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Amazon has left a package on everyone’s doorstep. Its CEO Andy Jassy is directing corporate employees to spend In the office five days a week Starting January 2. And, this is not a request.
This decision marks a significant change Amazon’s earlier stance on returning to workUnder which corporate employees were required to remain in office at least three days a week.
Goldman Sachs and JPMorgan are two other large companies that require five days a week in the office. In 2023 alone, 66% of employees say they are in the office five days a week and you can expect more employers across the country to do the same.
(Amazon is sending a clear signal that the five-day-a-week office policy may soon be back in full force for all employers.)
The bad news is that returning to the office after the pandemic will be extremely expensive and you need to plan these things for your family budget.
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50% of people have not repaid their student loans, Credit card debt north of $1.1 trillionAnd with inflation taking a toll on the budgets of families across the U.S., what increased costs can you expect when your employer returns you to work full-time?
Employees spend an average of $51 per day when they go to the office, including:
- $16 at lunch
- $14 on commute
- $13 on breakfast and coffee
- $8 on parking
- Employees with pets also spend an additional $20 per day on pet care.
This does not include the exorbitant costs of child care. In total, it would be a $612 per month increase for the average family to get back into that orbit because bosses say it’s better for the company culture.
prices have increased significantly Over the past four years under President Biden and Vice President Kamala Harris, and if you can no longer work from home, here are some of the additional costs you may face and ways to offset them.
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Commuting Expenses:
Fuel or public transport: daily commute to and from work The cost of gas, parking, bus or train fare will increase. Be sure to check your company’s benefits manual to see what deals or reimbursed expenses they have for employees.
car maintenance: Excessive driving causes wear and tear, which increases maintenance costs like oil changes, tires and repairs. This is the perfect time to get your car thoroughly checked to ensure you don’t face unexpected auto expenses.
Meal:
lunch: You may need to buy lunch often, so it’s best to plan meals at home as eating out rarely costs less than $10 to $15 a pop.
Breakfast/Coffee: Skip the Starbucks Line And use it for free as much as you can with coffee and snacks at work.
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Work Dress:
Clothing: Depending on the dress code, you may need to invest in new business or professional attire, including shoes. This is a good time to check your company’s policy.
Dry Cleaning/Laundry: Professional clothing may require special cleaning, adding additional costs. For the past several years, many people have not had to use a dry cleaner.
Child Care:
Daycare or child care: If you have small children, you may have to pay full-time child careAfter-school programs or babysitters.
Office Supplies and Equipment:
If your home office setup has been more convenient, you may miss the comfort or setup at home, leading you to purchase additional supplies for your work environment.
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Time Cost:
For a long time: Traveling takes up time of your day, reducing your availability for personal activities, self-care or family time. This is important if you have to take your kids to day care or even there are times when you unexpectedly have to grab a meal on the way home because there isn’t time to make dinner.
Health and Wellness:
Gym membership or fitness program: If you used to work at home, you may have to do the same when you return to the office Rejoin the gym or fitness classIt’s possible that your employer will have an on-campus gym or a discounted gym membership for you.
Unexpected Costs:
Gadgets and Subscriptions: You may need additional items like a portable charger or subscriptions to music or audio books for travel entertainment.
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While some employers may Still allowed to work from home And with some offering a hybrid schedule (three days at home, two days at the office), Amazon is sending a clear signal that the five-day-in-the-office policy may return fully to all employers very soon.
If your employer makes such a move, now is a good time to start preparing financially and thinking about how it will impact your family’s finances and your overall financial planning.
