The Hidden Cost of New Jobs


Getting a new job can be a really great thing, but we often forget it can be a very expensive thing. It’s easy to sit back and think about what you will do with your first paycheck, but what if it is virtually spent before you can even get your hands on it?

Let’s take a look at some of the hidden and often forgotten costs of starting a new job:

Commuting: This is one of the most common things that are overlooked when starting a new job. Your old job may have been only a few minutes away from your home whereas your new job may be much further. The new commute will bring you high gas bills and also higher maintenance bills. Those that use public transportation are not spared either as those costs will increase as well. If you are able to carpool, now is the time to give that a go. It will save you and those you are riding with some extra money.

Professional Clothes: Often times a new job comes with new dress code expectations and this can be a pricey unexpected expense for some. The new hires that are hit the hardest by this hidden expense are those that are recent graduates and those that are new to the working world altogether. This will be a time to be a savvy shopper and look for any deals possible since business clothing is not cheap.

Lunch and Other Expenses: Eating lunch on the fly, getting coffee in the morning or heading out to happy hour after a long day can really hike up your expenses. Think of it this way – if you were to spend $5 a day on one of the aforementioned things, you could spend over $1,000 a year. That’s an easily avoidable expense if you bring your own lunch and opt out of the other extras.

Source:
Green, A. (2014, September 8). 5 Hidden Costs of a New Job. Retrieved September 8, 2014, from http://money.usnews.com/money/blogs/outside-voices-careers/2014/09/08/5-hidden-costs-of-a-new-job?int=9a9808

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