Are there significant financial benefits to working from home?

workingWe all recognise the importance of office jobs, yet there are also ways that home offices indicate independence. Offices after all are themselves expenses – both for business owners and workers. For business owners, it means paying rent or municipal fees; for workers, it means travel and arrangements that require us to be comfortable to be there.

To work from home is, of course, ideal for many people. Though not everyone enjoys it, many are finding that it helps them in many ways – especially in terms of finances. As Forbes notes, many who work from home consider a reduction in expenses the main reason to consider it, listing petrol cost saving as one of the highest reasons to work from home.

Of course, business managers do have an issue with this. The paper Forbes analyses says:

“Business leaders assume employees who work remotely and take advantage of the policy are not really working. This is because of the loss of control. Employers lose direct oversight and cannot witness productivity firsthand.”

But as Kevin Kruse highlights, employers who think this “think they are “witnessing productivity” when a worker sits in her cube, but they are really just witnessing presence.” Indeed, employers need other, better and measurable ways to see whether productivity occurs – that way, physical presence in the office would not be considered mandatory for the work at all.

After all, if the employee can’t be trusted to do the work they’re paid for every day, then that is not an employee worth paying in the first place.

But if you wish to start your own business, perhaps home offices are the best way to do that. To help start that, you need to be aware of different kinds of finance interventions and applications. You need to be aware of your finances and what you can and can’t pay for.

By working from home, you need to be able to still support yourself. Your home still needs to be paid for of course, so that might be your first focus even before you begin thinking about setting up a business – though you might end up in a scenario of needing money to pay for it in the first place.

By looking at tools like a bond affordability calculator for instance, you can have a better sense of what to do and what to pay for. This means setting up with proper office tools and so on, that can lead to productivity. It might be beneficial to not work from home immediately, but share cheaper spaces with others in order to get started.

These are just some considerations, tied directly to finance, about whether or not we should work from home – whether as business owners or employees.