Work From Home Savings Calculator

A Work From Home (WFH) Savings Calculator estimates the amount of money you can save by working from home instead of commuting to an office. It quantifies the savings from avoided expenses like transport, coffee, lunches, and work attire, showing the significant financial benefit a hybrid or remote work arrangement can provide.

The calculator identifies all the daily costs associated with going to the office (e.g., fuel/public transport, tolls, parking, bought lunches, coffee). It multiplies these daily costs by the number of days per week you work from home to find a weekly saving. This is then scaled up to an annual figure, providing a clear picture of the total financial impact of your remote work days.

• The savings are often much larger than people realise. Small daily expenses like a $5 coffee and a $15 lunch add up to thousands of dollars over a year. This calculator makes those hidden costs visible.
• While you save on office-related costs, working from home can increase some household expenses, such as electricity, heating/cooling, and internet usage. These can be claimed as deductions on your tax return, so it's important to keep records.
• The time saved from not commuting is a massive non-financial benefit. This regained time can be used for exercise, family, or hobbies, leading to improved well-being and work-life balance.

• Use the calculated savings as a data point when negotiating flexible work arrangements with your employer. It demonstrates a tangible benefit to you that can be part of the overall compensation discussion.
• Redirect your WFH savings into a specific financial goal. For example, automatically transfer the money you would have spent on commuting into a savings account or your superannuation fund.
• Keep track of your home office running expenses. The ATO has specific methods for calculating deductions for these costs, such as a fixed rate per hour, which can provide a valuable tax benefit at the end of the financial year.