6 Financial Benefits of Working from Home

Do you work from home? Are you considering it?

It can be a big financial benefit for you.

I've been working from home for several weeks now since I quit my day job. I've loved it.

More importantly, I feel like I can give some honest feedback about how you can save by working from home more. Here are a few ways I've been saving or at least had the opportunity to save:

1. Lower Car Insurance

That's right. One of the first things I did once I no longer had a commute was to call my car insurance company and tell them my commute had changed.

With fewer estimated annual miles on your car, they'll likely lower your premium. This didn't save a great deal for me. My commute wasn't bad before. But it's a small savings I'll gladly take towards more affordable auto insurance.

2. Less Fuel Expense and Less Wear and Tear

My fuel expense has dropped dramatically over the past month. And I know that at the end of the year I'll simply have fewer miles of annual use on my car. Since my car is paid off it feels like I could keep it forever now with minimal upkeep (2017 update: still have the car).

3. Opportunity to Move to One Car

Because I'm working from home and Mrs. PT is at home as well, we could actually consider becoming a one car family at some point. It would require some sacrifice and planning, but it could be done. Even in “spread-out” Texas.

4. Less Lunch Dining Out Expense

This is where I've noticed the biggest difference. I don't dine out for lunch anymore. Not necessarily because I don't want to. I'm just lazy. Going to the kitchen is easier than heading out to eat.

At my old job, I didn't have my kitchen down the hall. I would have to prepare in advance and bring a meal from home. I was too lazy for that too. So I ended up dining out for lunch a lot.

Now, it's just not that big of a weekly expense. I maybe do one lunch a week outside the house. I usually couple that with the days I find some free office space at a local restaurant.

5. Fewer Clothing Related Expenses

Since there's no formal dress code at home, I haven't had to purchase any new clothes or spend money on dry cleaning. That's nice. I always dreaded spending money on clothes.

6. Tax Deductions

Finally, come tax time next year, I'll be able to deduct my home office expenses because it's where I work. There are plenty of other tax deductions for freelancers I'll be able to take advantage of as well.

Of course, these are just the financial benefits. There are some new expenses I have to take on: individual health insurance being the major one. But there are also some non-financial benefits to working at home as well. Although, those can't be measured in dollars really.

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Last Edited: July 24, 2017 @ 2:01 pm The content of ptmoney.com is for general information purposes only and does not constitute professional advice. Visitors to ptmoney.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.
About Philip Taylor

Philip Taylor, aka "PT", is a CPA, financial writer, podcaster, FinCon Founder, husband, and father of three. He created PT Money back in 2007 to share his thoughts on money and to meet others passionate about managing their finances. All the content on this blog is original, and created or edited by PT. Read more about Philip Taylor, and be sure to connect with him on Twitter, Facebook, or Google+. Listen to the new podcast, Masters of Money!


  1. Thanks for the update.

    Since you are working at home, has your pyjama budget increased at all? 😉