Risk transfer: Workplace virus transmission to family budget woes
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Lunch with colleagues got nothing on second breakfast, fourth morning snack, and sandwich 2.0.
Employees working from home amid the COVID-19 pandemic reported they are spending an average of $182 more on groceries per month, according to poll results released by CreditCards.com this month.
While telecommuting has been helpful in curbing the risk of spreading the virus from cubicle to cubicle, the move to work from home has put the average worker’s budget at risk, according to the poll.
In addition to food costs, workers are seeing an average of $121 more in utility bills per month. While workers are saving on such costs as child care, gas and public transit, restaurants and takeout, and clothes and dry cleaning, in total workers are spending an average of $108 more working from home, according to input from 2,768 respondents.
“Surprisingly, average expenses have gone up for people working from home, but it’s a trade-off most are very happy with,” an industry analyst at CreditCards.com said in a news release. “Most workers seem content to skip the commute and potentially work in their pajamas, even if it means spending more on food and utilities,” he added.
Meanwhile, the Wall Street Journal reported Friday that COVID-19 has caused homebodies to buy larger apparel.
More insurance and workers compensation news on the coronavirus crisis here.
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