(WTNH)– If you are like millions of Americans, your home has served as your work space for months after Covid-19 pushed many out of the office.
The commute is shorter, but there are some undercover costs to working from home that may come as a surprise.
Local Financial Expert Roger Cowen, from Cowen Tax Advisory Group, explains what steps at-home workers can take right now to set themselves up for financial success in the future.
Cowen says there are some secrets costs:
- While people aren’t spending money on things like commuting or dry cleaning, working from home costs employees about $100 more per month than working from the office.
- Employees are spending more on utilities and food since they are home for longer periods of time. On top of that, setting up an office at home can cost a pretty penny, especially when it comes to outfitting it with a desk, printer and office supplies.
- Many companies aren’t required to reimburse employees. The laws on this vary from state to state.
You can get started budgeting by determining your income, track expenses, and don’t forget about saving. You can find a budget worksheet at cowentaxgroup.com.