Top Tips for Digital Nomads
If you're going to be travelling the world and want to earn enough to fund those travels through an online business, then you're going to find that that are a few financial pitfalls to avoid. This is not to say that you can't run a successful business on the road, which you definitely can, but rather just to point out that there will be limitations with regard to what you can achieve online.
For example, you:
- Want to make your own YouTube channel? Great – but don't expect to set up a home filming studio!
- Want to hire a team? It's doable through remote working apps but it's going to be harder.
- Want to work with a new business partner? You can do that too, but they will be a little frustrated by your constant changing work hours…
So you need to make do with what you can manage and that means finding ways to make your money go further. Here are some tips that will help…
Use the Best Travel Sites
There are plenty of great travel sites that will make it easier to get around for less. SkyScanner is excellent if you want to find the cheapest flights for example. AirBnB is brilliant for getting accommodations more cheaply too. And then there's CouchSurfer if you want to avoid paying for an accommodation at all…
Use Your Connections
Most of us have some connections and using those will be helpful for finances, business, and travel. For instance, if you have friends abroad then why not go and stay with them? You can even make friends on your travels and then go back with them to visit their home! (You don't know if you don't ask…)
Likewise, you can team up with friends to get things more cheaply. For example, why not all chip in to stay in a villa instead of each paying for individual accommodation? If you know you are going to want to travel and live the digital nomad lifestyle, then it is a good idea to join social groups online and start making friends in the areas you intend to visit or live ahead of time.
Have Side Incomes
Developing some side incomes can be very helpful as a nomad. That might mean setting up some passive income streams – such as selling an eBook – or it might mean earning money from a job back home that lets you work remotely. Another great way is to rent out your property to tenants. You could also buy stock that pays a dividend.
In addition, you could sell various services while you travel. How about offering to cut hair if you know how for instance? Or buying and selling things you find on your travels?
Always Be Building Skills
Build skills that you can use anywhere. If you want to be free to live and work anywhere it is important that you are cable and that they value you offer can be applied anywhere. Learn IT, learn a language, learn business and online marketing, learn how to trade stocks and invest…. Learn skills you can take anywhere. If you learn real estate, you may be able to take it with you, but you also may be tied to a specific location…s o pick wisely.