People often assume that working from home works out as a lot cheaper than needing to go into an office every day of the week. But is that really the case? Sure, you won’t have a daily commute any longer so won’t need to pay a huge sum towards gas or public transport tickets anymore. You also won’t have to buy your lunch out so much. However, there are still ways that working from home can cost you a significant amount of money. For instance, if you work from home all winter, you will probably use a lot more energy, which could see your utility bills rise significantly. Don’t worry too much, though. It can be easy to cut the costs of working from home. Read on to find out more.
Get A Business Phone
Generally speaking, it isn’t a good idea to use your home’s current landline phone for business calls. This is especially the case if you are on the phone for most of the day because of work. You will find that it works out a lot more affordable to use some business phone systems as these have been developed with professionals in mind. You might also want to consider a business phone that can call people over your WiFi connection.
Think About What Can Be Claimed As An Expense
Once you have set up a home office, you will find that you have a lot more business expenses. That isn’t necessarily a bad thing in this situation, though, as they can be used in your annual tax return. You deduce all of your expenses from your overall profit, and are then only taxed on the remaining profit. So, as you can see, they can help you bring down your final tax bill. If you aren’t sure what can be classed as a business expense in your home office, it’s worth chatting to your accountant about it.
Consider How You Pay For Travel
You may not have a commute any longer, but you might still need to travel to get to business meetings and conferences. Planning this travel carefully and thinking how you pay for it can save you some cash in the long run. If you are traveling in a city on most days, it will be worth buying a monthly travel card. However, if you are only using public transport for three to four days a week, it could save you money to buy a weekly ticket. There’s no need to pay for too much travel, as you will end up spending too much on unnecessary tickets.
Watch Your Energy Usage
Are you not too happy about needing to have the heating on all day while you work at home? Changing how you dress could be the best solution. If you wear lots of layers, the body will be better insulated, so you may not to have to heating on for as long or for as high. To cut down on electricity usage, make sure appliances that aren’t being used are turned completely off and not left on standby.
See, saving money working at home is possible!