A leading financial expert has revealed how working from home can save you over $ 2,000 over the next three months.
Experts have predicted that Australia will be in some sort of lockdown for 90 days, meaning your current home office setup could be one that lasts several months.
Canna Campbell, from Sydney, said working from a home office is a draw in many ways, from a financial point of view, if you’re still in salaried employment, it’s very good news for your bank balance.
“Think about how all the little anecdotal expenses add up when we’re on the road and commuting and working from a city office,” Canna told FEMAIL.
She also shared how to stay financially safe if you’ve just lost your job by trying seven simple things.
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Canna Campbell, from Sydney, said working from a home office is a draw in many ways, from a financial perspective, if you’re still employed, it’s great news for your bank balance
Canna said that just eating food out of your fridge and shopping carefully with several lunches in mind for the week can save you at least $ 10 a day by not buying lunch in town
LUNCH FINANCIAL GEL = $ 660 IN THREE MONTHS
For those looking to collect some extra cash while working from home for the next three months, Canna said it’s important to be organized.
“Obviously, a lot of us will spend a lot more on groceries and hang out in the fridge while we work from home,” Canna said.
But if you take a moment to think about it, if you work in the city, it’s not uncommon to spend more than $ 20 for a drink or coffee and a salad or sandwich – that’s no consideration with the morning muffin so many of us buy! ‘
Canna said that just eating food out of your fridge and shopping carefully with several lunches in mind can save you at least $ 10 a day, which equates to $ 220 a month if you work 22 days.
Cooking and eating at home for three months is a pretty neat amount of $ 660.
CAFFEINE MONEY = $ 264 IN THREE MONTHS
If you’re a coffee drinker, chances are you’ve been caught buying a $ 4 coffee at least a few days a week.
But whether you have a machine at home or a new instant caffeine fan, drinking from the comfort of your own kitchen can save you $ 88 a month or $ 264 in three months.
“A four dollar a day coffee bought in town may sound small, but those little things really add up,” Canna explained.
Try it for a week and move all the money you would have spent on coffee to another savings account.
Add your lunch money to this and you will be amazed at how quickly the pot runs out.
You can also save valuable money by making your own coffee at home and not traveling in and out of town (Canna shown)
PUBLIC TRANSPORT PAYMENT = $ 330 IN THREE MONTHS
Many people waste hours commuting to and from work every week, and this not only costs them a fortune in time, but also money.
Canna estimates that most employees’ average travel costs them $ 5 to and from work.
Saving that money for a month would save you $ 110, while three months would save you $ 330.
GYM MEMBERSHIP MONEY = $ 240 IN THREE MONTHS
Many of us are forced to train at home to satisfy our inner gymnastics bunny, many of the major gyms like Virgin have offered to put membership on hold while closed during the corona virus crisis.
“A typical gym membership might cost you $ 80 a month, which is cash in the bank that you can use at a later stage,” Canna said.
“Multiply this by three over the next three months and you have $ 240 for your coronavirus savings account.”
SOCIALIZING STOCK = $ 600 THREE MONTHS
Depending on how active you are with a social butterfly, you could spend three numbers on weekend activities.
But Canna said most of us will spend at least $ 50 on a mix of things like socializing, Netflix, a bottle of wine, or Uber Eats.
“If you save that $ 50 every weekend and put it in your bank account and treat yourself to a delicious homemade meal like a macaroni cheese instead, you’ll have $ 200 in a month and $ 600 in three months,” she said.
SHOPPING SAVER = $ 300 THREE MONTHS
Again, this depends on how much shopaholic you are – but with the majority of stores not open and only trading their online outlets, you should be able to save a little money that you would normally spend in stores.
“Suppose you spend $ 100 a month on clothes, accessories, or household items, you’d make $ 300 in three months,” Canna said.
TOTAL OF ALL SAVINGS = $ 2,394
WHAT IF YOU HAVE LOST YOUR JOB?
But what about if you lost your job and need to take care of your finances?
Speak in one video, Canna said the first thing to do when you’re out of work is a budget and a financial inventory.
“Sit down and write down all your living costs and how often they are and how much they add up,” she said.
Canna (photo) said you can also save valuable money by not socializing as much and also avoiding the shops, many of which are now closed
What should you do if you have just lost your job?
1. Sit down and write down all your living expenses and how often they are and how much they add up. Then make a financial inventory of how many assets you have and what you owe.
2. Update your CV and bring it out to try to get new work.
3. Quickly collect some money by selling, mixing up or exchanging items and removing something old.
Find out how you can make money online through proofreading, accounting or even tutoring.
5. Ask for help. Call your landlord if you can’t pay your rent and tell your bank if you can’t pay your mortgage.
6. Go through all the purchases you made before the crisis and try to get refunds if possible. Summon any debts from friends and family members.
7. Rethink, reset and bloom again. Something like this crisis often gives you a good opportunity to think and look at the path of your life.
Once you’ve done that, start reaming and limit yourself to the essentials.
In a financial inventory, sit down and find out how many assets you have, how much you have saved, and what your financial responsibilities are and how much they are.
“If you have a mortgage, make sure to check if there are any online savings accounts that you roamed in cyberspace, and put all that money into your compensation account or your rescheduling facility against your home loan,” Canna said.
You should also update your resume immediately and distribute it as early as possible to beat other people.
“Third, look at how to get some cash quickly in the meantime,” Canna said.
Whether through sales, crowds, or trade, try to get rid of all the old that you have that has any value and mention it on the groups as soon as possible to beat everyone else.
You can even rent out your car, garage, guest room or handbags.
Canna’s fourth tip is that you try to bring in some money by quarantining from home.
You can do all sorts of things by sitting on your couch, such as accounting, proofreading, translations and tutoring.
Step five is to raise your hand and ask for help as early as possible.
“If you’re afraid you won’t be able to pay your rent, call your landlord and tell them you need more time or need a discount,” Canna said.
The same goes for your mortgage – you need to call your bank.
“Finally, continue with all the purchases you made before this happened, where you may be able to cancel an order, refund something, exchange something, or get a credit note,” Canna said.
Canna (photo) revealed that if you’ve just lost your job, you absolutely need to update your resume immediately and see what work you can pick up online
Summon all the debts you need on friends and family to keep you going longer financially.
“Think, reset and bloom again,” Canna added.
“Very often when we are going through these incredibly challenging times, it provides a wonderful opportunity to stop and look in the direction we live our lives.”
Think carefully, long and hard about your values and whether you want to live where you are.
You might decide that you want to learn more, move abroad, or return to college.
For more information about Canna Campbell, visit her website here.