According to Zug, a Swiss-based serviced office provider at least 70% of the workforce work remotely one day per week and 53% for half the week.
The trend shows no evidence of slowing down and now, you’re ready to join the ranks. You have questions about the normal stuff like your new routine, disciplines and the most important concern—money. A financial expert like Pennon Partners can help you control debt. But for now let’s get started on some financial maintenance.
Expenses we take for Granted
1. The Most Popular Morning Ritual
Each day, the workaday public sets off to the office. There are rituals that include our favorite morning drug; coffee. Believe it or not, this is a habit that can cause some financial damage. The average person may spend just north of $4 to $6 for a coffee at any city coffee shop. It doesn’t have to be Starbucks, but that’s the most popular.
The total for the year runs near $1,400 per month. That never seems like much for the coffee aficionado for a year. However, if you show them the security that saving that amount can provide when their business is in a lull they’ll sing another tune.
Solution
Invest once and buy yourself a beautiful, sophisticated coffee maker. Maybe with a cappuccino attachment. Google how to make your favorite coffee drink. Get all the supplies and go for it.
You can purchase the brand of coffee from most coffee shops that you like. It’s the ritual that you’re addicted to. So make your own ritual. You’re free and happy working at home, make a new coffee ritual, save that big change and watch it turn into big dollars!
2. The Cost of Conveyance
Depending on where you live you may decide to not have a car for a while. If you always take the tube, train, bus or taxi to work, ditch the travel passes. Conveyance is an expense to the highest degree. You won’t see a return on the investment because it doesn’t appreciate.
Solution
If you can’t let go of your car, maybe you can purchase a hybrid, electric vehicle or downsize. Used cars aren’t so bad if you can avoid the brand-new car you’re already ahead. Do all that you can to make travel as low a bill as possible. The insurance in the cities is exorbitant. If you’re under 50 years old, rates will be high wherever you live.
Fuel should be much lower than when you drove to work each day. Try to find a cheap but big-brand gas station near you. You don’t want watered-down gas. Fill it up and experiment with how much gas you use in a week.
Challenge
For 30 days, keep track of the amount you spent on fuel; where you went each week and if the fuel lasted without you being on fumes. Research, what you can do to lessen the trips you take. You don’t have to be a prisoner to the house, you just need to be more efficient.
Do you make a lot of trips to the grocery store? Some people like to grocery shop for fun. If you don’t care for it then research home delivery options. For bulk items, you can use Amazon or Walmart.
Only do this if the delivery program does not exceed the amount you spent each month on fuel. Another solution is to plan your errands in a logical order from nearest to farthest and back. This way there’s no unnecessary repeat trips.
3. Entertainment
If you were really into the office culture, you may have made happy hour a part of your work-life culture. If this is something you miss with your office buddies, you can have a BYOB party at your house and then switch up the nights with a coworker.
If everyone brings their own bottle you save $4.00 per drink or more. You may have to read up a bit on any fancy drinks but rest assured, someone at the office can bartend.
You can do the same to save money by having a potluck lunch or dinner. This can replace going out to lunch a few times a week. If you aren’t close enough with your former office buddies for this then friends and family can do this with you.
Remember, it’s not the food, coffee or drinks that matter, it’s the ritual that people get used to. If you replace some of those things you’ll be happy you did at the end of the month with a better bank balance.
4. Don’t Forget Weekends
Saving money is a great habit but depriving yourself of recreation is a sure-fire way to overspend. It’s like dieting. If you starve yourself you’ll eventually binge eat and then feel guilty. It works the same in this case. Make sure you have money put aside for some form of recreation on the weekends.
If you work yourself remotely then the weekends may be any two days. If your work is for a company and you get to schedule projects, here’s a great tip.
Make your weekend days at times that you can do your favorite things. This way, you aren’t disorganized with spending.
5. Clothing and Shoes
Gone are the days when corporations gave employees a uniform allowance. In fact, if you do have a uniform, you get 3 shirts if you’re lucky and you have to invest in the pants and shoes. Always a good idea to keep khaki or black pants around for that reason. That’s just a side-note.
For others that had to buy top-of-the-line office clothing or a suit. If you paid for dry cleaning you’ll save a bundle. Besides, haven’t you always wondered what it’s like to work in your PJs?
Get your Debt Together
Now you have the time and extra resources to get a handle on your debt. Securing a financial company like Pennon Partners would be to your advantage. Not only will you have more spending cash but you’ll be debt-free in no time.
