When most people hear about working from home, they immediately think of the advantages. Alongside enjoying a more flexible schedule, you can save on things like commute, parking, laundry, and eating out.
That being said, it doesn’t mean that there are no expenses associated with working remotely. You still need to plan ahead for the unexpected.
Below we are going to talk about five hidden costs of working from home.
Let’s get started!
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Home Office Set-Up
While most individuals understand they will require a home office set-up, not many realize how much it can cost. Investing in the appropriate devices and WIFI can be expensive, and your company may not always reimburse you.
Alongside the one-off costs, there are also regular expenses. For instance, your toner cartridge will have to be replaced frequently if you use your printer daily.
Another expense that you will want to keep in mind is the increase in your utility bill. When you’re at home, you will use more electricity and water.
So yes, while you can save money in other areas, different things will add up. You’ll need to be prepared before your next payment is due.
This one may seem a little strange, but it’s still something that you should take into consideration. You may not be eating out as much when you’re working from home, but you could find that you develop some bad snacking habits.
It’s easy to wander to your fridge or pantry when you get peckish, which can quickly increase your grocery bill. It may not be by much, but it can still be noticeable.
While distractions might not seem like much of a hidden cost, they can lead to reduced income. If you’re regularly getting distracted or struggling to stay motivated, you could find that you don’t complete tasks on time.
If you get paid as a freelancer, this can lead to heavy losses, and you may not be making as much as a regular job. If you work for a company, you could even lose your position if you start to slack off.
Wear and Tear
Finally, another factor that you will need to think about is wear and tear on your own devices, such as your laptop, computer, and phone. When you’re using them every day, they will have a shorter lifespan than if you were to work in an office.
Again, this may not account for too much over time, but repairs and having to replace devices altogether can be quite substantial. You don’t want to end up short in other areas because you haven’t anticipated a break-down.
As you can see, there are quite a few hidden costs of working from home. However, while they can seem extensive, it’s essential to think about all the advantages and areas where you do save.
It might not be for everyone, but for others, it can be the perfect way to obtain an outstanding work-life balance.