Finance Needs to be Well Arranged so that the “Work from Home” Policy will not Cause an Increase in Spending.

With social and physical restrictions, we are generally more inclined to maintaining personal hygiene and health. As the result, the spending can be higher than when we work in a normal condition.

KOMPAS/TOTOK WIJAYANTO

A store attendant arranges a mannequin on Monday (23/3/2020) at a shopping center in Kuningan, South Jakarta, where most shops have posted notices of temporary closure. The decline in economic activities in Jakarta is expected to prompt migrant workers in the informal sector to return to their places of origin.

The novel coronavirus outbreak has changed many of our daily routines. Now, when going out, we must be more careful and have to avoid crowds so as not to become infected. Before, we usually worked at the office, and now we are asked to work from home (WFH).

Social and physical restrictions make us more inclined to maintain personal hygiene and health. On the other hand, the spending can be higher than when we carry out our daily life in a normal condition.

It could be so wasteful this week, when we began to work at home due to the pandemic.

In a survey conducted by Kompas through Instagram Story on Thursday (3/26/2020), as many as 33 people (60 percent) out of 55 people said that their expenses when working at home were greater than when working at the office. As many as 37 people (69 percent) claimed there were many unexpected expenses while working at home.

Fadia Bulky, a civil servant who has been working at home with her husband for a week, claimed to be more extravagant. In order not to leave the house frequently, she admitted that she had bought many foods such as snacks, instant noodles, milk, and frozen foods. In addition, she also often ordered food through online delivery services.

She and her husband did not spend much on food when they worked in an office. "It could be so wasteful this week, when we began to work at home due to the pandemic. Maybe if you get used to it, it can be more controllable," she said when contacted on Thursday (3/26/2020).

Also read : People’s Discipline Crucial to End the Pandemic

KOMPAS/SHARON PATRICIA

People buy hand soap at the Grand Lucky shopping center in the Sudirman Business District (SCBD) in Kebayoran Baru, South Jakarta, on Tuesday (3/3/2020).

Indah Rosalina, a lecturer who now also has to do activities at home, acknowledged that she had made a lot of unexpected spending to protect families from the pandemic.

"I try to protect my husband who is still working outside. Then buy face masks with unreasonable price of Rp 450,000 per a box because her husband works two kilometers from Wisma Atlit [now used as a coronavirus hospital] . Then, provide him with healthy cooking and vitamin C. They are also very expensive, "said Indah, who was contacted separately.

Indah is turning to online stores to buy basic necessities such as vegetables. Apart from the fact that many shops in the market are closed, products sold at online stores are often cheaper.

I try to protect my husband who is still working outside.

"Moreover, prices in traditional markets have also gone up. For example, the price of ginger is now Rp 40,000-Rp 50,000 per kilogram (kg), red ginger Rp 100,000 per kg, while a bundle of spinach costs Rp 5,000, rising from Rp 2,000. The price of sugar has increased from Rp 12,000 to Rp 18,000 per kg," he said.

In addition to consumption costs, work at home also makes electricity expenditure also swell. Anggriawan, a private employee, estimated that electricity expenditure would rise because he used air conditioners at his home longer hours than usual.

"So far it is fine. The transportation and entertainment budget can be allocated to electricity and internet costs, "he said.

KOMPAS/RADITYA HELABUMI

Office employees walk through the Jl. Kendal tunnel in Central Jakarta after work hours on Monday (16/3/2020). The government has urged residents to reduce activities in public spaces, including by encouraging them to work at home to help curb the spread of the COVID-19 coronavirus. However, not all offices have implemented such a policy.

Expense evaluation

Making extra spending in the midst of a pandemic was tolerated by financial planner Anggriani & Partners, Metta Anggriani. However, this condition needs to be addressed so that the risk of overpayment or reduced income in the midst of an uncertain economic situation can be prevented.

You can do it by evaluating the amount of expenditure for working at home. Then, rearrange the previous spending items that can be used for the spending of additional needs.

"For example, if during normal days there are a lot of expenses for transportation or entertainment costs. Now, they can be diverted to cover extra costs for food or electricity," Metta told Kompas.

The spending for basic necessities should be prioritized over entertainment expenses, such as subscribing to video streaming services for entertainment. However, expenditures for basic needs must also be monitored so as not to disrupt the cash flow.

Saving, according to Metta, must also continue to be done to anticipate an increasingly uncertain situation, because incentives or business income might be reduced due to the pandemic. The investment needs to be done more carefully, especially in instruments in the capital market which is now still plummeting.

Kompas

Shelves are empty of toilet rolls in a supermarket in Sydney on March 4, 2020. - Australia\'s biggest supermarket announced a limit on hand sanitisers and toilet paper purchases after the global spread of coronavirus sparked a spate of panic buying Down Under.

Inventory requirements

Unexpected expenditures driven by panic buying must also be avoided by raising the stocks at home. According to Metta, this step is necessary to allocate expenditure appropriately. In addition, it can prevent goods being damaged because they are not stored properly.

"We must arrange spending based on the data of existing goods. For example, if last week, we spent a lot for large items as stock, now the focus will be on small items. Let\'s look again at the existing inventory at home. Be careful if you buy a lot of things, you have to store them properly so they are not bitten by a mice , damaged or expired," he said.

He also reminded people not to be too responsive and to panic buying. Moreover, the government and retailers have guaranteed that food supplies are sufficient.

"Because the food stock is in sufficient condition, the government has revoked a policy which limits purchase at the consumer level. However, people are advised to buy things as needed," the director general of the domestic trade at the Trade Ministry, Suhanto said (Kompas, (25/3/2020).