Starting off as a digital nomad can be quite a challenge. Make your life as a newbie full-time traveler easier by following an experienced nomad’s tips on how to get along with a limited digital nomad budget and still live the life you have always dreamed of.
First things first: You definitely don’t need a lot of money to follow this lifestyle. But before you get on that one-way flight to the destination you’ve been dreaming of for so many months, you should make sure to learn about all the budget-friendly digital nomad tools and hacks for saving time and money while increasing productivity.
The digital nomad lifestyle sounds like a dream come true for everyone currently stuck in a cubicle. Working from anywhere, on your owntime, however, comes with a whole set of new challenges. So to be perfectly prepared, make sure to also read our guide on how to get started as a digital nomad!
A world-traveling nomad of three years, I’ve got so many country stamps in my passport that I can barely keep track of my adventures – luckily, there is Instagram to document the journey! Unfortunately, social media doesn’t always (or should we be honest and say never?) show the whole picture.
Hard times, failures and the really tough challenges aren’t shared. The truth is, many digital nomads give up after only a few months into the adventure of location independence and return home. Of course, this can be due to a bunch of reasons. Bad money management is, however, is among the most common ones.
To make your first months easier, I am happy to share my favorite tips with you! I only wish I would have had such a handy guide before I started my journey …
Here are our 10 travel tips for a tight digital nomad budget – and all those who like to invest their money in smart ways!
10.) Choose The Right Destination for Your Budget
Budapest, Hungary; Bucharest, Romania; Chiang Mai, Thailand; Taipei, Taiwan; and Ubud, Bali, are all great places to start when you’re on a tight digital nomad budget. They are all easy and relatively cheap to get to and have a low cost of living. Looking to spend less than $30 a day? Then start with those cities!
💵 Cost of living: $1,150/mo.
🏠 1 bedroom studio rent in city center: $541/mo.
🏢 Coworking: $167/mo.
☕ Coffee: $1.35
💵 Cost of living for expat: $954/mo.
1 bedroom studio rent in city center: $388/mo.
🏢 Coworking: $129/mo.
☕ Coffee: $2.05
💵 Cost of living: $744/mo.
🏠 1 bedroom studio rent in city center: $362/mo.
🏢 Coworking: $110/mo.
☕ Coffee: $2.32
💵 Cost of living for expat: $1,252/mo.
🏠 1 bedroom studio rent in city center: $672/mo.
🏢 Coworking: $193/mo.
☕ Coffee: $3.46
💵 Cost of living for expat: $829/mo.
🏠 1 bedroom studio rent in city center: $429/mo.
🏢 Coworking: $262/mo.
☕ Coffee: $1.79
* Source: Nomadlist.com (as of 05/15/2018)
9.) Save Money Before You Leave
This no-brainer should actually be listed on top of this guide! Although it’s not necessarily helping you to save money on the road, it’s a piece of financial advice that will prevent you from having to pack up and go home before your journey has even begun.
Having a comfortable cushion of $$$ in your bank account will help you through tough times, when you’re dealing with difficult clients or are facing unforeseen expenses, such as a visit to the doctor.