January 6, 2023
Frugal Friday this week is a tip that we all can agree on. And, thanks in part to the pandemic, made us realize how much we actually do save by working from home! The following three items factor into the cost involved in your weekly work commute.
1. Cost of Travel
According to a report by zippia.com, 74% of Americans commute to work each day throughout the week, traveling 41 miles to & from work. The average tank of gas is $3.228/gallon, at least at time of publication. And if your car has a 15 gallon tank, it costs $48.42 to fill up for the week. The average mile per gallon (MPG) on a car is 24.2 miles. That adds up to $27.35/week ($109.38/mo) just commuting to work. If you have a larger vehicle like a pickup, for example, that cost doubles, if not triples depending on the fuel type. Removing that weekly travel expense from your work schedule will significantly save you money in the long run.
Not only will working from home save you financially, it will also save you time. The average commute time is estimated at 52.2 minutes. At 4.35 hours a week traveling to & from work, that time can definitely be better spent with your family, getting house work done, or even dinner cooked.
2. Cost of Meals
If you've got the typical 8-5 job, there is usually a lunch break figured in as well. In a recent article, the average American spends $45.68 going out to eat each week. Take that times 2 adults, that's $91.35/week per household, or $365.38 a month. The cost of your 'lunch break' really adds up over the year. Working from home allows you to utilize leftovers.
3. Impulse Buys
Once you get to work, there's always going to be those random impulse buys. You're at work, what kind of impulse buys you may ask? Sporadic trips to the coffee shop; vending machine snacks; or shopping over your lunch breaks. By working from home, you eliminate these impulses. That is, unless you're an avid online shopper, or use such services like DoorDash. Realistically, you do save money by not having access to the coffee shops, vending machines or convenient retail stores.
Keep in mind that all these things are par for the course when you commit to a job away from the home. But as you can see, if given the option of working from home, it will be a much more cost saving option. Although, there is some relief for travel expenses and dining. CreditSoup offers several credit card options that offer rewards for gas purchases and eating at restaurants. Keep following us here at creditsoup.com if you enjoy learning how to save money and build your credit!
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