Frugal living for digital nomads: how to save money and achieve financial freedom faster
So you want to be a digital nomad, but you don't know how to live frugally while traveling? Don't worry, I've got your back. Over the years as a digital nomad, I've learned how to be financially responsible—and it's not as hard as you might think!
Save money on food
You can save money on food by buying groceries in bulk, cooking at home, eating at home, buying food from local markets and eating ethnic food. If you're looking for even more savings try eating vegetarian or vegan.
Work from home and avoid traveling
If you're a digital nomad, this is an excellent opportunity to save money and achieve financial freedom faster. Why? Because if you work from home, or even if you stay in one place for a while (like I did), it's much cheaper than traveling around. Plus, there are plenty of ways that being stationary can help boost your productivity as well!
The first thing I did was buy myself an ergonomic chair and desk set-up that would allow me to work comfortably for hours at a time. It was important because I didn't want my back hurting after sitting at my computer all day--it would've been counterproductive! Next up came food: instead of going out every day with friends and colleagues during lunch breaks or after work hours (which could get expensive), I started making my own meals at home using ingredients found in local supermarkets near where we lived (this saved us lots). Then there were things like rent/mortgage payments; since our apartment wasn't very big anyway (and neither were its utilities), we decided not worry about them too much either...
Rent out your apartment
If you're not going to be in your apartment for an extended period of time, why not rent it out? You can use sites like Airbnb or HomeAway to get started. Just make sure that you have a good understanding of what your rental costs will be before agreeing to host anyone in your home. For example: if they want to stay at my place while I'm gone for two weeks, I charge $500 per week plus taxes and cleaning fees (which are usually around $150 per week).
This isn't something I recommend doing right away since there is some risk involved--but if you have an extra room in your house and don't mind having strangers live there while you're gone then this could be a great way for frugal digital nomads like myself save money on accommodation costs!
Mooch off friends and family
If you're making friends with people who live in the city you are visiting, they will be happy to help out with your transportation and accommodation.
If you don't have many friends or family members living in your destination city, ask them for recommendations on places to stay and things to do. They may even be able to host you at their place!
Get a second job or freelance gig to earn extra cash
You can also get a second job or freelance gig, which is another way to earn an extra income. If you're not looking for a full-time career change and just want to make some extra cash on the side, this is probably your best bet.
If you live in a big city with lots of freelance work opportunities (e.g., New York City), then there are plenty of websites where employers post their jobs and freelancers bid on them (e.g., Guru). You can search these sites by category--for example, "writing" or "photography"--or even filter by location if you're only interested in local gigs.
If there aren't any good options available locally and/or online, why not start your own business? It may sound scary but it doesn't have to be! You could try selling products like clothing or jewelry via Etsy or eBay; providing services such as tutoring lessons; running workshops/seminars at schools; etcetera - there really are endless possibilities here depending on what kind of skillset(s) you have developed over time through experience living abroad while traveling abroad full time like most digital nomads do nowadays...
Travel frugally by staying in hostels and couch surfing
Stay in hostels.
Couch surf.
If you're traveling by plane, look for cheap flights and discount codes. You can also try to find last minute deals or travel deals on social media and websites like Groupon or LivingSocial.
Use public transportation instead of renting a car or buying a plane ticket
If you're considering renting a car, think again. Public transportation can be cheaper, faster and more convenient than renting a car. By taking public transportation instead of renting a car, you'll save money and time while reducing your carbon footprint.
This is especially true for long-term travelers who want to see as much of their destination as possible--and who don't mind taking the bus or train (or even walking) between destinations.
It is possible to live a frugal lifestyle while living abroad.
A frugal lifestyle is not the same as being cheap. It's about being smart with your money, making the best choices possible and enjoying life to its fullest while still saving money.
I've lived abroad for several years now, so I know that traveling can be expensive! But there are ways to save money on your travels without sacrificing too much fun or comfort along the way. In fact, I recommend frugal living for digital nomads because it allows you to achieve financial freedom faster than if you were spending all of your earnings on travel expenses alone (and let's face it--traveling isn't nearly as fun when you're broke).
If you're looking to live abroad, it's important that you make sure your finances are in order. You don't want to find yourself struggling financially when all you want is to enjoy life! By following these tips and tricks, we guarantee that you will be able to save money while traveling around the world.
