How Working From Home Can Get You Out of Debt.

Working from home has its perks. You can roll out of bed, grab a cup of Joe and be at your desk in record time ready to start the day. And there’s no need to pull out that pressed suit each morning to make sure you meet the company's dress code. Casual wear or pajamas will do. But there’s another major benefit that may not have crossed your mind: working from home can help you get out of debt faster. Here’s how:

Working at home has tons of perks!

You'll have minimal transportation expenses.
No more leaving home an hour or two early to beat rush hour traffic and make it to your cubicle in time. Working from home allows you to save a bundle on transportation expenses, like gas, maintenance, and repairs, since your vehicle won’t spend a ton of time on the road. Plus, there won’t be much wear and tear so you’ll keep repair costs low. So, if you’re accustomed to spending $40 each week on gas and working from home allows you to cut that amount in half, you’ll free up $80 each month to put on debt.

You won't eat out as much.
It’s not uncommon for coworkers to ditch the office at lunchtime or order takeout. The only problem is buying lunch each day adds up. And if money’s already tight, this expensive habit could be contributing to your rising debt load. To put this into perspective, spending $10 on lunch each day will cost you $50 per day, or $200 per month. But if you’re working from home, you’ll be less inclined to leave your desk as the kitchen is only a few seconds away.

After-school care may not be required.
Depending on your work arrangement, you may be able to cut the day short and avoid paying for after-school care, which can be costly. But this will require stellar time management skills and works better when you have older children.

You can workout at home.
Instead of joining the gym, head to your garage or roll out the exercise mat in your living room and get to work. There are tons of programs you can stream directly from your smartphone or computer to your television. Or you can blare your favorite tunes and march to the beat of your own drum. Either way, you’ll save a nice chunk of cash on that gym membership.

Some side hustles have low start-up costs.
Looking to start a business from the comforts of your own home to supplement your income? Many online businesses, like consulting, writing and e-commerce operations, can help you earn the funds needed to reach your debt-payoff goals faster.

You won't spend as much on apparel and footwear.
At some point, you may have to put on professional attire and head out for an important meeting. But purchasing an entire wardrobe and the appropriate footwear can be costly. Luckily, working from home allows you to scale back and use the money saved to pay down debt. Even better, you won’t have to deal with that weekly dry cleaning bill. And your formal footwear should last much longer if it spends more time in the closet than on your feet.

You may qualify for the home office deduction.
If you’re an independent contractor or run a business from your home, you may qualify for the home office deduction. This means you can deduct a percentage of your home used in business on your tax return. See IRS Publication 587 to learn more.

As a last resort (or if you want to amplify your debt payoff efforts), you can seek help from these top debt relief companies. They may have solutions available that will allow you to reach the finish line faster.