Virginians saving $229.8 million a month working from home, data show

Courtesy of Ketut Subiyanto

Convenience isn’t the only benefit of working from home. It’s also a smart money move for many. Americans are saving over $11 billion per month working remotely, new research from CouponBirds show.

California is seeing the biggest bundle of savings with over $1.5 billion dollars saved each month. But Virginia’s $229.8 million a month in savings is nothing to snark at. On average, that’s around $210 each in savings, which is lower than the national average of $281.61, but notable.

With those work from home savings, 35% of those surveyed revealed they are able to buy things they normally wouldn’t be able to afford, CouponBirds found.

It’s likely that until the pandemic, many people didn’t realize how much they spend related to work. A sizable proportion of our paychecks was spent on expenses that could have been avoidable - grabbing a meal from the local lunch spot, after work drinks and fuel spent on the commute, said a CouponBirds media brief.

However, everyone wasn’t set up to bring their office into their home, and many of people working remotely have had to make purchases. On average, employees spent $181 on home office items. A lot of people have clearly spent a lot more since CouponBirds data show that 35% have purchased a new laptop.

“It’s clear that many didn’t realize how much equipment or supplies they’d need in their new home office,’ Tricia Smith of CouponBirds stated in the media release.

Another challenge many remote workers have faced is issues with internet service. Over a quarter of those surveyed admitted slow home internet speeds have affected their day-to-day job performance, CouponBird reported.

Still, most people working from home, two-thirds according to the data, prefer this model compared to working in an office.

“Weighing up the pros and cons, it’s also evident that many prefer the dynamic of working from home, as compared to the office, said Smith. By pocketing a solid amount in savings each month, working from home also grants employees the financial freedom to purchase things they might have not been able to afford if they continued having to work from an office.

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