expensive health insurance plan.
- Doctor visits: If you work from home, you may have more flexibility to schedule doctor visits at times that are more convenient for you, which can save you time and money.
- Sick days: If you work from home, you may be able to work even when you’re feeling under the weather. This can save you money on sick days and doctor visits.
By telecommuting, you can save money on healthcare expenses, which can add up to significant savings over time.
Conclusion
Telecommuting offers many benefits, including the potential to save you money. By eliminating expenses like transportation, food and drink, clothing, childcare, and healthcare, telecommuting can help you save a significant amount of money each year.
If you’re interested in telecommuting, talk to your employer about whether it’s an option for you. Even if your employer doesn’t offer telecommuting as a benefit, there may be ways to negotiate a telecommuting arrangement. Consider the potential advantages, including the potential to save money, and make a case for why telecommuting could be a good option for you and your employer.