There’s a way and with a solid plan and heaps of determination.
Saint Augustine was once quoted as saying: “The world is a book, and those who do not travel read only one page.” In an attempt to not only escape the 9 to 5 rat race but also explore some of the world’s most intriguing destinations, an increasing number of people are opting to become full-time travelers. While quitting your job and leaving your mundane life behind to become a traveling digital nomad undoubtedly sounds like a dream come true, one can’t help but wonder how it is even possible to finance such a drastic life change. Luckily, where there’s a will there’s a way and with a solid plan and heaps of determination, you too can look forward to a life on the road.
Save money before you travel
Before you shun convention and embark on a life on the road you will need to save enough money to see you through at least the first couple of weeks away from home. Most people who choose to become full-time travelers choose to sell most of what they own to increase their cash flow. Opening a designated savings account and putting away a portion of your salary every month is also a good way to ensure your survival on the road. This is also when you can consider financing your travels (or at least part thereof) with a personal loan or credit card. If you are positive that you can afford to make the repayments, this is a good way to boost your finances ahead of your departure.
Create a steady income flow
If you want to travel full-time, you will need a steady income to finance it. The type of work you do while on the road will ultimately depend on a number of things including your own personal interests and talents, and whether you are traveling solo or with a partner/your family. The key to successful land stress-free full-time travel is to recognize the various opportunities available to you and monetize the ones that are most suitable to you. If you choose to be a digital nomad you can peruse a number of sites such as Upwork and Fiverr that have countless opportunities available for remote workers. If you plan to spend more than just a couple of days or weeks in the same location you can also try your hand at more traditional jobs such as working in a bar, restaurant, or hotel or teaching a skill to a local community.
Draw up a budget and stick to it
One of the most important rules of full-time travel is to stick to your budget. A budget will keep you aware of your income and expenses, enabling you to always know exactly how much money you have at your disposal for various things. When you are traveling full-time it may feel like you are on a permanent vacation which might sound like fun, but can spell disaster for your finances. By drawing up a budget and sticking to it at all costs you will, for the most part, protect yourself from falling victim to tourist syndrome which typically results in multiple impulse purchases and heaps of regret. Don’t wait until you are on the road to start budgeting either. Creating a household budget will slowly warm you to the idea of living economically while also allowing you to save some extra money towards your planned travels.
Becoming a full-time traveler is a big step to take. While it may seem somewhat daunting, good planning and an inherent sense of adventure can turn it into one of the best decisions you have ever made.