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Home Personal Finance

Should You Think About Looking for Remote Work?

Calculate how many hours you save by becoming remote!

Todd Weitzman by Todd Weitzman
September 17, 2019
in Personal Finance
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As internet speeds strengthen and jobs being forced online, why is it that we have to wait in our cubicle to be told our work can be done at home? Control on the side of the employer seems to be a significant factor when it comes to allowing remote work. They don’t know if you are doing the job or not, and efficiently. Want to alleviate their concern and get valuable time back?

Being a parent is hard when it comes to balancing life, work, health, money, but when you can work from home, you can earn those valuable commuting hours back. In many cases, let’s say you work 30 minutes with traffic from your work cubicle, and then another 30 minutes to get home. That’s 1 Hour back in your life per day for five days. You get my drift here. Devote those hours to fitness, side hustles, or even meditation.

Calculate the difference How much time per week do you get back?!
5
0
Required Lunch Time
5
Hours Saved by Becoming Remote (week) 

So…why aren’t there more remote jobs?

It’s almost 2020 and with Wi-Fi, 5G Super Fast Internet, etc…why are we still driving an average of 10 hours a work week on the interstate? For corporate managers, it’s the idea that having no real knowledge or proof of works completed that make it be too much of a hassle.

Most of the common rat-race employees are desperate to gain more perks due to declining pay, work at home or remote work seems like the logical next step for our economy. Depending on your position at work, if you only need a PC to work with, you are likely thinking of remote work!

For managers, if you are not willing to give Remote Work in today’s work environment, you are only buying time with your employees. It’s a real benefit and an even more realistic possibility due to the way the web works.

The Golden Truth is: An employee can indeed work at home, and do the same tasks following 99% of the job description.

Remote Work Stat
Eye-Opening Stat

And now, if the employee knows that, and you are not offering some remote option,they will probably start looking for it. The Millennial generation is tired of seeing House Hunters with large budgets but no defined path on how they could buy a million dollar home. (Why are job titles on HGTV’s House Hunters so vague)

And why single out Millennials for wanting a perk like “work at home.” It’s not about laziness; it’s about efficiency in one’s work/life balance.

The Internet is Perplexed, but we’re not

Traditionally speaking, let’s say there’s Bob who is a corporate worker in the early 90s:

  • 7 AM Wakeup
  • 8 AM Start Commute
  • 9 AM In the Office

That’stwohours of potential time to be spent bettering one’s health, getting children ready for school and other life events. A traditional 9-5 doesn’t pay you for those two hours either, in fact, you pay them exponentially with time and money spent (gas, tolls, etc.)

How to Convince Your Boss to Work Remotely

When you start thinking from an employer’s perspective, you can let them know that your office space is like real estate, and if you don’t need the real estate, it’s less of an expense for them. This, of course, depends on the size of your office, if it’s something doable. If you work in a larger space, this would be tough to convince your boss about.

You Can Become a Contractor

One major hack is that if you switch yourself to a contractor, your employer will dramatically decrease their cost to employ you. This means they’ll be less out of their pockets, which is a fantastic selling point.

The con here is that you will pay the taxes. You can negotiate yourself for higher pay, but again take things one step at a time. Remember that independent contractor taxes take up a significant amount of your take-home revenue, use several resources to learn more about becoming independent!

The Issue of Contractor Taxes

As mentioned before, taxes are a big selling point when negotiating a fully remote position or contracting job. Contractors are required to pay taxes four times a year, known as Estimated Quarterly Taxes. Keep a savings account for estimated taxes, which is about a quarter (1/4th) of what you make. So if you charge $4000 a month, save $1000 from each paycheck and then pay $3000 for estimated taxes.

Super Money Hack Alert!!

There are many ways to pay taxes, but few realize that by paying with a Credit Card you’ll not only supercharge those reward points but possibly earn bonuses super fast! With Plastiq, you’ll be able to pay TAXES with a credit card, along with rent and such. It does charge an extra 2.5% for doing so, but use code 632873 for a chance to reduce the charges. Time to get to start those jobs by yourself and earn super fast rewards!

Maybe You Should Look for Full-time Remote Work Elsewhere

If there’s not a single soul in your office working remotely, you probably won’t be able to get a remote job there anytime soon. Asking your manager will be an exceedingly tough task, and could end up costing you your position since you know, you are admitting you prefer to work elsewhere, even if it is relevant work. Look for a remote job on these sites:

  • Jobspresso.co
  • Remote.co
  • FlexJobs
  • WeWorkRemotely

Work Part Time on Multiple Jobs

You could always freelance, side hustle, or just spend your time elsewhere to make up your total salary from work. There areseveral unique ways to earn money online. Perhaps convince your employer to work part-time from home, and another part-time effort using the same skillset elsewhere!

Remote work is a benefit that is growing in popularity. Because millennials are staying away from higher mortgage loans, they realize that money is coming in won’t be the same as generations ago, but perhaps they will win more time back with their family. Remote options are a newer thing, and because the internet has made this possible there are no written laws yet, but we can expect there will be! Don’t be afraid to ask yourself:Am I ready to become a remote worker?

Top Remote Jobs (That Aren’t Tech-Related)

  1. Manager, Global Client Onboarding
  2. Underwriting Assistant
  3. Head of Content
  4. Executive Assistant
  5. Virtual Scribe
  6. Project Manager
  7. Writing Center Tutor
  8. Marketing Assistant
  9. Medical Coder
  10. Accounts Receivable Supervisor
  11. Customer Support
  12. SEO Content Writer
  13. Program Consultant
  14. English Transcript Editor
  15. Teacher Success Advocate
  16. Copy Editor
  17. International Travel Consultant

Tech Tips for Landing a Non-Tech Remote Job

The jobs on this list show that you don’t have to work in tech to work remotely. However, to land a remote position, it helps to be tech-savvy and comfortable with the types of technology typically used in remote work environments.

