There have been profound changes in workplace culture in the last few years. One of which is the rise of remote work. Working from home has come with several advantages, including the potential for better mental health and increased productivity. In fact, one 2022 report states that 78% of people who work from home experienced better work life balance.
However, working from home also comes with some disadvantages such as the rise of household costs. Below is a list of several ways you can save money when working from home in 2023.
Consider your Energy Usage
It doesn’t take a genius to figure out that if you’re spending more time at home working, then your energy usage will undoubtedly go up. And during a time in which many countries are experiencing a cost of living crisis, increased energy usage can be extremely costly.
Consider, then, how to save money on your energy bills. This could range from turning down your thermostat by one degree, making sure unused electrical items are completely off rather than on standby, and using natural light to light your room rather than relying on electrical lights.
Another good idea is to layer-up! Consider adding another layer of clothing before you turn on your central heating. Finding energy-saving tips online can be really advantageous in reducing household costs while working from home.
Save the Money You’d Usually Spend at Work
While working from home does have its costs, you should also remember that you’re not spending money that you usually would during a working day.
You are not using fuel to get to and from work, or spending money on public transport. You are not grabbing that morning caffeinated pick-me-up as you rush to work. You are not spending money buying that meal deal because you once again forgot to prepare a packed lunch the night before.
There are several outgoings that have been reduced and you may consider putting the money that you did not spend into a savings account.
Save on Equipment
As you start to work from home, you may find yourself forking out for equipment to make your home office space viable for work and comfort. This can be a costly enterprise. However, it is important that you speak to your employer about any equipment that you can borrow for this purpose.
Equipment such as computers, software, office supplies and even office chairs. Even if you are unable to borrow the above, your employer may also reimburse you for the money you spend on the equipment, or at least contribute towards them.
Save on Clothing
Working at an office often means spending money on traditional professional attire such as expensive suits. Even if you work in an office with a more relaxed dress code, the cost of clothing can really eat into a budget if you are not looking.
By working at home, you can save on the cost of this workwear by foregoing the suit and tie in favor of more comfortable clothing such as a t-shirt and jeans. Even if you have to dress up for that morning video call, you don’t have to spend the whole day in these clothes.
Consider a Food Plan
Now that you’re working from home, the household food budget may rise slightly. However, the advantage of remote work is that it is much easier to make and stick to a food plan for the week. By making a weekly food plan, you can more easily budget your food-based expenses and plan ahead accordingly.
Consider tips like buying in bulk from wholesale retailers such as Costco, doing some food-prepping for the week on a Sunday evening, or reducing the amount that you eat out per week.