How to Earn and Save Money While Traveling as a Digital Nomad
In life, happiness isn’t something you can buy but a plane ticket definitely is! How many times have you sat at your desk and had thoughts of quitting or what would be the first thing you did after quitting your job? Well, if you’re like most Americans, you’ve probably had that thought at some point during your career, and when you have thoughts like that, it typically means that it’s time for a career shift.
According to CNN Money, more than half of US adults are unhappy at their jobs. In their unhappiness, some people will stay in their same field but job hunt for a different company to work for while others will grab their laptop, hop on a plane, and move to Spain! That’s quite a major move and shift in careers but, surprisingly enough, people do it all the time! This drastic career move is called adopting a digital nomad lifestyle.
As a digital nomad or location independent professional, you’re going to be earning an income through the use of the internet all while traveling the world… To lots of people, the digital nomad lifestyle is like having the best of both worlds… you get to travel and make money! And in most cases, it truly is the best of both worlds but because it is a total lifestyle change, there are going to be some things you need to seriously think about first before you uproot your life.
Preparing For the Digital Nomad Life
The hardest part of becoming a digital nomad is actually making the decision to do it. When the thought of becoming a location independent professional first came into your mind, you probably had all kinds of thoughts and read all kinds of positive and negative things about, causing you to go back and forth in your mind about it. But once you finally make the decision to become a digital nomad, you need to ask yourself a few questions.
“Why do I want to be a digital nomad?”
This is a very important question to ask yourself before you hop on a plane. Do you genuinely have a desire to see the world? Or are you just tired of your current job? If you’re just tired of your current job, you might just need to find another 9 to 5, not go to the other side of the world.
To be a digital nomad, you’re going to love the beautiful places you’re going to see but you will get lonely at times and you have to be able to work hard without anyone telling you when to work and how often to work.
If you’re going to adopt this lifestyle, you need to make sure you’re doing it for the right reasons, if not, you’ll be miserable the entire time.
“What’s a realistic time frame before I go on my journeys?”
Before you set out on your digital nomadic journeys, you need to give yourself a realistic time frame to get started. Also, remember, it’s a lifestyle, so if you only plan on doing this for a year or so, you’d be better off just saving so you can solely travel and not worry about working.
But again, if you still want to embark on the journey, you’re going to want to at least give yourself a good year to save up so that you’ll have a little nest egg to sit on because, in all honesty, it’s probably going to be a while before you start earning an income during your travels. So give yourself at least a year to continue working your full-time job and aggressively save. By the time the year is up, you can live off your savings until your income really starts to pick up!
So in order to survive as a digital nomad, you’re going to need to incorporate a combination of earning and saving methods. By incorporating earning and saving into your newly adopted lifestyle, you truly will be able to live the best of both worlds.
Ways to Earn as a Digital Nomad
Become an Online Store Business Owner
Becoming an online store business owner is actually a way to earn income long before you begin your digital nomad journeys! You can actually start this the moment you decide to embark on the journey. To become an online business store owner, you would simply first buy your domain name and build your website… shopify.com is a great website builder and blogging platform that allows you to not only sell your products but to also get involved with your customer community
Rent Your Home Out
Renting your home out is the easiest way to earn passive income… you don’t have to do a thing except get your home prepared for tenants and collect a steady check every month. That income can be saved and put towards your next travel destination!
Ways to Save as a Digital Nomad
House sitting is probably one of the biggest ways to save money. Why? Because it doesn’t cost you a dime! With house sitting, you’re practically cutting out one of the biggest expenses of being a digital nomad and that’s accommodations.
Depending on what part of the world you’ll be in, hotels and hostels can get a little on the pricey side, so by house sitting, you’re getting an entire house or apartment to lay your head at in exchange for watering a few flowers and taking care of the pets while the homeowners are on vacation or out of town.
Explore Free Attractions
People always seem to think that you have to spend tons of money in order to have a good time somewhere and that’s not the case at all, especially in countries full of rich history. There are places with museums with free admission, beaches are free, admire some of the ancient ruins, and you can go backpacking in mountainous regions.
Now, if you plan on going on your first backpacking adventure, you just need to make sure you pack the essentials… everything from safety gear to toiletries and medicine, you don’t want to leave your accommodation without the essentials.
Eat Like the Locals
If you only eat at “touristy” locations, you’re not only going to deprive yourself of authentic food but you’re also going to spend considerably more money at those locations too. So just pay attention to where the locals eat because they know good food and they know reasonably priced food!