As the digital age continues to advance, more and more people are choosing to become digital nomads. This means that they live a location independent lifestyle by working online jobs from wherever they might be in the world. It’s an exciting way of life, but how much can you really make? In this blog post we will discuss how much money a digital nomad can earn from working online!
The Pros and Cons of Being a Digital Nomad
There are some definite pros and cons to being a digital nomad. In this post, we’ll explore what those are!
Pros:
– Location independent lifestyle: Work from wherever you happen to be in the world! Who needs commuting?
– Live your life on your own terms: You get to experience more than one location without having to move there permanently. Perfect for people who love adventure but also want stability with their career or loved ones at home.
– Make money online while traveling: Many of us work remotely these days due to technology advances and it’s only natural that more people will become digital nomads as well when they realize how easy it is nowadays. Why not do both?!
Cons:
– Little community interaction at times: Even with the advent of things like Skype and Google Hangouts, it can still be difficult to make connections when you’re constantly traveling.
– Not everyone is cut out for being a digital nomad: It’s not always easy running your own business from different locations all over the world. As such, some people end up giving up on their dreams because they struggle too much or lose motivation.
– Too much personal space at times: For those who thrive in an office setting with coworkers around them, this may be tough as there are no co-workers nearby nor any offices available! The lack of other people around you could also lead to anxiety and uncertainty about how best to work remotely without feeling lonely.
How Much Money Can a Digital Nomad Earn
This will vary depending on the type of work you are doing. If you are a skilled professional, such as an engineer or programmer then the income could be very high. If not, freelance work can pay off nicely but it’ll depend on how much other people in your field charge for their services.
The amount of money someone makes is often determined by what they’re willing to accept and how hard they are willing to work. The average salary ranges from $30K-$70K USD per year for those who have been working remotely for some time with a large number making over $100k+.
It’s really up to the individual whether or not this career path suits them given that there will be obstacles along the way when it comes to self-motivation and finding ways to stay productive while traveling all the time.
What Kinds of Jobs Are Available for Digital Nomads
There are a wide range of job types available for digital nomads. There are a lot of jobs in the tech industry, but there are also opportunities with nonprofit organizations and creative fields such as photography or graphic design.
Some of the more popular jobs are web design, copywriting and blogging. These careers can be done from anywhere using just a laptop so long as they have an internet connection; this makes them perfect for those who want to travel often and work on their own schedule without being tied down to one location.
Above all else though, it’s important to note that these positions require certain skillsets which might not be accessible to everyone because some knowledge is necessary before even
Where to Find Work as a Digital Nomad
It can be quite difficult to work legally in many countries as a non citizen due to visa restrictions, however you can work online with many companies.
Freelancing sites like Upwork and Fiverr can be a good starting point for finding work as a digital nomad, especially in more remote countries. Don’t forget to check the job boards of local organizations too!
For those without an internet connection or unable to find any online jobs there are other legal ways of earning money while traveling. For example, you could teach English abroad through EF Language Schools – they have programs available all over Asia, Africa and Europe that will allow you to earn enough money while satisfying your wanderlust impulse at the same time.
It would be a better option to build up a client base or already have an established monthly income before you start travelling as a digital nomad.
Even if you’re not bringing in a huge amount of money each month, you’ll generally find that the cost of living in South East Asia and South America tends to be much cheaper than in the US or Europe.
How to Become A Successful Digital Nomad
Success isn’t an absolute, it will be different for everyone, some people will be happy earning $1000 a month while others won’t consider it a success until they are earning $15,000 a month.
As previously mentioned, I’d recommend that you have a framework in place before you become a digital nomad, I’d suggest that you have at least 1 year’s worth of expenses saved before relocating. So, for example, if you are planning on moving to Thailand and aim to live on $1000 per month, then you should have at least $12,000 saved before you go.
My reasoning behind this is that when you’re working for yourself, you’re not always guaranteed of making an specific minimum amount of money each month. You may have months where you will earn quite a lot, and you may have months where you earn far less than you expect. It’s important to have a buffer fund for months like these.
Also, I recommend that you have at least a few regular paying established clients or some websites that are proven revenue generators for you before you relocate. This will give you some breathing room and will allow you to focus on continuing to build up your business as a digital nomad while not having to worry about becoming destitute in a foreign country.
Tips for Becoming an International Traveler-Worker
The first step to becoming an international traveler-worker is coming up with a plan.
A digital nomad’s goal may be as simple as exploring and then returning home, or it might involve moving abroad for an extended period of time. The important thing is that he or she has goals in mind before leaving their hometown behind.
I recommend that you have a somewhat established online business before you begin your journeys overseas, one that is bringing in some money each month before you move abroad.
Plan which countries you will be visiting, do some research on how long you can stay in each on a tourist visa and check before you go there if it’s possible to extend your tourist visa and how many times this can be done.
Make certain that your passport has at least a couple of years remaining before it needs to be renewed. It’s generally possible to renew from overseas but this is definitely not something I’d leave to run down to the wire, it’s just not worth taking that risk.
One final thing that I strongly recommend you do, keep a separate bank account which you can access from overseas, preferably one which comes with a debit card. Treat this as your “Oh crap!” account, you should add some money to this regularly, even a small amount, but before you even start your journey the account should have enough funds in it for a flight back to your home country.
You’d be surprised at how many digital nomads get caught out with not having something like this in place, especially if their digital nomad experiment doesn’t quite pan out. They end up becoming stranded in a foreign country without the means to fly home.
The things I’ve mentioned here are designed to help you start thinking in the longer term, don’t just arrive in the place and hope that you’ll be able to fly by the seat of your pants!
Always have some sort of disaster plan in place so that if everything turns to crap then at the very least you can get back home. Make sure you already have a steady income stream before you become a digital nomad, this really will take the pressure off you.
And finally, always have a buffer fund in place (and keep it topped up if you can), so that you can be covered for those months when your earnings aren’t nearly as high as you were expecting them to be.
