Working is a necessity for the majority of us. Nowadays, dual income is the norm, even for families with children. Being a stay-at-home parent is somewhat considered as a luxury.
Many people, however, don’t consider the costs of working, as yes, working actually costs money. I have certainly felt these costs more keenly post-pandemic.
Until I worked remotely over a period of over 2 years, I didn’t realize the full extent of the below costs.
Commuting
Cars are not cheap, even if you own them outright. The extra gas, wear & tear, insurance, mileage, parking and tolls really add-up. Public transportation is your best bet to save some money, but it may not be a possibility.
This is one of the costs I’m feeling the most. During the pandemic, I only spent $30.00 per month on gas, and my insurance costs were minimal as well, since the car was parked most of the time. Now that I have returned to in-person work, I spend about $150.00 per month on gas alone, and my insurance has increased.
Daycare
If you have young children, this one can really be a dozy. In Vancouver, monthly costs for a licensed daycare can be well over $ 1 000.00. Depending on your income, you may qualify for the Canada Child Benefit. Depending on your province of residence, you may qualify for daycare subsidy. You may also be put on waiting lists.
If your children are of school age, you may not be able to pick them-up at 3.00 pm or 3.30 pm. You will also need to account for school breaks and other school closures, not recognized by your employer.
Lunches
Even if you are disciplined and a proponent of bringing your lunch to work, there will be occasions when it won’t be the case. And what about a latte here and there?
Work Wardrobe
You may not be able to wear your jeans or casual clothing to work. You will need to account for the extra spending.
Even if you’re able to wear jeans to work, you’ll still need to buy new clothes and shoes from time to time. Not to mention underwear and socks.
Work Socializing
There will always be the occasional birthday, baby or wedding shower, Christmas party and other after-work activities. Pitching in for gifts and drinks also adds up.
Pet Care
if you have a dog, you probably won’t be able to take it to work with you. Dog walkers or doggie daycare are not cheap. A dog walker will easily charge $ 25.00 for an-hour walk.
Final Word
The above costs are actual dollar costs. However, the biggest cost of having a job, in my opinion, is free time. We’re always trading time for money, and conversely.
That’s why we need to ensure we’re adequately compensated to cover the above costs.
The Money Savvy Blog 