Quick Plug: My company, Nomad Impact Ventures is hiring aspiring entrepreneurs who are interested in starting a business while working remotely or traveling the world (apply here).
I’ve been meaning to write this post for a while because people keep asking me how they can also make money while traveling the world. If you like this post, please let me know because it will motivate me to create more posts like this!
The most important detail in all of this is that because the cost of living is so much lower in many international cities, you only need to make about 1/3 of what you make in the U.S. to live a similar lifestyle. You can comfortably travel the world on about $1,500-2,000/month (and even less if you’re in Asia or stay in places longer-term).
There is already so much great information out there so instead of creating a guide from scratch, I’ve put together a list of all of the best free resources I could find. It took me about eight hours to put this together – hope you find this helpful!
Warnings about Affiliate Links and Courses:
There are ZERO affiliate links in this list. You should know that most of the people writing the content that I linked to make money off of affiliate links or by trying to convince you to buy a course. While this practice is fine because it supports content creators, please keep in mind that many people are giving advice based on financial incentives, not necessarily what is best.
1. Get A Remote Job
Contrary to popular belief you don’t need to start a business in order to make money while traveling the world. Getting a job that will let you work from anywhere is by far the easiest way to become location independent.
Common Remote Jobs:
The Best Remote Job Board:
My favorite job board is Jobspresso because it’s curated, high quality jobs.
Most Popular Remote Job Boards (Based on Web Traffic):
2. Become A Freelancer
I’ve met a wide variety of freelancers who travel while making money online. Most of the people that I meet who do this have a small list of reliable clients with ongoing work.
If you don’t have regular clients, then you’ll likely spend a lot of time and energy hunting for new clients – a big reason why some people prefer a stable remote job.
Common Freelance Fields:
-Marketing / PR
The Best Freelancing Guides:
A List of 100 Other Freelance Jobs (Data Entry, Transcription, Writing, Editing/Proofreading, Virtual Assistant, Accounting, Translation, Test Scoring, Support, Social Media Monitoring)
The Largest Freelancing Marketplace:
3. Teach English Online (Native Speakers Only)
I’ve met a lot of English teachers while traveling because online English teachers make $16-24/hour and you can easily travel around the world on ~$1,500/month. This means you can likely comfortably survive working about 94 hours per month as a teacher.
If you’re a current resident of the US or Canada, you have informal teaching experience, and you have a college degree, then you qualify to apply to be an English teacher at VIPKid.
VIPKid seems to be the most popular English teaching platform. It’s a multi-billion dollar company that teaches Chinese students English
4. Start a Business
I’ll cover the three most popular digital nomad businesses (affiliate, Amazon FBA, and drop-shipping). These are all popular because they have high earning potential and are relatively passive, meaning they don’t require much day to day work.
If you’re looking for a guide on how to start a traditional startup, then let me know and maybe I’ll write that :).
A. Create an Affiliate Website/Blog
An affiliate website is a website that gets paid to refer people to other websites where those people buy things. Any website that links you to Amazon products, e-courses, or any other purchasable thing is most likely an affiliate website.
The Best Affiliate Guides:
B. Start an Amazon FBA Business:
An Amazon FBA (Fulfillment by Amazon) business is where you manufacture or acquire products in bulk (frequently on Alibaba.com), ship them to an Amazon warehouse, and then sell those products through Amazon Prime.
This is a very popular business with travelers because once the products are at Amazon’s warehouse, the business doesn’t necessarily require a lot of day to day work.
The Best FBA Guide:
JungleScout’s YouTube Channel – has hundreds of hours of content about every aspect of Amazon FBA plus it has real, step by step case studies
C. Launch a Dropshipping Website
Dropshipping is selling someone else’s products (on your own website or on a marketplace like eBay or Amazon) and then when a consumer buys from you, you buy from the supplier or retailer and ship the product directly to the end customer.
The most popular version of this is people who set up a Shopify store where they sell AliExpress products at 2-8x of the AliExpress price.
The Best Dropshipping Guides:
5. Become an Instagram (or YouTube) Influencer
If you’re a great photographer, are extremely attractive (or are both!) then this is a lot easier than it might seem to be. I’m pretty sure that Bali, where I’m living now has the most Instagrammers per capita of anywhere in the world.
The formula for Instagram is relatively simple:
- Create amazing content
- Use a growth service (like mine 🙂 ) to quickly grow your account by 2-5k real followers per month
- Watch videos to learn the tips and tricks of Instagram
- After getting to 20-50k+ followers, get paid by brands and travel companies to do sponsored posts
Here are three great resources on becoming YouTube famous:
One Bonus Resource:
Chris The Freelancer also created a fantastic guide to working online while traveling so I would recommend checking out his list as well!
That’s all folks, hope you found this valuable! Feel free to contact me if you have any questions or want to chat about this.