Many people, if given the chance, would jump at the first opportunity they get to quit their jobs and travel the world. Yet, very few end up doing it, because it requires a decent-sized savings account or changing their lifestyles altogether.
If you are keen on pursuing a nomadic lifestyle, here are some ways on how you can fund it:
- Downsize your living standards
Think about how much you can save if you make coffee at home instead of buying Starbucks coffee every single morning. A few dollars of savings may not seem like much, but they do add up over a period of time. Skimping on branded coffee is just one example of an expense that you can avoid, but there are practically a handful of ways you can significantly reduce your everyday spending by making more mindful lifestyle choices. Below are some ideas for your consideration:
- Sell your car and use a bike to get to work instead
- Cancel your gym membership or your Netflix subscription if you don’t use it as often as you’d like
- Cook 80% of your meals at home and only eat out on special occasions
- Cut back on drinking sprees
- Live with roommates instead of paying for a bachelor’s studio
You’d be surprised at how much you’d get to save by doing one or all of these. A $10 savings a day may not be worth much, but that’s enough to pay the cost for an entire night’s worth of rent in India or Thailand.
- Find cheap alternatives
Unless you’re a luxury traveler, traveling doesn’t have to cost you your life’s worth of savings. There are a few ways you can go about traveling for less. Just make sure you’re flexible and not picky about the airline you’re flying with and the free accommodations you’re going to get. That’s not to say that you should be sleeping in airport floors or doing three connecting flights to get to your destination of choice. It only means foregoing obvious luxuries such as extra legroom and your own private bathroom.
Here are some tips on how you can save on major travel expenses such as flights and accommodations:
- If your goal is to travel for a long period of time and from one continent to another, you can buy “round-the-world tickets” and save as much as $2,000 for all your flights.
- You can also apply for a credit card that allows you to earn miles for everyday expenditures. More and more banks are recognizing how appealing this is for the yuppie crowd, so you’ll surely be able to find one that earns you good benefits for your spending level.
- Use CouchSurfing.org to look for likeminded people who are willing to accommodate you in their homes. Apart from saving on accommodations, this is a good way for you to immerse yourself in the local culture.
- Become a member to WWOOF.org (World Wide Opportunities on Organic Farms) and get free meals and accommodations in exchange for a few hours’ of worth. The work can range from feeding llamas to picking strawberries.
- House sit via websites such as HouseCarers.com or MindMyHouse.com. This is especially great for travelers who are looking at staying in a place for a month or longer. You get free accommodation in exchange for keeping an eye on pets, gardens, and other chores.
However, as with everything you get yourself into, it is important that you do your research and trust your instincts. If something doesn’t feel right, it is best to dodge the situation and leave as soon as you can.
- Make money online
With the Internet and social media growing in popularity, many people can now make a decent living without having to leave the comfort of their homes. The reality is that the future of many jobs is online. This means that you can work practically in your PJ’s at an AirBnb in Paris or while sipping a fresh mango shake in the islands of Indonesia.
If you’re looking for profitable jobs online, here are a few ideas that are worth considering:
- For those who are good at languages, you can apply to become an independent translator online. You can also teach English to Korean and Japanese students online.
- Start a travel blog and make sure to churn out several posts a day to build up your following. Even if it takes a lot of work to make it happen, it will be worth it. Soon, you will even be getting paid advertising on your website, increasing your income from writing about your travels.
- If you are good with words, you can consider freelance writing, as well. It can really be a decent source of income, depending on the range of niche topics you can cover and how fast you can write them.
- Consider working on your dream destination
Working holiday visas allow foreign nationals of certain countries who are below the age of 30 to live and work legally in another country for a year. Countries that participate in this youth initiative include the States, Canada, New Zealand, Singapore and some parts of Europe. It is best to check if your country offers it, as it provides a promising option for you to relocate temporarily for a while.
Otherwise, you can always apply for a job in another country before you start your travels. If you pursue this route, the company will be arranging the working visa and will most likely pay you expatriation fees. Make sure to choose a company that is multinational and has experience in hiring foreigners. Regardless of your option, it is always best to check with the country’s embassy website and see what they recommend for working visas.
In the end, there are different ways for ordinary people like you and me to travel the world without blowing off all your savings. All it takes is a little bit of creativity and connections. Just make sure to do it legally, so you don’t run into problems with immigration and be refused entry to your destination of choice!