Money9 Edit | Use 'Work From Home' period to beef up your emergency fund

‘Work From Home’ or WFH, was earlier considered a luxury, has now become a necessity. Employees have warmed up to this concept and are enjoying benefits associated with it.

Saving on transportation and other sundry expenses, we should be able to utilise this phase to build a robust emergency fund.

The kitty earmarked for holidays and fancy meals can easily be reallocated, thereby giving us extra headroom.

WFH can never compensate for the absence of bonding with colleagues and brainstorming over ideas sitting in the space. But looking at the current situation, with COVID-19 cases rising rapidly on a daily basis, reliance on virtual modes of official communication is set to stay for some time.

Who would have thought at the beginning of last year that the office life that we experienced would soon undergo a massive change.

Initially, majority professionals must have relished the prospect of WFH but soon, everyone the realisation dawned that personal and professional lives had blurred.

Some things are beyond our control. But a key takeaway from this experience has to be the savings made not only on transportation, but also on clothes and other aspects.

With reports of paycuts and job losses being rampant, the need to save more has gone up considerably.

Cutting corners on unnecessary expenses has now become the yardstick for survival for citizens.

Although workplace atmosphere is irreplaceable and WFH can be strenuous at times, it is up to us to make the most of this one pandemic-induced measure.