If you thought working at home was going to save you money, think again.
If you thought working at home was going to save you money, think again.
Despite the potential for savings on commuting-related expenses, dry cleaning bills, and shopping for work attire, there are other less-obvious expenses that can really pile up while working from home.
Many employees may not realize they are likely plunking down significant change on below-the-radar things like electricity bills, phone data plans, supplies for their home office, and personal device wear and tear, says Patrick Donnelly, vice president and senior wealth advisor at The Colony Group, a registered investment advisor.
“With summer fast-approaching, those electricity bills are going to increase even further as the heat sets in and the air conditioners are cranking,” he says. “Employees may be incurring the costs of basic office supplies (think ink cartridges) and they may even be purchasing desks, chairs, monitors and other critical office items.
