Planning Financial Budget While Becoming A Digital Nomad (2)

We have been talking about money since the last blogpost. Money matters can be a bit complicated especially while travelling. We would love to share more tips from our experiences about money saving and budget handling while you explore those unknown terrains of this beautiful world. It’s expected to get into money dilemmas while travelling. This might take up your time and effort, and sometimes turn out to be an expensive affair. It’s important to be informed about various money transfer policies, insurances, conversion rates and local charges way ahead of your travel. Being informed can not only save you money but also your precious time.

Here are some more tips that might help you on your nomadic journey:

1. Clear Debts

Not the most affirmative tip to start with - we know. But clearing debts is crucial. You might be still paying off your student loans or mortgages. It’s important to clear these baggage before you start a nomadic lifestyle. Often, freelancers have a very unpredictable income and this is an expected outcome of travelling and remote work. You will be dealing with a lot of challenges on your read and we really don’t want you to add debts to your concerns while travelling. While many countries are cheap for travelling and staying, it’s still good to be prepared for some emergency funds every now and then. Hence, clear your debts before you hit the road.

2. Find Great Remote Gigs

This is the most important tip. If you already have a remote job, well good for you! If not, find jobs that’s location independent or even check with your boss, if you could work remotely permanently. So if your boss agrees, and it’s safe for you to travel, take your suitcase and laptop and jet off to that most awaited destination. If you are a freelancer, make sure to create an amazing portfolio and find gigs that suit your taste and convenience. You should have enough projects before you make your journey. A lot of nomads quit their jobs and hop on a plane. But then you have to constantly hunt for projects during your travels. It’s double the work. So, it would be more preferable to have a safe number of projects before you decide to become a digital nomad. Well, if you are a risk taker, we won’t hold you back!

3. Choose Off-Season Months

If you are someone with the flexibility of time, we say, choose off seasons. It’s the best time to get cheap flights, accommodations and also you will get to enjoy the localities in peace. This can save a lot of money and if you are someone who enjoys slow travel rather than jet setting, then choosing off seasons might come with a lot of advantages. While you get to avoid the crowd, save money and have a more calm and raw experience, you can make the best of your time as a digital traveler. It’s much easier to get a table at the restaurant without waiting in line. Take advantage of the thin off-season crowd and visit those most coveted destinations!

4. Save Up

Before saying adios to your 9-5 jobs, make sure to save up. You need to fund yourself and make sure you have a cushion incase of emergencies or other unpredictable situations. Figure out exactly how much you need for your first destination and make sure you have more than enough. If you have to pause and get back, you have to cover yourself. Make sure you create an emergency fund that covers at least two months of your expenses without fail. This includes your food and accommodations, Wi-Fi, transportation, flight tickets, emergency medical bills, funds for accessories like laptop and mobile incase they get stolen, insurance money and more.

No matter what you need to get your finances in place in order to sustain your nomadic lifestyle. It’s worth it to take your time to manage money before you travel. If you are keen on checking your bucket list of countries, get your finances straight. The rest will be a wonderful story filled with mountains and monuments!