Money Hacks

Tips to Optimize the Money-Saving Potential of Working From Home

Recent studies have conclusively proven that working from home can save professionals a considerable amount of money–as in thousands of dollars added up over the course of the year. These savings can make a big difference in the grand scheme of things, and it isn’t only money but time, which may be even more precious.

If you want to save money from working remotely there are certain ways to go about it to get the most benefit. The following tips can help you optimize the money-saving potential of working from home.

For starters, actually work from home

While many workers love the ability to travel while working remotely, you can unlock the full money-saving potential of this opportunity by actually working from your home most of the week. Sticking to your home office will save gas money that would have otherwise been used on your commute. Even working from home three days a week will result in gas savings of more than half. 

Make your own morning coffee

Hard-working American professionals live for their morning coffee … and possibly a second cup over lunch break or on the way home. But even if you don’t splurge when it comes to coffee, the average cup of Joe costs around $5.

Even if you buy just one cup a day, it still amounts to $25 a week … or $1,300 a year. 

Brew your own cup | Submitted by Shane Carrick

Don’t print unless necessary

Working remotely has many benefits, but one downside is that you’ll need to purchase your own office supplies. Thankfully, the need to print comes much less frequent when working remotely, so take advantage of that. If printing isn’t necessary, don’t waste the paper and ink needed to do so. Rely on screenshots and other electronic ways of capturing information whenever you can.

Consider a wireless hotspot over a home network

A wireless hotspot is often provided by your phone company or by companies providing tiny routers. This option may not be ideal for everyone, but it is significantly more cost efficient if possible. Those who only need to connect one or two devices to an internet connection can end up saving between $10 and $40 a month. 

Cook lunch for yourself

If you want to save money working from home, then take the time to cook lunch for yourself at home. The average person spends between $10 and $20 daily on takeout when they work outside the home. That same $20, however, could make you lunch at home for an entire week with just a little budgeting. 

You might be able to write off that home office come tax season | Submitted by Jessica Wick

Have a dedicated home office

When tax season rolls around, having a dedicated home office can save you. If there is a space you use solely for your work you can claim a tax deduction. Keeping track of supplies purchased, or any other costs of working remotely, can also help you to get the largest deduction possible come tax time.

Working on vacation

While the idea of working while on vacation may not seem like the best idea, keeping part-time hours while traveling is one of the biggest perks of working remotely. By snagging an hour or two of work before starting off your vacation day, you can negate much of the costs of the trip itself, thus, saving money in the long term.

Forget the professional clothing

Those working remotely may have need of one or two professional outfits, but generally speaking you could be saving money working from home by ditching the professional wardrobe. Instead, wear what you are most comfortable working in. There’s no longer a need to buy dedicated “work clothes.”

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