Contributed by Protecting.co.uk
24/08/2020 - Protecting.co.uk
Workers spend less as they ditch the commute and expensive lunches
Employees who have been lucky enough to keep their jobs and working from home during the pandemic have found themselves hundreds of pounds better off per month, simply because they’re not leaving the house.
With working from home the new normal for 49% of working adults in the UK, one UK company has found that there’s an unexpected financial benefit for ex-commuters who have swapped their office desk for the dining room table.*
UK based health and safety software specialists Protecting.co.uk have found on average that office workers were £500 better off a month just by working at home, just by cutting down on travel, food, and clothing expenses.
“Working from home has the unexpected benefit of saving people a lot of money because they aren’t having to pay travel costs to go anywhere or splash out on expensive coffees and lunches,” says company spokesperson Mark Hall.
“And now that staff have proved to employers that they can work efficiently at home, travelling into an office may seem like nothing more than an expensive commute.”
“It’s like a pay rise without getting a pay rise”
The Office for National Statistics has revealed that collectively the UK has saved £157billion over the three months of lockdown**, with the average person saving £495 a month.
Hall: “It’s no surprise that people are saving more when they’ve been stuck at home, there were no pubs, shops or restaurants open to spend in, and no need to fork out on clothing when we’ve all been lounging around in our comfy gear at home”.
Health and safety experts Protecting.co.uk asked people online if they have been able to save during the lockdown period, and it’s safe to say that not everyone has felt financially better off.
“It definitely varies depending on individual circumstance, but working from home does have its financial benefits,” says spokesman Mark Hall.
“For example, I stay in pyjama bottoms and just chuck on a shirt for any online meetings, so I’m saving myself money by only having to buy half an outfit!”
What to do with this extra cash
Now you’re quids in, you have a lot of options of what to do with your money, so here are a few ideas Protecting.co.uk have put together for you to consider:
Hall: “Ultimately, just make the most of it. Nobody knows how long this cash boost will last, so enjoy it whilst it lasts and find a way to make your money work for you.”
Protecting.co.uk have provided a free to use COVID 19 risk assessment that can be completed online or downloaded and adapted https://protecting.co.
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