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Why do you think people who work from home would consume less? Where does that excess money go to?
by Jommi 6y ago
Why do you think people who work from home would consume less?
Where does that excess money go to?
- ilaksh 6y agoThey consume less gasoline and other transportation costs which can easily add up to $4000-5000 per year.
- Jommi 6y agoSo where does that money go to?
- lcam84 6y agoHaving more time on our hands can reduce consumption, for example, we can make our food instead of going to the restaurant or take away. We may have more time for the family and thus spend less on nursing homes or kindergartens. This is just my opinion but it can also reduce conspicuous consumption. Remote work makes it less necessary to be in the centre of a city or surroundings. This reduces the consumption used to define social status. For example at the moment the fashion business is in a strong decline. We are already seeing an increase in savings partly due to remote work. https://edition.cnn.com/2020/05/12/investing/jobs-coronavirus-consumer-spending-debt/index.html https://edition.cnn.com/2020/05/12/investing/jobs-coronaviru...
- ubercow13 6y agoMaybe businesses will have more incentive to produce actually 'fun' stuff for people to spend their money on, rather than more and more unnecessary status items.
- Jommi 6y agoI think you underestimate the human desire to consume. Making food at home suddenly makes you want to invest in higher quality ingredients, better tools. Maybe even a bigger kitchen! How did you come up with remote work increasing savings? It's more of a fact that in economical uncertainty savings will go up.
- rainyMammoth 6y agoSince I work from home I spend my extra time to cook healthy affordable meals. I barely drive and try to use my bike pretty much everywhere. Having the time to really do what I want gave me the opportunity to spend way less money on "idiot materialistic consumer things".
- Jommi 6y agoCould it be that soon you're just spending that money on other things as clearly your preferences have changed?
- rainyMammoth 6y agoDefinitely. But as a general trend my money will be spent on more meaningful "things" or experiences and not on the mindless stuff that I used to sometimes spend it on during my previous busy life. What I mean by this is I will buy less of fast food, gas, fashion, bars and more on experiences, travels and other hobbies.
- primax 6y agoWe are saving a fortune in lockdown. Our eating out has reduced considerably, and we are buying way less stuff generally.