Can shifting your work-week schedule save you time, and money?
Flex-time, sometimes referred to as compressed work weeks, isn’t a new idea. But it is rapidly gaining more mainstream acceptance. In fact, some realize it is the key to keeping happy employees and reducing costs.
Global competition is driving this phenomena, as well as requests from workers themselves. Gen X and Y workers in particular are embracing this trend. I have a friend who has submitted a proposal to her employers to work four ten-hour days so that she can retain one day a week to take care of family needs. She’s hoping her employer will agree.
Here are the financial benefits for working a compressed work-week:
Commuting costs — traveling one day less per week greatly reduces gasoline usage. My friend estimates she will save at least $200 per month on this alone. (She commutes about 45 minutes/day each way).
Childcare costs — my friend will save one day’s worth of childcare expenses every week. She’s happy to spend more time with her young son, plus, these savings can be shifted to other use. She estimates this will save her $50/week, not chump change once you add it up.
Opportunity savings— my friend intends to use her newly-free Fridays to spend time with her child. But, she might also use the time to work a part-time job or turn a hobby into a business. This represents potential earning opportunity based on a simple shift of schedule.
Another reason flextime, compressed work-weeks are gaining popularity? They are a “green” lifestyle choice. In a recent Washington Post article, “Flextime Has Green Appeal and Lures Younger Workers”:
Robert Trumble, a professor of management at Virginia Commonwealth University, said, “This idea that the public sector would move in and try to encourage [alternative scheduling], based on the idea of reducing traffic congestion, reducing pollution, most find it an appropriate time because of the price of gas.”
Bottom line? Shifting your schedule has many benefits, including potential to positively impact your financial life.
August 26th, 2008 at 9:42 am
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