Considered by many as living the dream, digital nomads face challenges that a conventional nine-to-five worker cannot understand.
From the regular travel expenses to varying accommodation costs, the financial unpredictability is a clock always ticking loudly in the background for them. But with their talent of finding adventure anywhere, these sojourners can hack their way into cutting down their budgets while maintaining their lifestyle.
We know some hacks when it comes to saving. Read our guide on becoming more mindful about money as a digit nomad.
We know you love the unpredictability, but a sprinkle of planning won’t kill the spark
Looking into the kind of places a city has before arriving can always prepare your wallet for the shock it’s about to receive.
From budget-friendly food streets, inexpensive hostels, to a cheap mode of transportations, all can be found with some research on travel sites, local Facebook groups and some communication with previous travelers.
Putting aside a sum of money for the necessities can help you allocate some for spontaneous adventures, so you don’t miss out on any key moments.
As boring as it sounds, draw up a budget
Google Sheets or mobile apps like Mint can help you have a record of your spending. This can guide you throughout the trip on where and how to spend your hard-earned money. Additionally, you can use your records to help other aspiring travelers estimate their trip costs for a place.
Luxury stay should be a treat and not a habit
Frequent stays in five and four-star hotels can deplete not only your bank account but also their spark. Unless you are on a vacation, you can opt for hostels and Airbnb for a lower price.
And, if you are on an even stricter budget, use the backpacker’s favorite couch surfing technique, where you can look up people offering a free couch to stay at their place at couchsurfing.com
It might not always be the most stable place to stay, but it gives you a chance to interact with the locals and see their lifestyle up close.
Another way to get free accommodation is usually in exchange for some volunteer work. Websites such as freevolunteering.net, helpstay.com, can help you find opportunities to give to society while you enjoy a safe stay.
When in doubt, go local
For digit nomads freelancing or online entrepreneurship gets shaky at times. Finding work in a local workshop or a café can not only give an excuse to interact with locals but will help you earn some extra cash. It will allow learn some new skills and get unexpected experiences.
Looking for local options can be a savior at other times too. Opting to travel via train in some countries can be much cheaper and more exciting than air travel. It is not always best to take the conventional path, wander a bit and find the best options.
You will find renting bikes can save you from costly Uber trips in many European countries and give you a better sense of the locality.
Budget airlines are game-changers for your wallet
Air tickets can be hefty on your budget and cutting them down can give you some serious advantage in other areas of expenditure.
The key here is looking around extensively for discounts and promos. Cheap tickets during promotional seasons and using budget airlines can benefit you in the long run. Sticking to one airline can also be beneficial, as you can avail the miles for discounted trips. Many websites can compare airline prices and find you the most pocket-friendly option.
Always be meticulous when it comes to traveling. Missing out on mere details such as baggage limit can end you up with additional costs you could have easily avoided.
Happiness might be just outside your comfort zone
Changing your expensive habits can help you seek out for new experiences. When you switch your hour-long massages with yoga by the beach, you will see a growth in your personality.
Similarly, as much as you might be used to it, it is not always necessary to buy expensive food from must-eat places because sometimes undiscovered food stalls and cafes can shock your taste buds. You could even cook for yourself with locally bought ingredients and invest the money saved in an exciting project.
Don’t limit your travel destinations
When it comes to choosing a destination, look for cities that suit your budget. The digital nomad community has a few favorites such as Chiang Mai and Prague, where living costs can be considerably cheaper than in cities like New York.
But, go beyond the tourist handbook to discover small towns and cities were few ventures. They will surprise and educate you. So, Research about these places beforehand as they can be more feasible and provide a transparent outlook on culture and life.
Make sure you are in control over your spending, and not the other way around
Having a nomadic lifestyle does not mean letting go of all the responsibilities. Having control of your spending will help you save up for the future.
Whether it is a project you want to launch, a business you want to start, or just mere retirement plan you want to build up, it is always smart to invest in a dream. Even if you are not on remote work through a corporation which offers retirement plans, find other options and put aside a monthly percentage of your earnings towards a better future.
Wanderlust is the fire that usually drives digital nomads to adopt this lifestyle. Having an incentive to save, be it a dream place to visit or a stable retirement plan, always helps budgeting be a little easier.
New places might come with new surprises, and while enjoying the novelty make sure you don’t carry the stress of a fluctuating budget.
Thanks for reading!
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