How Do Digital Nomads Make Money
Times are changing, and gone are the days of being tied down to material objects, or one’s home town. As technology makes the world smaller, resources and adventures across the globe are suddenly within reach.
Surrendering the stability of a known job and environment is on a steep incline. More and more individuals are giving in to temptation and seeking opportunities to travel and live in exotic locations, to soak up a new cultures, and to live for experiences rather than a mundane routine.
While a nomadic lifestyle may not be ideal for all families, this change of heart is not just for youth or singles. Stressful jobs, long commutes and the multitude of challenges life throws at us, all contribute to the burning desire for change.
Well “how do digital nomads make money?” you may ask. First you must figure out how to use your skills to provide a service or product that people want or need. Some of the more popular ways digital nomads earn location-independent income are:
• Drop shipping products
• Writing for blogs
• Selling photographs
• Promoting products through Etsy
• Opening an Ebay store
• Earning money through YouTube videos
• Creating and selling a course through Udemy
These ideas are just the tip of the iceberg. There are many more possibilities. Think out of the box because you are only limited by your imagination.
If you decide to purse this path, you must be prepared for the good and the bad. It could mean a lower cost and thus higher standard of living, exposure to locales replete with centuries of cultural heritage, and new relationships in which one thrives.
For those ready to dive in, here are some suggestions to get you on your way:
Commitment and motivation
Nomads must be self-starters. There may be tough times ahead while you find your niche and settle into some sort of normalcy, and during that time your commitment and motivation to your move will be tried and tested. Be ready to persevere and slowly ploW through. A good place to start, would be to research your chosen location and network on social media; familiarizing yourself with individuals, opportunities and the local culture.
Manage your finances
Travel even for a short while can be expensive, so when you quit your job and venture forth in search of your dream, expect it to pinch the pocket! You definitely want to start with as clean a slate as possible. Minimize your debt and liabilities; pay off credit cards and either sell (if necessary) or rent your home for some potential side income. Make sure you have some liquidity along the way.
Employ technology! Post your email address on LinkedIn, Facebook and multiple job sites. If you’re worried about privacy, create a new account. If you’re comfortable, share your cell phone number as well. Tools like Skype and WhatsApp can be hugely beneficial to reach loved ones and acquaintances alike.
Only you know who you are taking along or leaving behind. Moves like this are easier for smaller families but can be equally rewarding for larger ones. If you are leaving behind aged parents make sure there is someone to care for them. For pets, consider giving them to another loving family. Before you embark, you must be at peace with the situation you are living behind.
If you truly want to be a nomad, you have to adopt a minimalist lifestyle. Declutter physically and emotionally letting go of unnecessary baggage and burdens. Possessions that can be disposed of, should be to provide some added liquidity. For others, store them safely. You will need the basics, but excess will only slow you down.
Remember the home you put on rent; hopefully its doing more than paying off your mortgage, and is providing a little side income. Either way, find ways to earn along the way to keep you going. Once again, make technology work for you. Whether you’re a writer, a photographer, or an artist; whatever your passion, make it pay the bills.
Be prepared for anything!
Now you have enough information to now go out there and make money as a digital nomad. Stand tall, brush off all the inhibitions and preconceptions. Take a deep breath and welcome your new life. Your mindset and attitude will determine the outcome.