How much are the usual earnings of a digital nomad? (aka how much are you making?)
I feel most earn only $1000 to $2000 and spend it ALL on travelling. I don’t think thats mentally and financially sustainable.
How much are the usual earnings of a digital nomad? (aka how much are you making?)
I feel most earn only $1000 to $2000 and spend it ALL on travelling. I don’t think thats mentally and financially sustainable.
I don’t know any actual long-term nomad who is only making so little. If someone is just taking an extended gap year then it doesn’t matter much and it is better than blowing through savings. I would say median of people I know ~$5k with way, way higher upper-end.
I was making around $2,000 CAD a month ten years ago and that was okay for travelling half the year. Now I’m around $5,000 CAD a month that while working much less and can stay in nicer places.
I currently make $4,500 CAD in my Web Dev Job. I’m gonna be traveling for 4 months across Europe this winter and was wondering what kind of lifestyle did $5000 CAD afford you while traveling? I’m also thinking of transitioning into freelance so how did you get started? Thanks
I’ve been travelling with a partner recently, so the costs are shared. I’d likely stay in cheaper countries, for longer periods of time to get better accommodation rates otherwise, which is what I used to do. This last trip, we were eating out most of the time, but there was often a breakfast buffet or we’d get snacks or make sandwiches.
Staying away from the more expensive countries and focusing on the cheaper places in central and eastern Europe lets you stretch that money way further. I used to try not to spend more than $60 / night when in hotels while on my own but that isn’t too feasible anymore unfortunately if you are staying shorter durations. So a bunch of your income is going to go towards accommodation now. You may get better deals with AirBnb, but I try to steer clear of them now unless they’re a private room in someone’s house as I don’t feel comfortable with how much this and similar platforms have affecting housing affordability, with certain people having multiple listings in a city.
I’ve been freelance in the video production sector for ages, doing odd paid gigs since 2003. It was slow going, was location-dependent, and wasn’t paid great. Eventually I was recommended for a web development job with a steady client with good pay in 2012, and I could do the work remotely, so I did. A few years later, another video production contact got in touch with me and tried my work out on-location before moving remote, then I got another programming client through them a few years after that. And a possible fourth steady video production client through that relation as well.
New clients pay better than the old ones, but there’s a learning curve, more complexity, and you never know if it’s going to work out. But you need to diversify in case an older client’s work slowly starts to drop off (which has happened with the first client). The older clients tend to be way more hands-off and let you do what you want and they’ll know your work well enough to recommend you to others, so it’s usually a good idea to keep them and keep in touch. Mind you, all of these steady remote clients came to me directly or indirectly from classmates in college, so making sure your friends, family, and acquaintances know when you’re looking for more work is incredibly important.
Something important to keep in mind is $4,500 income is more like $3,500 after taxes and CPP are factored in. I’d look into accommodations based around that budget. Maybe sprinkle in some hostels when you’re first visiting an area, so you meet new people and explore together, and keep your accommodation costs lower. And look for hostels that have kitchen facilities.
Let me know if you have any other questions. I’m happy to help.