We all know there are a lot of expenses you can save when you work remotely.
Transportation expenses, food expenses, and the like.
However, did you know that there are quite a number of unexpected costs you can reduce while working remotely?
Curious? Here are 7 you can take advantage of.
Convenience Store Snacks
Do you like to eat snacks in your office cubicle? For most, it’s a resounding yes.
However, a lot of employees buy their quick bites in convenience stores, which are more expensive than in grocery stores.
On average, the prices go up to 20-30% more. Even as much as 60% higher if you’re in an upscale commercial area.
With remote work, you can stock up on your office snacks at much lower prices.
Laundry and Clothing
When you work in an office, you need to look presentable and professional. That’s why you should invest in quality clothing.
This cost piles up as you need to update your wardrobe. Don’t get me started on laundry expenses.
When you work remotely, you’re not required to dress up, aside from occasional virtual meetings.
With less need for professional attire, you’ll save more money.
Dining Out
How much are you spending on restaurants during lunch? For some, it’s a big chunk of their daily budget.
Yes, you can bring a packed lunch to save money. Although sometimes, you can’t exactly refuse when your peers or superiors invite you to lunch out.
Well, you can cook your own meals at home at a fraction of the cost.
You can avoid dining out when you don’t want or need to when you work remotely.
Nights Out
There’s nothing wrong with going out with your office mates after work. However, sometimes, you can’t turn down an invite.
This could be due to the fear of missing out (FOMO) or because it’s an invitation from your boss. Sure, it can be fun but it comes at a cost.
When you work remotely, there’s no more pressure to attend unplanned nights out. Imagine the money you could save.
Rent
The beauty of remote work is that the pay is the same regardless of where you are.
In fact, you can earn salaries similar to those in central business districts, even if you’re in the province.
With the high cost of rent in Metro Manila, some opt to relocate to more affordable neighborhoods. Some even in far-flung locations.
Now, you have the option to lower your rent expenses by relocating.
Medical Expenses
Did you know that you can lower your medical expenses when working remotely?
When you work from home, you have less exposure to pollution and viruses. Thus, there’s less risks of getting sick.
When combined with a healthy lifestyle, you can reduce your future medical costs.
Taxes
Most remote workers opt to be independent contractors instead of employees. There are definitely advantages and disadvantages to both.
One advantage for remote workers is tax savings. See, when you’re an employee, you are taxed on your gross salary.
For example, let’s say you earn PHP 30,000 a month. Your taxes will be roughly this amount:
With this computation, you receive your income after tax deductions, which is roughly PHP 28,000 per month.
On the other hand, remote workers can deduct some of their necessary expenses from their gross income before they’re taxed.
For the same example above, here’s the comparison assuming you have an average internet bill of PHP 2,000 and an electricity bill of PHP 3,500.
With the same income, you have less taxes due because you can deduct your internet and electricity bills before tax.
(If you want to learn more about computing your taxes, you can check this guide on how to file your taxes as a remote worker or freelancer.)
Remote work definitely enables you to save a lot of money, especially with the costs listed above.
So if you want to enjoy the same benefits, you can sign up through Remote Staff for the best online job opportunities for Filipinos.
Register today!
