Funding your adventure to explore the world involves combining your work with a traveller’s passion. As a result, the digital nomad lifestyle is incredibly attractive to many people eager to book their next trip. Of course, working for a company often means having limited annual leave. Fortunately, many employers now offer their teams an enticing opportunity: working from anywhere. Essentially, you can travel wherever you like, work during the day, and explore your destination in the evenings.
Digital Nomad Essentials: Funding Your Travels with Online Earnings
But the question remains: how do you fund your trips and continue booking those exciting adventures? This article introduces a number of online activities that can help you earn a little extra. They’re perfect for making additional money for travel or other indulgences!
Freelancing
One of the best ways to start budgeting for life as a digital nomad is through freelancing. Ideally, you should begin this journey with enough money to last between six months and a year. From there, you can gradually grow your client base, establish boundaries, and take pleasure in your craft. After all, freelancing doesn’t usually provide a stable income – you might experience peaks and troughs. The ideal approach would be to start freelancing before fully embracing the digital nomad lifestyle, giving you time to understand how much you can earn.
Passive Income
Passive income is another method that can help you save enough for your digital nomad lifestyle. While the earnings from these techniques might not be huge, every pound counts when it brings you closer to your dreams.
For passive income, you could rent out your home while travelling. Additionally, you can sign up for various survey or market research websites and get paid to participate. You could even get paid to watch Netflix by becoming a tagger or by joining studies focusing on its content. Both activities require effort, but they’re a fun way to generate money.
Saving on Flights and Accommodation
The most expensive parts of any trip are often the accommodation and flights. Therefore, it’s important to always be on the lookout for cheaper plane tickets, such as booking a spontaneous trip due to lower prices. However, always check the prices of hostels, hotels, or Airbnb before booking a cheaper flight, as accommodation costs could be significantly higher. Also, consider house-sitting opportunities, where people entrust you with the care of their home while they’re away.
Selling Unwanted Items
You can earn quite a bit of money by selling things you no longer need, and this cash can fully or partially fund your next trip. Facebook Marketplace is one of the easiest platforms for selling various items, though you can also use more specialised sites for selling old things.
Not only does this allow you to earn a bit on the side, but it also helps declutter your home or flat.
Financial Tips for Digital Nomads
Saving enough for your travels is one thing, but the digital nomad lifestyle tends to come with less financial stability. Plus, dealing with medical emergencies can be tricky when you’re hopping from one country to another. Here are some tips for managing your finances and spending wisely:
- Research each country before visiting! Look for tips on how to spend less, and aim for countries where the cost of living is lower or similar to your home country.
- One way to save on mobile data costs abroad is by using eSIM services like Saily. To learn more about how this product can benefit digital nomads, check out this Saily review, which offers insights from other travellers.
- Travelling often leads to overspending, but for digital nomads, it becomes routine. Therefore, it’s crucial to create and stick to a strict budget.
- Be aware that tax laws in the countries you visit may differ from those in your home country. For instance, you might become a taxpayer after spending a certain amount of time in a particular country.
- Always have an emergency fund or pay for insurance that’s valid abroad.
- Avoid buying one-way tickets, as return flights are sometimes cheaper when booked together. Remember other tips for finding the cheapest flights possible as well.
- If you’re working for a specific company, check whether there are any restrictions on working from certain countries.
- While eating out every day may be tempting, it’s usually more economical to cook at your accommodation. Try to book places with a kitchen, even a shared one.
Wrap Up: How to Fund Your Travels with Online Earnings
Becoming a digital nomad requires a great deal of preparation, especially when it comes to finances. This includes saving money and figuring out how to support yourself. However, it’s also about the psychological aspect. After all, you’ll often be alone in a foreign country. The more information you have about your destination, the better. Then, you can solve problems quickly and feel more confident travelling on your own.
What about you, how do you fund your travels? Feel free to share any tips & advice below!
ABOUTME
We overland. We eat plants and fungi. We live outside as much as possible. We are all connected. A female travel blogger overlanding and writing about ecotourism, ethical and sustainable travel, socially conscious travel and housesitting. An online travel magazine since 2015.
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