Lockdown and government stay-at-home orders have seen many companies in the UK shift their employees into remote work. And while working from home (WFH) has its benefits, not the least of which is not having to fight your way through a crowded tube station every morning, there’s one big downside. If you’re not careful, costs such as heating can easily spiral out of control. So, to help you cut down on your WFH costs, we explore some top tips worth considering.
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WFH: what’s the effect on household costs?
According to price comparison site Quotezone, a combination of recurring lockdowns, particularly during winter, and the new normal of working from home has led to a spike in household bills across the country.
The data reveals a 17% spike in domestic energy consumption over the last year, with the average annual energy bill rising from £688 in 2019 to £802 in 2020.
Although the pandemic is nearing its end, the rise in energy costs is expected to continue. That’s because working from home may become a permanent arrangement for many. In fact, research suggests that one in four Brits hope not to return to the office.
On top of that, energy regulator, Ofgem, has already announced that due to an increase in wholesale energy prices, the price cap will return to its pre-pandemic levels.
Many of us are now wondering how we can cut down on WFH costs so that we’re not left out of pocket at the end of every month.
How can you cut your WFH costs?
Here are four top tips from Quotezone’s CEO, Greg Wilson, to help you reduce your working from home costs.
1. Switch providers
You can save up to £360 by switching providers. By doing so you might be able to access better rates as well as suppliers with better customer service or who are, for example, more environmentally conscious.
To increase your odds of getting the best possible deal, take your time to shop around and compare prices using a price comparison site such as Quotezone.
2. Thermostat control
The average household can save as much as £60 every year by turning the thermostat down by just one degree. That’s according to the Energy Saving Trust.
In the long term, you can prevent energy wastage by installing heating controls in your home. Some thermostats can even be controlled using your phone. That means that you can stay on top of your energy use whenever and wherever you need to.
3. Making your home more efficient
A few simple modifications and changes around your home, such as using energy-efficient bulbs, can help you cut down on your WFH costs over the long term.
4. Claim tax relief
Are you aware that you can claim tax relief on coronavirus WFH costs such as gas, electricity, water and even business phone calls?
Claiming tax relief can go a long way toward lowering your overall WFH costs and can put some much-needed extra cash in your pocket.
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While some of us thrive in a WFH environment, others find it completely unappealing. Whichever group you belong to, one thing is certain: working from home can be expensive if you’re not careful.
In a time when every penny counts, it is more important than ever to make sure you’re staying on top of your household bills and spending.
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