Flexi work: How Much Working Just 2 Days a Week From Home Can Save You in a Year

The world of work is changing. The changes are being brought about by advancement in technology which makes us think differently about work. However, technology is not the only driver of change in the workplace, the economy is having its fair share of impact too.

The first way that the economy is impacting the workplace is by companies outsourcing some of their work to economies where labour is cheap. This benefits the company as it reduces its cost but also benefits the residents of the lower economy country as they get work.

Secondly, the economy has had a pinch in people’s pockets in that people are finding ways to save as much as possible. The cost of fuel and transport to work has been on the rise hence the price of food, your lunch at work is getting expensive, the wear and tear of your work clothes and your car is also increasing. This is where the idea of Flexi Work (Flexible Work) comes in because it can help minimise some of these costs

What is Flexi work?

Flexi Work is any type of work arrangement where one's working hours are not fixed like the nine-to-five schedule.  Flexi Work comes in a number of ways including:

• Remote Work - Here is when one works from the comfort of their space without the need to go into the office. There are companies that are fully remote and others are hybrid where you can split your work time between working from home and working from the office.
• Flexible Hours - Flexible hours refer to an agreement where you do not have a fixed time to work but you have given a number of hours to work. For instance, if you have to work 40 hours a week, it is up to you to decide how to plan, but you have to cover the 40 hours a week.
• Compressed Workweek - A compressed workweek model allows an employee to work their designated hours in a week but in less than five working days. For instance, for a 40-hour work week, the employee can decide to work 10 hours a day and only work for four days.
• Job Sharing - Job sharing is where two employees share the responsibility and the compensation of a single role. They split the time required to execute tasks, they share off days, and they share the remuneration as well as the responsibility for the success of the role.

Embracing Flexi work can allow you to work two days a week from home. How much can that save you?

How Much Do You Typically Spend on a Workday?

What does a typical workday look like? There is dressing up for the office, travelling to work, having lunch, travelling back from work and the occasional hangout with workmates.

All these activities have some financial impact. Hypothetically speaking your transport to and from work takes 10% of your salary, your lunch at work takes 5% of your salary, your monthly clothes budget takes a similar 5% and the occasional hangouts and random shopping after work takes another 5%.

This maths shows that roughly 25% of your salary is spent on activities related to going to work. However, working two days from home can help you save significantly. 

If assuming a work week is Monday to Friday, hence five days a week, you spend 25% of your salary on work-related activities, what will it cost you to work only three days a week? It will cost you 15% and you get to save 10% of your salary.

Using the 50/30/20 rule, you usually save 20% of your salary. That means that by saving an extra 10% by working two days from home you can increase your savings to 30% which will help you reach your financial goals faster.

Read Also: Saving for Beginners: Follow the 50/30/20 Rule

Other Indirect Advantages

Apart from the direct financial savings, there are other advantages that come with working at least two days a week from home. These advantages might not have a direct financial correlation but they are the long-term foundation which will allow you the peace of mind and health you need to keep working and hence earn more.

Eating home-cooked meal

Eating a home-cooked meal gives you control of the food you eat, the ingredients used in the food and how the food is prepared. In addition, most home-cooked meals are cheaper than having the same meal at a restaurant. 

However, to have a proper home-cooked meal you have to budget, buy and store the food and ingredients. Nonetheless, a home-cooked meal is a beautiful experience in itself. For some cooking at home is even therapeutic and for others, it is an opportunity to express their creativity.

Time with family

Work does take a lot of our time and we tend to spend limited time with the ones we love. Working two days from home allows us more time to spend with our families. Even if you will be working, just being in the same space does contribute to the family bond.

Another part of work that consumes a lot of time is commuting. When working from home you cut down the commuting hours to zero. Hence when kids come from school they find you at home and you can maximise time with them. If not, you can start your rest immediately after you finish work rather than having to commute for another hour in order to get home and rest.

Increased rest

Working from home at least two days a week gives you more time to rest. Even if you are working, being in your own space allows you to relax and be comfortable. Also if you have flexible hours you also get to work at your own pace. This is relaxing and allows you to rest sufficiently.

Important to Note

Working two days at home is a great idea. However, that time should not be misunderstood as an off day or a long weekend. You want to ensure that you deliver as expected in order not to harm your work performance. 

In addition, you have to ensure that within the two days, you keep the collaboration efforts alive with your colleagues in order to ensure that your working from home does not disrupt normal work operations.

Wrapping Up

Working for two days from home is a great idea that can have a significant impact on your finances. It can also help you improve on other areas of your life and allow you more rest. With the world of work changing such an idea is not foreign anymore and if you can implement it without adversely affecting the work that you do, you can give it a shot.