Jump to
Find Job Write Review
  • Find Job
  • Write Review
  • Account Login

    Forgot Password?
    Don't have an account? Signup

    Use a social account for faster login or easy registration.

    Log in with Facebook

    Account Registration

    Already have an account? Login

    Reset Password

    Remember your password? Login
Gigworker.com
  • Start Here
    Start HereWhat is the gig economy and how does it work?
    – Delivery Quickstart GuideThe basics of delivering food, groceries, and packages.
    – Lifestyle Quickstart GuideAn overview of lifestyle, care-related gigs.-
    – Lodging Quickstart GuideHow to get started renting your home on lodging platforms.
    – Freelancing Quickstart GuideHow to enter into the gig economy as a freelancer.
    – Rideshare Quickstart GuideThe basics of providing safe rides via rideshare services.
    – Tasks Quickstart GuideThe basics of making money performing common tasks.

  • Find Gigs
    SVG
    Browse All JobsBrowse all available gigs
    SVG
    Browse CompaniesBrowse all companies offering gigs

    Featured:

    1. Postmates Courier
    2. Instacart Shopper
    3. DoorDash Driver
    4. Uber Driver
    5. Lyft Driver

    Submit a Gig – list your gig on our gig marketplace
    Submit
  • Browse Companies
  • Read Content
    SVG
    App-Based GigsInformation for the Care, Delivery, Lifestyle, Lodging & Transportation sectors
    SVG
    Business AdviceHow to set up and run your own business as an independent contractor
    SVG
    FreelancingInformation for freelance consultants and gig workers
    SVG
    Reviews & RoundupsOur take on gig economy platforms, products, tools, and services
    SVG
    Side HustlesUnique and interesting ways to make money in the gig economy
    SVG
    NewsThe latest news and information about the gig economy

    Resources:

    • State of Remote Work in 2020
    • Stats About Remote Work
    • How An Increase in Remote Work Helps Employers
    • Why Gig Work Is Here To Stay for Good
    • Timeline of the Gig Economy

    Find Your Gig Today

    START HERE

  • Products & Training
    SVG
    Finance Accounting, finance, and funding
    SVG
    Products Essential products to get the job done
    Apps Smartphone apps to improve efficiency and earnings
    SVG
    Training Ebooks, courses, and certifications to advance your skills

  • Create Account
Home » Blog » Freelancing » 4 Steps to Surviving as a Digital Nomad

4 Steps to Surviving as a Digital Nomad

Being a remote worker has its advantages as well as its drawbacks, and it is necessary to consider all of them in order to see if it will be a transition that will benefit you. It’s very important to have a strong financial plan ready prior to becoming a digital nomad. The last thing that...

Brett Helling
Updated on November 2, 2020January 31, 2021
Share:
  • Share this on WhatsApp
  • Share this on FaceBook
  • Share this on Twitter

Being a remote worker has its advantages as well as its drawbacks, and it is necessary to consider all of them in order to see if it will be a transition that will benefit you. It’s very important to have a strong financial plan ready prior to becoming a digital nomad. The last thing that anyone needs is to be stuck overseas trying to make ends meet without a backup plan or any idea of how to keep their head above water.

That being stated, here are 4 steps that you should consider in order to stay on a solid financial footing if you’re seeking to live as a digital nomad.

Find an Inexpensive Location to Reside in

Having the flexibility and freedom to pick a location where the cost of living is significantly reduced is one of the best benefits of being a digital nomad. Instead of being restricted to where your workplace is, you can discover a place that fits you, as well as greatly reducing your expenses.

However, a major factor when considering where you live should be the overall quality and typical speed of the internet connection available to you. This suggests that you will most likely need to live in a metropolitan area as opposed to a more remote or rural location.

The good news is that because you don’t have a lot of belongings with you when you are on the go, you won’t require super-large accommodation, which is a major cost saver. Smaller-sized accommodation typically costs much less to rent, which will definitely reduce your monthly living expenses.

