How to Save Money at Work?

Answer 1

We go to work in order to make money, not spend it, but sometimes it seems the other way around. It is too easy to get caught up in a spending frenzy, when you are always in a hurry or on the run. So, let's take a break and think about some common work-related spending habits.

Commute:

Of course, everyone loves the solitude and convenience of driving their own car to work, but is it really worth upwards of hundreds to thousands of dollars a month in gasoline, car expenses, tolls, and parking fees? It can really add up, and most people tend to only see these expenses as a daily annoyance: seen over the course of a year, they can make the difference between being in debt and having money saved. Try looking into alternate commute options such as transit or carpooling. Monthly transit passes are easy to use and many employers offer free or subsidized transit passes to their employees as a way to reduce employee stress and the impact of so many cars on the environment. You may also find that you enjoy the extra time you are not behind the wheel reading a book, or catching up with a friend.

Meals Out:

Many people work in offices or at jobs where everyone goes out to eat for lunch on a daily basis. Especially if you go to a restaurant that expects a tip, you are probably paying at least $10-20 or more a day. That can add up to hundreds of dollars a month. Going out to lunch is much more enjoyable when it is a special occasion. If you limit going out to lunch on birthdays or just Fridays, you will save hundreds of dollars a month.

Also, making your own coffee at home rather than stopping by your favorite coffee shop everyday will also help to pad your savings account. Bring your own lunch, or stock up on groceries for the week to keep in your desk or office refrigerator. Sandwiches, soups, and salads tend to be much healthier than restaurant meals, too.

Fund-raising:

Although some places of business prohibit their employees from soliciting each other for money for their child's scout troop or school, it is a common practice in most offices. This is especially true around the holidays, when workers' wallets are already feeling lighter than usual. If you find yourself bombarded at work to help out with this or that cause, it is important to remember that it is okay to say no, or that you have already donated to another organization. You can limit your support to one or two work friends, and keep your checkbook out of sight after that.

The workplace is definitely a place where many of us spend a large portion of our day. While you want to feel comfortable and treat yourself now and then, it is important to remember that you don't want to spend your paycheck before you receive it! Making a few small changes to your daily routine will make a big difference in your checking account. If you get your coworkers on board too, you won't feel tempted to join them in going out for lunch or coffee.