# How working from home saves you money
Have you ever thought about how much money you spend whilst at work without even realising it? Have you wondered whether working from home would actually save you money?
Well, it turns out there is quite a lot of 'hidden costs associated with going to work at an office'. Things you spend money on without even realising you are doing it. And these costs all add up.
This article takes a look at some of the most common regular costs you'll find yourself tapping your card for.
# Commuting to work
Perhaps the most obvious but also something that employees just see as a necessity - which it is when working from your company HQ all week.
Whether you get to work via train, bus or the subway, this cost can be as much as 10% of your salary per year on average. That's basically a 10% paycut for going to work rather than working from home.
Even if you have the luxury of driving to work in your own car, you still need to consider fuel costs, parking and even emissions charges in cities such as London and Paris.
When working from home fully remote, your commute costs are effectively removed. You'll likely still need to attend various meetings and catch ups throughout the year but on the flip side of above, working from home can almost feel like a 10% payrise.
Even if you are a hybrid worker, you could save 20%-30% a week on what would be your commute costs if you working full-time from the office.
# Buying lunch at work
Have you noticed grabbing lunch somewhere near your work is more expensive recently? You're not alone. With the cost of living rising sharply, a lot of businesses have passed on increased supply costs back to the customer. This means your tasty chicken wrap probably costs double what it did 3 years ago.
If you don't take your lunch into work, such as a sandwich or leftovers, you may find yourself grabbing a nearby meal deal, street food or popular local choice. These costs add up quickly. If you are paying $10 a day on lunch and work full time, that's $50 a week and up to ~$2,500 a year.
Even if you do bring in your own lunch, the social peer pressure is always there to join your colleagues for lunch and find yourself spending more than you budgeted for that week.
Of course if you are working from home you still need to buy food to sustain yourself and it's less convenient than having the food prepared and given to you, but the cost savings over a span of a year can be staggering.
# Being social at work and after work
Similar to the social peer pressure around going for lunch with your work colleagues, there is often the invitation to go for drinks after work. This could be a bar linked to the co-working space you are situated at, or your local boozer.
Some companies have quite a common drinking culture, meaning colleagues will be hitting the bar on most nights for a 'quick one' before heading home.
The problem is a pint of beer costs a whole lot more now than it did a few years ago. I was in a nice bar in Notting Hill recently and a pint of Beavertown Neck Oil was a staggering £7.20! Those costs add up.
Working from home means you aren't necessarily tied to the after-work drinking culture that may be present at your organisation. Therefore you can save a lot of money by having an occasional drink at home instead.
However, it's important to have social for the benefits of your mental health so don't block out social entirely. If you are within decent distance of your office, consider joining your colleagues for a drink every so often.
Alternatively, if you are a fair distance away, you could consider hosting a Zoom where you and a few colleagues (who may also be remote) get together virtually and all have a drink together and catch up, maybe do a quiz or other activity using a tool like Kahoot!
# Coffee to help you work
First a disclaimer: Out of all the hidden costs, this is the one I am guilty of the most when working from the office. I love an oat mocha.
The problem is, coffee is more expensive than ever and is really easy to buy. Whether it's a subscription from your nearby Pret giving you discounts on up to 5 drinks a day or the barista in your office building providing subsidised drinks, the costs really do add up.
There's a reason they call Costa Coffee 'Costalot' round here.
Unless you are lucky enough to work somewhere like a WeWork which in the main hubs include a free barista until 12pm, then you'd probably save a ton of money making the coffee yourself at home.
Yes okay, the milk might not be as frothy and it might not taste quite as good, but saving $3 a cup tastes pretty good to me.
If you are buying 2 coffees a day at $4 each, that's about $40 a week, which means over a year you are probably spending about $2,000 a year on the stuff. Buying a decent instant coffee and making it at home could save a significant amount.
Plus, by not being at the office you aren't surrounded by temptation, from the 5 coffee chains you walk past from the train station to your office door, to the smell of your colleague's cappuccino sitting next to you. That just makes it a whole lot harder to not resist. After all, just 9 more stamps and I get a free one! Surely that's worth $36?*
If you find you really can't get in without your frothy milk and smooth espresso at home, you could consider buying your own coffee machine[LINK].
It's a bit of a cost initially, and you may need to buy special coffee pods that work with it. But over a long period of time this would save you money vs buying the coffee regularly at the office or in town, and the coffee might taste (almost) as good!
*It's not.
# Communal events at work
Another week, another birthday, another colleague doing a charity bake off, another "loyal" employee leaving for a new adventure.
It all means money going from your wallet and into communal pots. This adds up.
Let's be honest, working from home won’t save you from all of them, but gives you an excuse to avoid some and save that money for those things and people who probably mean more to you.
So there you have it. How many of these costs did you find yourself forking out for without even realising.
Imagine a role where you could earn a higher salary working from home, and save on these costs. They exist, you know!