💰 Vacation smarter

Mar 24, 2024

Happy Monday, Money Makers! Fun fact: our entire team works fully remotely and many of us are from different parts of the world so we may be more inclined to support the WFH end of the remote working debate but in this week’s issue of Hack Your Money, we discuss the financial implications of working remotely vs. working from the office. 

We’re also breaking down all the ways you can save some $$ on your next vacation so be sure to take our advice, and most importantly, implement it! Remember, your money won’t work unless you do. With the exception of a high yield savings account which literally gives you free money every month if used right. Learn more at milansingh.co/banks as we supercharge your money, one step at a time 

- Milan


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*Stock data as of closing on March 22nd.


Breaking Down Remote Working 

The efficacy of remote work is still being debated by many major corporations, but what are the financial implications of remote work for individual employees? Let's break it down. First off, remote work can bring significant cost savings. Say goodbye to commuting costs – no more gas, parking fees, or public transportation fares eating into your budget. Plus, working from home means fewer lunches out, coffee runs, and wardrobe expenses. These savings can add up quickly and leave more money in your pocket.

However, it's not all sunshine and rainbows. Remote work may come with its own set of expenses. Investing in home office equipment, like a comfortable chair, desk, and reliable internet connection, can be necessary but costly. Additionally, utility bills may see an uptick with increased energy usage throughout the day. And let's not forget about potential expenses related to setting up a dedicated workspace or upgrading your home environment for optimal productivity.

Navigating the financial implications of remote work requires careful consideration and planning. While it can lead to significant cost savings in some areas, it's essential to budget for potential expenses associated with creating a comfortable and efficient remote workspace. Do you prefer remote work or working in office? Reply to this email and weigh in on the debate!


Vacation Smarter 

Warmer days are fast approaching and a sunny vacation is on everyone’s minds - it's time to talk about holiday budgeting so we don’t go overboard. First up, set a spending limit and stick to it like glue. Take a good look at your finances, decide how much you can afford to spend without dipping into your savings or going into debt, and then divvy it up among travel, accommodation, dining out, and experiences.

Look for credit card offers when making your reservations and if you need to buy things like a new swimsuit or sunscreen, don't forget to shop smart – look out for sales, compare prices, and use coupons or cashback rewards to stretch your budget further. Hot tip: Amazon’s Big Spring Sale ends today so grab those deals while they last 

Lastly, stay mindful of your spending throughout your vacation. It can be tough to curb your spending when you’re trying to treat yourself but what’s the point of a holiday if you come back home broke and miserable? Keep track of your purchases, avoid impulse buys, and resist the urge to overspend. By planning ahead, getting crafty with your itinerary, and staying disciplined with your spending, you can have a stress-free vacation and a stress-free return back home!

If you’re looking for the perfect card to help you save and travel better, check out my top recommendations at milansingh.co/credit-cards