Does Working At Home Save You Money

Does Working At Home Save You Money

Visions of​ working in​ one’s pajamas are easily conjured up by many who yearn for the​ ‘freedom’ to​ work from home. at​ a​ glance,​ it​ seems that the​ question of​ if​ money will be saved by working this way is​ trivial. of​ course,​ you will save money on​ commuting,​ on​ business attire,​ expensive lunches,​ and even the​ giving of​ corporate gifts,​ etc. the​ question of​ saving money from working at​ home is​ so-o-o-o obvious (and if​ said by my teenager would be accompanied with a​ roll of​ the​ eyes!).

Before you start bankrolling those savings for a​ cruise,​ I want you to​ again,​ stop,​ and see if​ you can take the​ concept of​ ‘saving money’ – which you will – to​ the​ ‘reinvestment of​ money’ – which you will.

It is​ prudent to​ sit down and go over your budget for the​ past six months to​ a​ year. What you are trying to​ separate out is​ the​ money you spend on​ work-related things in​ your life. You want to​ look at​ the​ money you spend on​ the​ following items:

- Travel,​ transportation (including tolls/parking/tipping of​ lot attendants); include also a​ portion of​ your car’s depreciation and maintenance.

- Clothing – Business attire including shoes/haircuts/makeup,​ etc.

- Lunches and dining out that is​ business related and not reimbursed.

- Gifts; from thank you gifts,​ to​ the​ birthday gift for your boss,​ for the​ farewell and other celebratory gifts you are asked to​ contribute too.

- Office Supplies – the​ truth is​ that be it​ a​ briefcase,​ pens,​ or​ a​ stapler,​ most of​ us contribute to​ the​ corporate office budget rather than take things from work. if​ you use your home computer and phone for work,​ then you are subsidizing your work using your own equipment too.

- Contributions – Think back and estimate the​ money you spend on​ charitable contributions that perhaps you would not choose to​ do,​ or​ would choose to​ do differently. This includes everything from employee giving campaigns to​ Girl Scout cookies.

There are other things as​ well,​ but this little exercise is​ a​ big revelation in​ terms of​ where a​ lot of​ your money is​ being recycled back into your job!

Now I am not advocating that because you work from home you stop paying attention to​ appearance or​ stop donating to​ charities of​ your choice. I am saying that ,​because a​ significant portion of​ those expenses will be reduced at​ some point as​ you build your business,​ that you set aside a​ budgeted,​ monthly portion equivalent to​ at​ least one-half of​ what you normally (and usually unknowingly) spend a​ month on​ these items. This will be the​ beginning of​ your capital stake - funds you will use to​ ‘reinvest’ in​ equipment and training for your own business.

Notice – I am not speaking about dipping into your retirement savings,​ maxing out your credit cards,​ or​ denying your family of​ anything extra. I am talking about plain,​ old linear math and plain,​ old linear thinking.

Amidst the​ real changes that I have been discussing with you regarding a​ change in​ your attitude towards work,​ your life,​ and the​ people you want and have already in​ your life,​ I am asking you to​ change your attitude towards the​ importance of​ spending money for work instead of​ on​ work. Begin to​ give to​ yourself,​ and as​ the​ well fills up,​ you will attract the​ resources to​ give to​ others!

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