We should know that working actually causes us to lose money. We need to spend money so we could go to work. There are many components that are included in our financial portfolio. As an example, we need to be able to pay off our mortgage at specific period of time. Many people find that once they are able to pay off their mortgage, they could find freedom in their lives. Good financial decisions could provide us with many benefits. As an example, we will be able to spend quality time with our friends and family members. By being mortgage free, we could be able to better enjoy our lives and spend on a few little things that can make us happy.
However, before we are able to pay off our mortgage, we need to work and working requires us to spend some amount of money. The commuting costs can be quite huge in a long period of time. We may need to deal with the tedious pursuit of daily commuting. On average, people may travel more than 8 miles each day to reach their office or workplace. This will require a significant amount of money, such as for car maintenance and fuel. Other than fuel and the usual wear and tear, it is also important other costs such as parking and car insurance. We could spend up to $150 per month for commuting.
Work clothing is another cost factor of working and there’s no way we could go to the workplace with our pyjama. We may need to replace our briefcase, shoes and other things every six months. In total, we could spend about $50 per month for these things. Meals are also things that we need to spend and not many people are able to continue to work well with light lunch. In many business areas, food costs can be quite high. Many workers may bring some food from home alternately to help them save some money. They could simply go to their car and eat their lunch there to avoid temptation for eating more than usual.
We also need to deal with the recreational costs. Working can be physically and mentally exhausting. This should be considered a rewarding experience and many workers need to treat themselves by doing various escaping activities, such as bowling, cinema trips, meals out and others. This could equal to $100 per month and probably more if we have a large family. By having a good balance between work, recreation and physical exercise; we should be able to maintain our overall health. If we can keep ourselves healthy; it would be possible for us to prevent excessive amounts of financial losses. Medicine and medical treatments can be quite expensive.
Although working is often considered as a way to earn money, it is also a major expense. By being able to work efficiently, we should be able to earn more and we will be able to retain much of our income. We would be able to save money and pay off our debts. Just skip that cup of coffee and we could save lots of money.