Back to work wallet shock: The cost of returning to the office
Many Canadian offices are welcoming back employees this spring, but some workers will have to adjust their budget to afford it. Experts estimate it could cost a few hundred dollars a month to go back in.
“We have seen significant inflation over the years. Call it supply and demand,” said Laurie Campbell, director of financial wellness at Bromwich + Smith.
Campbell said gas, parking, going out for lunch and even coffee adds up for those who are used to working from home for the last two years.
She suggested people try to carpool, bring their own lunch and coffee or take public transit.
“If you have good public transit in your community, consider using it because the cost of gas and parking can be explosive to an individual’s budget,” Campbell said.
Waterloo region resident Zehanna Bisram said she won’t be driving as much. She goes back to work in July, in Toronto, after working from home for a year.
“Just going back to getting those office clothes, repurchasing all that stuff,” Bisram said. “It’s a lot.”
Campbell said shopping for supplies and work clothes is a reality many will have to face. She said it is important to plan a new budget and stick to it.
“Make sure you have goals whether they are monthly goals, annual goals or long-term goals so you have a reason to save your money and a reason to get rid of debt and a reason to budget,” said Campbell.
Campbell suggested continuing to work from home occasionally could save a lot of money.
“A lot of employers now know that people do like working from home so a lot of them are offering hybrid options,” said Campbell.
A poll conducted by Angus Reid at the end of 2021 found that 55 per cent of Canadians would prefer a hybrid model with many more willing to come back to the office if there were incentives like pay increases or better benefits.
Campbell said that's up to employers to gauge if it is their own budget to sweeten the pot.
CTVNews.ca Top Stories
Half of Canadians have negative opinion of latest Liberal budget: poll
A new poll suggests the Liberals have not won over voters with their latest budget, though there is broad support for their plan to build millions of homes.
Twins from Toronto were Canada's top two female finishers at this year's Boston Marathon
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
opinion Why you should protect your investments by naming a trusted contact person
Appointing a trusted person to help with financial obligations can give you peace of mind. In his personal finance column for CTVNews.ca, Christopher Liew outlines the key benefits of naming a confidant to take over your financial responsibilities, if the need ever arises.
Ottawa injects another $36M into vaccine injury compensation fund
The federal government has added $36.4 million to a program designed to support people who have been seriously injured or killed by vaccines since the end of 2020.
Senate expenses climbed to $7.2 million in 2023, up nearly 30%
Senators in Canada claimed $7.2 million in expenses in 2023, a nearly 30 per cent increase over the previous year.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Photographer alleges he was forced to watch Megan Thee Stallion have sex and was unfairly fired
A photographer who worked for Megan Thee Stallion said in a lawsuit filed Tuesday that he was forced to watch her have sex, was unfairly fired soon after and was abused as her employee.
Accused of burglary at stepmother's home, U.S. senator says she wanted her father's ashes: charges
A Minnesota state senator and former broadcast meteorologist told police that she broke into her stepmother's home because her stepmother refused to give her items of sentimental value from her late father, including his ashes, according to burglary charges filed Tuesday.
Australian police arrest 7 alleged teen extremists linked to stabbing of a bishop in a Sydney church
Australian police arrested seven teenagers accused of following a violent extremist ideology in raids across Sydney on Wednesday, as a judge extended a ban on social media platform X sharing video of a knife attack on a bishop that started the criminal investigation.