There are many benefits to working from home. Due to recent events, you may find that you enjoy working from home. However, working from home isn’t a good fit for everyone. Listed below are a few pros and cons to assist with your decision-making process.
At work you have an office in which to conduct business. When you need to avoid noise and other distractions, you simply close the door. You also have all the essential pieces of equipment such as a computer, a printer, a shredder, a desk and a comfortable chair. Having the proper set up will help you improve efficiency. If you don’t currently have a separate room, but you do have space in your home that you can convert, mortgage refinancing will give you access to the money necessary to make the changes.
Saves You Money
Working from home eliminates the need for commuting to work, cutting down on your gas consumption. It also eliminates the need to spend money on coffee, snacks and lunch, which can cost hundreds over the course of a month. Additionally, you won’t have a specific attire, ending the need for buying new clothes and accessories often.
Working from home gives you freedom. It allows you to create your own work schedule. This is especially beneficial if you have kids to take to school or you are not really a morning person. However, you still have to work a set number of hours each day to make enough money to experience the same equality of life. If you are an independent thinker and a person who leads versus follows, you should be able to complete projects in a timely fashion.
If you have children or pets or both, life can become pretty hectic at certain times during the day. This can cause you to leave the office frequently to tend to home matters. Unfortunately, this can make it difficult for you to hold things like a video conference. It’s wise to have a talk with your family prior to making the change to working from home. Let them know that when you close the door you are at work and they will need to contact your spouse or older siblings.
One of the biggest advantages of working from home is the ability to visit with family and friends and take vacations on your timeline. When you work for someone you often have weeks blocked out or those who have more seniority above you. Of course, you will have to save money for your vacations because you won’t have any paid days off.
Appointments that you needed to make at night or over the weekend you can now schedule anytime. This lets you keep your evenings and weekends reserved for you and your family. You can also avoid the after-work crowd at the grocery store and run other errands at your convenience.
Medical and Retirement Benefits
When you work from home there’s no medical or retirement benefits. This means that you will have to find and pay for medical insurance on your own. You’ll also need to set up a retirement fund such as a 401k or a Roth IRA. If your spouse does have health insurance you can always add you to the policy for an additional fee.
At the office you have other employees around to converse with. When you work at home, you are alone. Over time, this can affect your mental health. One way to avoid this is to play music and take breaks where you leave the home and take a walk outdoors.
There are pros and cons to working from home. Consider each one carefully before making your final decision.
Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.