Always Buy Top-Quality Work Equipment

Buying high-quality equipment will always require larger upfront costs, but think of it as an investment, as it should last a long time. Also, when you buy better equipment, it means that you don’t have to spend time and even more money on frequent upgrades and troubleshooting tech issues. Quality electronic devices are an absolute must for digital nomads, the main ones being a reliable smartphone and a dependable laptop.

Know About Taxes

Remember that you still have to file taxes if you’re an American citizen, even though you’re based overseas. Even if you don’t owe the US government taxes, you’ll typically still have to at least file them with the IRS. It’s always best to err on the side of caution when it comes to your tax obligations in the United States. One wrong move can result in penalties, potential audits, and other headaches that you simply don’t need.

Create the Right Budget For Your Lifestyle

Putting aside a substantial amount of cash is a smart thing to do when you have any huge change that you’re going to make in your life, and becoming a remote worker is no exception. You need to be able to pay for moving costs, plane (or bus/train) tickets, possible vaccinations, and visas. You also need to scrape up the cash for your new apartment, including your first month’s rent deposit, or any other lodging accommodations.

Additionally, you’ll likely need to create some sort of financial safeguard in the event that the unforeseen happens. This fund should cover the price of a plane ticket home on a minute’s notice, temporary living expenses, and daily food and personal necessities. For example, you could lose a client, experience a drop in sales due to a recession, or have a medical emergency. You always want to plan for things like this.

It’s best to start with an estimation of what you believe your recurring living expenses will be so that you can make a practical month-to-month budget.

Living the life of a digital nomad can be extremely exciting and rewarding. Having a sound financial plan, quality equipment, and doing a bit of due diligence before traveling can make your transition much easier and help you recover faster if the unexpected happens.

  • Author Details
Brett Helling
Owner , Gigworker.com
Brett Helling is the owner of Gigworker.com. Since an early age, he has started business ventures and worked various side hustles in many different niches. He has been a rideshare driver since early 2012, having completed hundreds of trips for companies including Uber and Lyft. In 2014 he started a website to share his experiences with other drivers, which has now become Ridester.com. He is currently working on a book about working in the Gig Economy, expanding his skill set beyond the rideshare niche by building and growing Gigworker.com. As the site grows, his insights are regularly quoted by publications such as Forbes, Vice, CNBC, and more.
Web
https://bretthelling.com/
follow me

Tags

Recent Posts

  • Prevent Eye Strain While Working From Home
  • 10 Tips to Make Your Home Office a Productive Workspace
  • Guide to Rideshare and Food Delivery Driving on New Year’s Eve

Related Articles

How to Become a Freelance Writer
July 17, 2019

How To Become a Freelance Writer: A Step-By-Step Guide

A computer with coding language on the screen used by a freelancer
February 13, 2019

The 5 Best Freelance Websites for Finding Work Online

Person completing remote graphic design jobs
May 13, 2019

How to Find Remote Graphic Design Jobs

Post a comment

Cancel reply

Your email address will not be published. Required fields are marked *

ImageHow the Gig Economy…As of 2017, the Bureau of Labor Statistics reported that…
ImageThe State of Remote…Remote work isn’t new. Telecommuting has long been a part…
ImageAn Increase in Remote…Remote working, or telecommuting, has been around since the invention…
ImageWhy Remote and Gig…Working remotely — add it to the long list of…
ImageThe Ultimate Guide to…According to Upwork’s annual “Freelancing in America” study, it won’t be…
ImageThe 11 Best Cities…The gig economy is booming, but where is the best…
ImageWorking Remotely in a…We are entering the golden age of remote work. As…

Account

  • My Account
  • My Bookmarks

Company

  • About
  • Blog

Resources

  • Contact
  • Terms
  • Privacy

Featured

  • Basics
    Intro to The Gig Economy
  • Basics
    Gig Economy Timeline

Gigworker.com Copyright © 2020