5 Benefits Of Remote Work
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Reading Time: 5 minutesThe pandemic has certainly disrupted our lives in so many ways, without question. One of those ways is the long debate about office vs. remote work.
I know from personal experience that I and some of my younger colleagues were advocating for more flexibility in regards to remote work. We were in sales positions and expected to be participating in activities outside the office. Yet, if we weren’t in the office between 8-5, there was this perception that those people were just “slacking off”. Fighting to get personal laptops in order to be able to work just from other company offices was a battle!
Well, the pandemic has forced this shift into the corporate world. According to Bloomberg, employees are choosing to quit instead of returning to regular office life!
Here are five ways that remote work is beneficial to you, financial and otherwise.
#1: Transportation Costs Aren’t Necessary With Remote Work
The most obvious financial benefit is the costs of commuting. That’s your gas, wear and tear on your car, and even insurance is higher when you’re commuting more.
And because I’m an analysis nerd, I even found a commuting calculator for you here! If the average miles a person commutes one-way each day is 16 miles, and the average price of gas is $3.00 per gallon, that’s over $1,000 per year alone for gas. When you factor in the other costs, it’s almost $4,700!
Now, if you were doing a hybrid work schedule and going in to the office maybe only 2 days, those numbers drop to $438 and $1,867, respectively. Wow, that’s like giving yourself a raise!
#2: The Costs Of Eating Out
Even if you tend to bring a lunch from home, you’re still more likely to buy a coffee or other food when you work in an office. You’re also more likely to attend happy hours with co-workers in an office setting. While this may sound very anti-social, I think people underestimate how much they actually spend on after hours outings.
It’s also nice being able to walk in your own kitchen and make your own food. That kind of perk is not usually available in an office setting.
The intangible benefit of at-home lunch hours is being able to see your family during that time, as well.
#3: Not Spending As Much On Clothing
When you work from home, there is less need for a large amount of office attire. Yes, you should still have office wear for the in-person occasions or video calls, but you wouldn’t need as much.
According to Business Insider, they suggest you spend 7% of your income on your business wardrobe. That seems a little high to me, but the point is that you do have an additional clothing expense when you’re working in an office than if you weren’t.
If you’re operating through video calls, you may only need to ensure that your top half looks presentable for the office setting. As a woman, maybe you have dresses that are too short to be appropriate office attire, but they’re perfectly fine if someone is only doing video calls. Your wardrobe can do more double duty!
Somewhat related is the cost of makeup. I would put on mine twice almost every day because I’d go to the gym in the middle of the work day. Now I can get ready after I do my workouts!
Think about it- there’s even less wear and tear on your shoes!
#4: Quality Of Life With Remote Work
Speaking as a millennial, I can say that our main priority for pushing for remote work: TIME!
I’m sure we’ve heard those crazy stories of people living in California who will commute 2 hours… ONE WAY! While most of us have maybe up to an hour commute one way, not having 2-hour commutes every day is obviously an upgrade on your quality of life and mental health, not to mention your time.
Speaking of time, isn’t nice to be able to take a 5 minute break to switch laundry to the dryer, or unload the dishwasher, and NOT have to wait until you get home and you’re tired? Or you forgot to defrost meat for dinner before you left for work in the morning, but wait! You’re at home, so you can run to the freezer and set it out now.
#5: Geographical Independence
If you’re able to be completely remote from your office, you now have geographical independence!
You could possibly move you or your family to a completely different location instead of basing your home on where you work. This can have some significant benefits if you move to a place with a much lower cost of living!
(If you’re in Canada or wanting to move there, my friend at Bear Money Blog has highlighted some awesome Canadian cities you could live in with your newfound geographical independence!)
If you’re not able to be totally remote but have a hybrid schedule (some days in office, some remote), you still have a little geographical independence. You could be with your family on an extended vacation and, as long as you have an internet connection and laptop, you could still complete your work. How great that you don’t have to cut a vacation short since you don’t have to return to an office!
The Supposed Disadvantages Of Remote Work
I understand to a degree how management feels about not having workers in the office: they feel the only way to ensure productivity is by being able to walk out and see their employees working.
However, from experience, if there’s a co-worker who’s just not productive, the fact that he sat in the office vs. remotely did nothing to change that.
I hear and understand also that management believes there would be a break down in culture. Again, I’d push back on that idea. Having worked in a small and then medium-sized business, I don’t fall for that argument. I’ve always found that the culture around and near the actual headquarters was different from the culture in other locations that were farther from headquarters. The culture was communicated through e-mails and other trainings, which you can still do remotely.
I know there’s also a perception that you may be less visible and not as likely to be promoted. However, I would argue that if your work is still top notch, and you’re regularly communicating with co-workers and your bosses, I don’t think we have enough data to conclude that those who work remotely are promoted less. I’m willing to take my chances, anyway. 🙂
Closing Thoughts
While this year or more of disruption has been frustrating and scary for some, maybe forcing a shift in the corporate work place can be seen as a silver lining? I think for sure that it has given us as employees the opportunity to really negotiate for remote work flexibility. The intangible benefits are great, not to mention the financial ones!
How do you feel about remote work? Or are you ready to go back to the office?
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5 Comments
BearMoney Dan
It really is crazy how much cohesion has been maintained alongside all of these new benefits. Buying a house is now a multi-city, multi-market process, hopefully this grows rural areas too. So many pontential upsides. The downside being less middle management, truly horrific…
The next logical step is making sweatpants count as business attire.
Robyn
I’ve been a remote worker for longer than it was cool or mainstream and I love it for all these reasons you mentioned. I save so much money on clothes, transportation, food, snacks, coffee. I happen to love working from home- I love the flexibility and the quiet but it can get lonely and isolating at times. Definitely pros and cons!
Ashley
Lucky you! Things probably aren’t much different for you then. After battling with my work place for years to even get a laptop so I could do some work from home, I appreciate the forced flexibility of the last year. It just proved that yes, indeed, we can do our work remotely.
Cristian @ Financial Alien
Interesting that I was talking to my wife about this very point last night. Before the pandemic, I was a 50/50 home/office employee. While that was nice and gave me at least 50% of the benefits mentioned above, it was missing the most important one: geographical independence.
Well, the pandemic changed that, and now I am a 100% remote employee. That allowed us to move back to Florida to be closer to the family recently.
Those companies that start forcing their employees to go back to the office will have a hard time retaining people. Employees have now had a taste of what it’s like to work from home, and most will not want to go back to a traditional office setting. And now more than ever, it is easier to find a new job that allows 100% remote work.
Steve @ The Frugal Expat
This is a very interesting topic to talk about. I would have to say that my job is pretty good when you are in the office since I am a teacher. As a teacher, I would rather be in the classroom teaching students. One thing that I do not like is our long planning weeks when we are not teaching. The commute is not fun at all. When I am teaching and not planning, I can sleep at my school so there is not commute.
Since we had a covid outbreak, our schedule is half WFH and half the time in the office. The semester ends this week so being in the office is mostly not as fun. I would rather WFH. There is plenty of time to make breakfast, knock out the work, and not have to waste time commuting.
I think with different industries different things can happen. I feel if you can be a digital nomad then life is much more better WFH. I have always disliked commutes, and being able to work from wherever in the world is such a great benefit.
Thank you for coming up with many of these points.