Image source: Getty Images

This may be a higher number than expected.


Key points

  • Many people have shifted to full-time remote work as a result of the pandemic.
  • While the savings may vary, here’s a look at how working remotely could improve your financial situation.

Before the pandemic, full-time remote work was something only a small percentage of salaried employees could do. But in the wake of the pandemic, more and more companies have realized that workers are in fact able to do their work from home and that in some cases it is not necessary to spend money on offices when remote work works just as well.

If you’ve had the option of working from home full-time, you might be inclined to take it for the savings that entails. And those savings may be bigger than you think.

Recent data from FlexJobs reveals that full-time remote work could result in annual savings of up to $12,000. That’s a lot of extra cash to stick in your bank account.

Check Out: This Credit Card Offers a Rare $300 Welcome Bonus

More: These introductory 0% APR credit cards made our top list

Where do these savings come from? On the one hand, working remotely all the time means not having to travel. This could, in turn, mean giving up a car if you only need one to get to and from the office, or spending less on refueling and maintaining a vehicle. Working full-time remotely could even lead to lower car insurance premiums.

Then there are savings on clothing. When working in an office, you need to maintain a decent rotation of business attire. And even if your office dress code is casual, you probably don’t want to show up in the same stained pants five days in a row. When you work remotely all the time, there’s less need to spend money on clothes.

Finally, when working from home, you can raid your own kitchen during the day when you need a caffeine fix or are hungry for lunch. Compare that to the cost of buying coffee at a local cafe or buying lunch, and it’s easy to see where the savings can really add up.

Is full-time remote work right for you?

Obviously, there’s money to be saved when working remotely full-time. But before you jump at the chance to sign up for this type of arrangement, make sure it really works for you.

If you live in a small apartment, you may find that full-time remote work makes you restless and claustrophobic. And if you rely on your job as a social outlet, working remotely all the time can lead to feelings of isolation and negativity.

There is also your physical health to consider. If working outside the home means having to walk 10 blocks to a train station twice a day, that’s forced exercise. If you’re convinced that full-time remote work will make you a full-fledged couch potato, you might want to reconsider.

All told, there’s a lot to be gained (and saved) by doing your work from home all the time. But before you go that route, make sure it really is the right call. Alternatively, you can always try arranging a hybrid schedule that allows you to work from home for part of the week without feeling trapped.

Alert: The highest cash back card we’ve seen now has 0% introductory APR through 2024

If you use the wrong credit or debit card, it could cost you dearly. Our expert loves this top pick, which features an introductory APR of 0% until 2024, an insane payout rate of up to 5%, and all with no annual fee.

In fact, this map is so good that our expert even uses it personally. Click here to read our full review for free and apply in just 2 minutes.

Read our free review