Chances are that without all the parties, beers in the pub and dinners outside the door you will save a lot of money during this period. Working alone from home means you spend a considerable amount less. You can now use that to grow your savings. Do not forget to pump money into the economy, because if everyone sits on their money, it is not good either. Either way, this is exactly how much you save, and that’s probably more than you realize.
Below we discuss different scenarios that may apply to you and how much you currently save in these scenarios.
1. The coffee addict with a long travel time
Suppose you had to travel to work for about an hour before the pandemic and treat yourself to coffee every day to ease the pain. This not only ensures that you now save 12.50 euros per week, because you no longer treat yourself to a coffee. It also saves you another ten hours a week where you can actually do extra work and thus generate extra income.
And then we have not even talked about the petrol or travel costs that you save if you were not (or partly) reimbursed by your employer.
2. The employee who always looks great
Staying at home as much as possible probably means taking your personal care and style a little less seriously. With no one else to see, enough days went by that you hadn’t done your hair and spent the day in your sweatpants. And that while you always looked great at work.
Chances are that you have saved on products and clothing. But let’s be honest: isn’t the pressure for new clothes and shoes much lower now that there was no one to admire them?
3. The “I never take my lunch from home” type
If you bought your lunch in the canteen every day or at the fishmonger or bakery further away, you will definitely feel it in your wallet – the right way. Do you assume 5 euros per day (and secretly we all know that the amount was higher on many days)? Then you already save about 25 euros per week and 100 euros per month.
A US study calculated what people who work from home would save on these three categories (travel, coffee and food and clothing). They concluded that home workers save at least 1,800 euros a year.
Calculate your direct debit
Of course, only you know how much you really save at the moment. Take an hour to compare your pre-crisis spending with your spending now. It will surprise you. Now that you know how much money you save with working from home, you can set up a direct debit to transfer that amount to your savings account as soon as you receive your salary.
What if we go back to the office later?
While it currently looks like we’ll be working from home until September, the day will come when we’ll just go back to the office. How do you keep saving then? Hopefully you have learned lessons during this time that will help you with this. For example, that you can make delicious lunches at home and take them with you. Or that you really don’t have to buy new clothes every month.
Do you normally spend a lot of money traveling to and from work? Then talk to your boss about whether you can work from home more often. He or she has now seen that you can also be productive from home. Therefore, do not immediately assume a no.