This guest post is written by the amazing Molly Barnes who runs the website DigitalNomadLife.org. Molly recently quit her day job and started traveling across the country with her boyfriend. On her blog, she shares previous tips about budgeting, working remotely and traveling. Welcome Molly!
For some people, a house in the suburbs and a family is the ultimate goal. For others, particularly those in their 20s, seeing the world is a higher priority. There’s certainly no right or wrong way to set goals or approach life, but living a nomadic lifestyle comes with a lot of advantages. From cultural traditions to cuisine, the world is an amazing place. Without taking a leap and hitting the road, you may never see the countless wonders across countries and continents.
Leaving behind a traditional job and life to live on the road may seem overwhelming, but it doesn’t have to be. There are many steps you can take to prepare for and help yourself afford a nomadic lifestyle — no matter how much you make or where you’re planning to go.
Create a Plan
Before booking a one-way plane ticket, you need to have an idea of where you want to travel, what you want to see, and how long you plan to leave the comforts of home. You don’t need to have specifics pinned down at the start, like all the countries you plan to see or the order in which you’d like to see them, but a basic structure for what lies ahead can be valuable in planning for the future.
For example, a six-month adventure will likely require different cost considerations than a nomadic trip of a year or more. It’s okay to leave things a little open-ended when you’re just starting to brainstorm, but there’s no good way to be sure all your financial bases are covered unless you have a framework in mind.
Planning is a critical part of the process and will serve as the structure of your budget. If along the way you find your rudimentary plans aren’t in line with reality, you may need to take more time to save or reconsider your must-see checklist before setting out on your adventure.
Set a Budget
When you choose a nomadic lifestyle, you can surrender many of the costlier aspects of modern life, like paying for long-term rent or a mortgage and covering the cost of commuting. However, this doesn’t mean traveling the world is free. Instead, you’re essentially replacing one significant set of expenses with another: plane or train tickets, temporary lodging, and food while on the go. With the framework you have in mind for your adventures, determine about how much you can afford to spend per month to cover housing, food, and other basics, like internet access, a data plan, or energy costs.
Be aware that your expenses may change from month to month. Staying in rural Brazil will likely be much cheaper than anywhere in Paris, so adjust your expectations accordingly. Be sure to consider all options to keep your costs down, like couch-surfing with acquaintances or staying in hostels. And recognize that not all your domestic expenses can be eliminated by traveling; you’ll still need to calculate and pay taxes if you have any income, so make sure you’re prepared.
Tie Up Loose Ends
While you’re gone, will you let the lease on your apartment end? Will you sell your car? Can you use your home as a vacation rental? Will your job let you take an extended leave or work from the road? All these questions need answers before you depart. Everything from your car to your pets to your mail will require arrangements while you’re away, and in many cases; this usually means leaning on friends and family to ensure nothing slips between the cracks. Ideally, you’ll do what you can to keep costs low, like waiting to leave until your lease runs out, but selling a house to travel for a year isn’t prudent, for example.
Think carefully about options for addressing all your obligations, both major and minor, and create a definitive plan for how everything will be organized. Even seemingly little things can cause big issues, like inquiry letters from the IRS that easily get ignored, so be sure you’re completely covered before you embark. The peace of mind you get from having everything taken care of can vastly improve your experience on the road.
Create an Income Game Plan
Unless you’re lucky enough to have plenty of disposable savings and can see the world without sacrificing retirement or future plans, you’ll likely need to generate some income while traveling. If you have a job that’s already remote, you may be able to continue on as normal with the approval of your supervisor, but for most people, it won’t necessarily be easy. You may be able to switch over to a freelance format; for example, an accountant could offer per-hour freelance consulting to small businesses, or a marketing pro could offer content writing or social media management from afar.
For those dedicated to switching careers, it may be possible to find something more flexible and even travel-oriented, like an international sales position or a job that requires a frequent presence at trade shows or conferences. You may not be able to rival your old salary, but consulting, contracting, sales, and even crafting can be handled remotely with lucrative results, so think about your options and get creative.
For those with stable jobs, asking for an extended leave of absence may yield the ability to travel without losing employment, but for many people, a nomadic lifestyle may mean leaving a good job behind, so carefully consider future ramifications before taking off.
Draft a Dedicated Itinerary
When everything from your budget to your income plan is arranged, and you’re sure traveling is a realistic option for your life, it’s time to determine exactly what lies in store. You need a plan for where you’re going and how you’re getting there, options for residence, shopping and cooking options, sightseeing opportunities, and anything else relevant during your stay.
Do thorough homework on everything from cost of living in each area to price points for hostels, hotels, and AirBnBs. Even life as a nomad requires planning, so invest plenty of time in this step to be sure your budget and arrangements at home will cover you as long as you need.
If you’re concerned about hitting too many high-cost places, like European capital cities, blend in some lower-cost avenues. Within the U.S., for example, Atlanta is a cultural mecca with plenty to do, lots to see, and ample places to rent at a fraction of the cost of New York City.
Leaving normal life behind to travel the world can be frightening, but it’s a risk well worth taking. By leaving a desk job and the standard obligations that society insists are necessary, if only for a little while, you can take advantage of what may be a once-in-a-lifetime opportunity to see what other nations and cultures have in store.
