With all the ways you consider saving money, how to save money by working a four-day work week may not be one of them. Reducing the standard work week from five days to four is beneficial for employers. Overall employers spend less on building maintenance and employee benefits on a four-day work week. But, the idea of a four day work week is catching on and employees can benefit too.
How to Save Money by Working a Four Day Work Week
Working a four day work week can save you money. You may not realize it, but you spend money to make money. Your commute, personal expenses, and those little extras you buy throughout the day can add up. Cutting down on these costs will save you in both the short and long term.
Save Money on Your Commute
Workers spend thousands of dollars a year on their commute, especially if they drive their own vehicle to work. Those vehicles add up to expensive gas, maintenance, and insurance costs.
Save on Gas
With the price of gas on the rise, a worker would benefit from a four-day work week. With one less day of commuting, that worker would cut out two trips from their gas expenses. If you travel more then ten miles to get to your job, this can mean big savings over the course of a year.
Save Money on Car Maintenance
Your car needs service every 3,000 to 6,000 miles. A vehicle needs regular oil and fluid changes, brake work, and tune-ups. If you are driving less miles to work because you are working fewer days a week, then you are extending the time between visits to a mechanic. Even if you only save the difference of one oil change a year, that could mean a savings of $50 to $100 depending on the type of car you own.
Save Money on Auto Insurance
Several auto insurance companies partially base your auto insurance rate on how many miles you drive in a year. If you live more then a few minutes from your job, cutting out one day of commuting a week can significantly decrease your mileage over the course of a year. That could equate to a cheaper monthly auto insurance premium.
Save Money on Personal Expenses by Working a Four Day Work Week
Personal expenses such as lunch and childcare can add up over the course of the year. By cutting out one workday a week, you can significantly reduce those costs.
Save Money on Child Care
If you have children in daycare, the answer to how to save money by working a four-day work week may seem simple. If you are able to telecommute one day a week, it may be possible to keep your children at home with you on that day. Eliminating one day of childcare costs a week could save you thousands over the course of a year.
Save Money on Work Attire
If you work in an office that requires professional attire, you can save money by cutting out one workday a week. With fewer days to come to the office, you won't have to spend as much throughout the year buying business attire clothing. You can also save on dry cleaning costs dresses and suits. The less you wear them, the less they will need cleaning.
Save Money on Excess Expenses
You may not realize it, but those little charges for coffee on the way to work or lunch with coworkers can add up over time. While you will still spend some money on coffee, snacks, and meals at home, items bought in bulk from a grocery store are cheaper then items bought on the run at a gas station.
How Switching to a Four Day Work Week Benefits You
Going from the standard five-day work week to a four-day one will save you money. You can reduce commute costs, keep your car in shape for less, and spend less on excess expenses. Choosing to telecommute one day a week may also help your well-being. Most workers who made the switch found that they were more satisfied with their jobs overall.