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Updated March 23, 2023You’re reading an excerpt of The Holloway Guide to Remote Work, a book by Katie Wilde, Juan Pablo Buriticá, and over 50 other contributors. It is the most comprehensive resource on building, managing, and adapting to working with distributed teams. Purchase the book to support the author and the ad-free Holloway reading experience. You get instant digital access, 800 links and references, a library of tools for remote-friendly work, commentary and future updates, and a high-quality PDF download.
The benefits to remote employees when it comes to saving time and money are almost indisputable. The top ones include:
Commuting. Aside from the environmental benefits, no longer jumping in a car (or on a train or bus) can save remote workers thousands of dollars per year.*
Cost of living. Remote workers aren’t tied to major cities and urban centers, where costs of housing and other related factors continue to increase. They can move to better-priced locales with lower costs of living.
Office attire. Yes, it’s a funny meme that remote workers never change out of their pajamas. But in reality, not having to keep up with traditional office clothing norms can reduce your annual wardrobe and dry-cleaning spending each year.
Not eating out. Remote workers aren’t necessarily more frugal, but it is certainly easier to save money on food and coffee when you have a kitchen in your workplace.
Child care (maybe). This is not a given source of monetary savings; just because you work from home doesn’t mean you can simultaneously care for children, especially the younger they are. But working remotely may mean you’re closer to family or a preferred childcare location, and having a more flexible schedule can help with the kinds of things parents might otherwise not be able to do, like making sure the kids are picked up from lessons or dropped off at friends’ houses.
Over eight in ten remote employees work from home, with most of the rest working from a coworking space or a coffee shop. This location independence was the most important benefit to around 30% of remote workers. It’s easy to understand why—people tend to be more comfortable in their homes; remote workers are less likely to be interrupted by colleagues when they don’t want to be; and 90% feel that they’re more productive.*
Control over your work environment means you can change locations to best suit your work style preferences or the kind of work you’re doing. If you prefer quiet times to focus on work, then a home office is your best option. If you thrive on the buzz of people around you, then communal work spaces or coffee shops may be a better choice. Not being tied to an office means you can choose which suits you best and at which times.