A digital nomadic lifestyle is just that, a way of living that allows you to make money while exploring foreign countries. If this type of lifestyle is something that you want to experience, you have several viable options for getting started. However, to achieve success, first determine the reasons why you find living as a digital nomad appealing.
Although an exciting venture, a digital nomadic lifestyle is not without challenges. For example, to achieve your goal, you must remain productive, but because areas with available Wi-Fi tend to be public, you will find yourself in crowded places. If you can work efficiently, even when surrounded by a lot of people, this type of lifestyle offers excellent potential.
Visiting different countries allows you to have new experiences. With discipline and adequate financing, you can live and work virtually anywhere that you want. On the other hand, if you have discipline but not the needed funding, it is important to get your money situation under control before starting this adventure.
Financing Your Life as a Digital Nomad
Even with the best of intentions, packing up your laptop and heading out without the required funds could put you at risk. As a prime example, if you depend on finances from paying clients but, for some reason, those payments get delayed, you could find yourself without money to pay for hotel accommodations, a rental car, food, gas, and other incidentals.
To create a safety net on which you can build, considering securing a loan to finance your digital nomadic lifestyle. That way, you can enjoy working around the world, paying the lender back with money coming from your clients. Not only will a loan help you get started, it will also prevent you from facing a frustrating and even potentially dangerous situation regardless of where you go.
Establishing a Digital Nomadic Lifestyle
After securing the financing that you need, the next step involves selling your skills. Even if you have years of experience and unparalleled expertise, you still have to market your skills effectively. As an expert in your field, you can use your confidence to aid your preferred lifestyle. As someone highly motivated to travel the world, you can find clients online and in the different cities that you visit, creating a strong online and in-person presence.
As you travel around the globe, never feel shy about handing out business cards and networking. After all, you could encounter a profitable prospect when it is least expected. While you are aware that financial support is essential for a successful digital nomadic lifestyle, you may question how you will obtain the money that you need while in different foreign countries.
Financing While Overseas
Because loans vary from one country to another, your best option comes from applying for a loan from a company with a broad reach to multiple lenders. As a result, you can get the best terms and the lowest interest rate. Trying to secure a loan from a bank overseas will likely prove unsuccessful, especially if your stay in the respective country is short. In fact, with so many questionable things going on in the world today, some banks may view your loan request as suspicious.
On the other hand, by working with a reputable company that submits your loan application to several viable lenders, the chance of getting approved increases dramatically. As long as you have excellent credit, a verifiable steady income, and a permanent residence somewhere, most lending institutions will approve your loan request, thereby giving you the money needed to support your digital nomadic lifestyle.
Recommendations for Securing a Loan
Although financial experts recommend carrying just one loan at a time, if you need to take out a second loan, having excellent credit and a good payment history is to your advantage. If you have several loans, you can save money and keep up on the payments easier by refinancing. With a consolidation, all of your loans get rolled into one. What it comes down to is that to finance your travels, you have several options worth your consideration.
Initially, you might think that you need a lot of money to lead a digital nomadic lifestyle. In reality, you could get by on as little as $1,000 per month. However, by boosting your income, paying the loan back becomes easier and gives you added cushion.
Places Around the World You Can Visit
As part of living a digital nomadic lifestyle, you need to decide where to go. Fortunately, you have many incredible destinations to choose from, as long as you have access to Wi-Fi and affordable living. While there are many possibilities, just a few examples of places to consider include:
- Cape Town
For achieving your goal of becoming a successful digital nomad, you have unlimited options for destinations with beautiful scenery. While lounging in a hammock on some isolated beach sounds amazing, for working online, you will likely share office space or spend time at an internet café. Because of that, you need to spend time researching your options before jetting off to some foreign country. That way, you have a list of locations identified ahead of time.
Even a well-laid plan may not go as you expected, so if you find that one environment impedes your ability to work, you need a backup plan. When living as a digital nomad, you will quickly discover that you can work from multiple destinations without spending a fortune. At the same time, you will have new experiences and learn things that your hometown does not offer.
When traveling to various countries, you get to learn about the history and culture of each, not to mention the opportunity of learning foreign languages. As a digital nomad, you will see the world from an entirely different perspective than most people. Having the skills to work as you travel opens incredible doors of opportunity. In addition, with such an abundance of financing options, you will find that additional doors will open.