Absolutely. It was amazed how much money I saved each month when I went to 3 telework days a week:
Professional clothes and dry cleaning
Gas and car wear and tear
Tolls
Home office tax deduction (which can be huge for FT telework)
Parking
Going out to lunch with colleagues
Putting aside the work-life balance issues and low stress, I would would be surprised if you didn't would be surprised if you could break even (save $325 a month). Do the math on the hard number like gas, tolls, dry cleaning and eating out. Add in some amount for a wardrobe that is not 90% PJs. Then look at what the home office tax deduction saves you. You will be surprised.