Remote.co surveyed over 50 remote companies to find out which tools are the most widely used by remote teams. The most commonly used on a “daily” basis include:

  • Instant messaging(Slack, Skype, and Google Chat were the most popular)
  • Project management(Trello, Pivotal Tracker, and Basecamp were the most popular)
  • Team collaboration(Slack, Yammer, and HipChat were the most popular)
  • Phone calls—yup, good old-fashioned phone calls! (Skype, cell phones, and landlines were the most popular tools)

If you have experience with these, or any similar communication and collaboration tools, be sure to list them on your resume, your LinkedIn profile, and in your job interview answers. Showcase your understanding of remote team collaboration and communication norms, and you’ll stand out to hiring managers.

Top 10 Jobs that are Remote Infographic
Source: Remote.co

Remote Work Doesn’t Mean Working From Home

We’ve all been there. You don’t like a coworker, or maybe you feel like the cubicle space is too wide open, and you feel like there is no privacy to look on Facebook occasionally. We’re here to tell you that these days will soon come to an end. Plus, for those working from home and have families, you’ll notice that you can be easily distracted. There’s a solution in Co-Working Spaces!

What is CoWorking?

Remote work is growing in size because of cost-cutting rent and other related expenses. One alternative career options that many employers are looking at is CoWorking Environments (Also known as Shared Offices), more specifically at a placed called WeWork.

wework philly

CoWorking Spaces typically consist of several smaller companies working under one roof, often engaging in casual conversation about nothing related to your own business or perhaps arranging business deals together. Either way, working with other companies next to you can bring out more innovation and decrease levels of stress that a typical office environment has.

CoWorking versus Work From Home

Depending on your life’s situation, for example, if you have children, a remote position isn’t as easy career choice, nor comfortable as it sounds. You’ll have to watch your children sometimes, get work done, do the laundry, etc.

A shared or co-working office, on the other hand, offers the remote environment feel of your office without the distraction. Of course, you’d have to pay for daycare for your kids, and the laundry won’t get done automatically, but quality work is essential to retaining those remote positions. Other benefits of a shared office:

  1. Free Internet (At high speeds)
  2. Can be close to where you live (cutting commute)
  3. Tax-deductible (if a contractor)
  4. UNLIMITED COFFEE
  5. Chat with other like-minded Entrepreneurial Career Types
  6. More focus is given everyone there is working for something

When looking for a CoWorking or shared space, there are a few reputable companies that offer some advantages. Companies like Regus, provide a low monthly plan of around $50/month for access to any Regus office worldwide, and WeWork offers millennial-esque working spaces.

Local shared offices (just type in “Shared Offices Near Me” in a Google Search) and you’ll find some that offer Beer, Wine, Snacks, and other cool benefits. Most of these places do offer free coffee, so no need to bring your mug to work!

Being a Parent and Working From Home

With the rise of cellular and wireless data, jobs will undoubtedly be brought home to avoid expensive office rent and costs. With this comes new remote work, including work for Dads and Moms.

Traditionally it used to be women at home tending to childcare, but this is increasingly changing with these new technological breakthroughs.

But first…

When it comes to working from home, there are two significant classifications regardless of sex. Parents and Non-Parents. For parents, the house becomes cluttered with toys and distractions that are natural when being a parent. Coincidentally, it can be as equally as distracting when you are so alone (or without kids) in an environment you fail to focus.

Stuff Need to Work Remotely or From Home

Let’s face it. Men are different than women, and that’s no different from the at home working environment. For some, myself included I knew I needed these tools:

  • Ultra Portable Laptop: To Help Work Regardless of Location
  • Comfy Chair
  • Bluetooth Headphones
  • Artwork
  • Hobbies nearby (for brief down time)

Doing your work on time and with sound quality is a significant thing to do, but having fun whenever you can is also important.

I’m typing this at 12 AM and have the ability to hop on a game of Batman Arkham Asylum or complete my other works. Make sure you can work around your lifestyle!

Being a Husband / Parent

There’s a thin line when it comes to working from home and being a parent and husband. Most work from home people knows this. They sometimes are forced into doing household chores when you are about to Skype into an important sales call. It’s both a benefit and a dominant negative when it comes to the work you do. You should always budget your priorities and tasks to meet both your home and work life simultaneously.

Benefits of Working from Home

When most people think Working From Home and the opportunity it brings to these benefits:

  • Skipping the commute
  • More time with family
  • Save money on gas
  • Fewer office politics

There a few cons of working from home though. In a recent article from CNBC, they claimed that working from home can be a career killer. Reason being, you aren’t bonding with your fellow coworkers and attaining leadership. In essence, if your career goal is to climb the corporate ladder…working from home may not be for you, and this is hard to argue against.

At the same time, one major benefit that no one can deny is more time spent with family, and time earned. Sure, you may not climb the typical work or leadership ladder that is mentioned in that CNBC article, but people might not need leadership roles in the long run. People often strive to be in control of their business and career. Most corporations take decades to attain a role in upper management, and when there’s a bigger role, there’s more responsibility. Where’s the control in this?

Seeing your younger children grow every day is one of the biggest accomplishments of my life, not my career, and it’s something I CAN control due to available remote work. In fact, it wasn’t long ago that I’d leave the house seeing them for about 5 minutes, then coming home late at night only to see them for shortly after that.

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Todd Weitzman of MoneyHax

Hello and welcome to MoneyHax.com! I'm your fellow MoneyHax founder Todd and I am obsessed with finding the latest and greatest money hacks and tech.

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