In today’s economy, everyone is looking to cut expenses and make the most of their money. Working from home, rather than commuting to a more traditional work space, is a cost-effective option for business owners, employees, and especially for those just starting a business. Even if you only telecommute a few days out of the week, this increasingly popular alternative can save you money and give you more time to accomplish your professional and personal goals.
For Business Owners:
If you have your own business or are just starting one, running it out of your house can significantly cut down on your costs. First and foremost, working from home eliminates the need for buying or renting a storefront, which will save you on related expenses such as utilities and maintenance. When you get rid of a separate workspace, you avoid additional bills for amenities such as electricity, Internet and phone services, cleaning services, and trash pick-up.
Working from home also frees you from worrying about the security of your office space when you’re not there and saves you the monthly expense of paying for the services of a security company. Moreover, operating out of your home means that you don’t have to pay for commercial property and liability insurance. Just make sure that you review your local and state regulations to ensure that you meet all the legal requirements and that this option is the best for you and your business.
Many companies are now offering employees flexible work hours and the choice to complete work at home one or more days each week. Whether you are a full-time telecommuter or only work from home a couple of days a week, your savings on gas, highway tolls, and vehicle maintenance will quickly add up over the course of a year. Furthermore, you’ll save on related expenses such as eating out for lunch and dry cleaning for your professional wardrobe.
If you have young kids, working from home will significantly cut down on your childcare expenses. A more flexible schedule allows you to take care of your kids and complete your job duties while your children are napping, at school, or after they go to bed for the night. Many employees find that having the ability to choose their work hours and location increases their productivity and job satisfaction.
While working from home gives you the opportunity to save money, you need to make sure that you establish guidelines for yourself so that you can separate your home life from your work responsibilities.
Start by setting up a space in your house that is removed from distractions and dedicated to your job. Whether it’s your garage, basement, an extra bedroom, or even just your dining room table, make sure that your work area is clutter-free and has all of the equipment that you need in order to be successful. Additionally, set up “office hours” for yourself to hold yourself accountable and ensure that you stay on top of your workload.
Overall, whether you are an employer or an employee, working from home can not only cut down on your expenses, but also reduce your stress and give you more time to spend with your family.
written by: Stephanie Marbukh
Stephanie Marbukh is a freelance blogger who writes about topics ranging from money-saving tips to Internet news.
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