How do nomads make money?
10 TIPS ON HOW DIGITAL NOMADS CAN MAKE MONEY
WHAT DO NOMADS DO FOR A LIVING?
Are you wondering “how do nomads make money?” Well, this guide will help. Nomads refer to people moving from one location to another as a way of life. Digital nomads are people who work remotely from anywhere in the world. They only rely on the internet and technology to earn money. The nomad lifestyle is full of freedom and flexibility.
They can travel to their dream destinations any time of the year and still earn passive income. Making money and exploring different places of the world at the same time is what defines the nomad lifestyle.
HOW MUCH DO NOMADS MAKE
The amount of money earned by nomads entirely depends on industry, experience, and strategies to find work. Studies say that a digital nomad can make an average of $74,000 a year when working at full potential.
However, you can make as much as you want. You only need to understand different tips for creating successful income streams. The amount of money you will earn will depend on your availability and the number of hours you work in a day.
DO NOMADS HAVE TO PAY TAXES?
It’s the responsibility of income earners to pay taxes to governments. Nomads earn money while travelling, so the country of residence has the right to demand taxes. Different countries have different laws that nomads ought to respect.
A nomad should get familiar with the tax by-laws of the destination country to avoid confusion and rivalry with the government.
For US residents, whether working as a nomad in the US or outside the border, you are supposed to declare your digital income by filling out the US Federal Tax Return.
HOW MUCH MONEY DO YOU NEED TO BE A NOMAD?
The amount of money needed to start working remotely as a nomad solely depends on the type of life you wish to live. If luxury is a factor, then you need more cash. When starting, you must first consider your basic needs and working mechanisms as you do your budgeting.
Consider your food, accommodation, and travel expenses as basic needs. Estimate the amount required to fully cater to the need for a whole year before your income flow becomes consistent—research the cost of each in the places you want to visit.
Internet and technology costs are equally important as they are essential working tools to enhance money earning. After choosing the type of digital work industry, you want to join, research the software needed and their cost to be safe.
$300 will be an excellent basis to start by living just a comfortable life. But how do nomads make money?
There are quite a good number of tips on how a digital nomad can make money. The tip choice will depend on passion, experience, and qualifications. Read through the following ten tips and get what fits you to start getting digital nomad jobs.
1. Freelance writer or transcriber
Freelancing means working remotely for different companies at the same time. Here, you are not an employee of any company, but you get to work for clients on contracts in the short term or the long term.
Freelance writing is fulfilling if you have a passion for working online remotely as you explore different places in the world. You have all the freedom as no one controls how and when you work. You can choose specific niches to be writing on or write across all. The most marketable niches are technology, health, finance, and lifestyle.
Online writing is a good fit if you are good at grammar, research, and composing unique content. Clients always look for valuable articles, blogs, essays, website landing pages, instruction manuals, short stories, and advertisements. You can also write newsletters, press releases, speeches, and reports remotely and earn your livelihood.
To start as a freelance writer, you must train or enrol online. You will find helpful guides on getting started as a freelance writer on the internet. Once you learn all the dynamics of freelance writing, it’s good for you.
Once you learn how to write valuable and brilliant content, you need to know how to use your skills to earn money. There are many freelance writing sites where you can camp and fish clients. You write content for clients and get paid per word.
Another way of earning remotely as a freelance writer under this category is by transcribing, and transcribers translate spoken messages to written text using the same language or a different one. Transcribing needs typing speed, language fluency, and paying attention to every detail. Knowing other languages like French makes transcription more valuable.
2. Virtual Assistant
A virtual assistant offers administrative assistance to clients remotely. Virtual assistants have the opportunity to enjoy working from anywhere and earn smartly. But how do nomads make money with virtual assistance? You only need skills, the internet, and a laptop to work as a virtual assistant while still visiting different places of choice. Here, a virtual assistant will fully achieve nomad life.
Only language and administrative skills are needed to join the virtual assistants club. Organizational skills include computer proficiency, time management, and decision-making. Running an office errand online as you explore places is incredible and satisfying.
As a nomad, you work for international clients on a contract basis as a secretary giving businesses administrative support. Virtual assistants’ duties include planning meetings, scheduling appointments, sending and replying to emails, and making phone calls.
If you decide to work as a remote secretary, you will become the link between the company and its stakeholders. Virtual assistance is one of the most successful tips on how nomads make money.
To become a successful virtual assistant, you may need to train to gain practical know-how. After training, you need to look for ways of monetizing the skills.
3. Graphic design
It doesn’t require you to be present to work for a client in person. As a graphic designer, one can adopt a nomad lifestyle and earn a good amount of money.
Wondering how do nomads make money in web design? If you have the required skill set, experience, and expertise in web design and making logos, you have an excellent opportunity to work remotely. Companies hire experienced web designers to develop and maintain their websites. It means you can work part-time for many companies at the same time.
Its specialization will help you find work efficiently as a freelancer. You will be responsible for designing catalogues, brochures, magazines, and reports for companies online. Finding graphic design work is easy. You only need relevant skills and computer software to start working from home.
Take time and learn how to become a freelancer designer. You will gain the full potential to become a full-time nomad by learning. You will enjoy practising your skills online and earning. You can find designer freelancing jobs on freelancing sites and job boards.
Remotely working in the industry offers unlimited freedom to schedule working plans. They have all the powers as they are not employees of any company.
4. Social media management
The universe is growing technologically, and it’s already a global village. Companies market their products and services through social media passages. Social media helps companies gain and reach out to more audiences compared to traditional ways.
Celebrities and politicians also hire part-time freelancers to post for them and react to fans’ comments, as they are always busy serving different goals.
It’s possible to work for different companies or celebrities simultaneously while living anywhere in the world. Posting and replying to comments and reactions on behave of a company, celebrity or politician professionally needs good communication skills.
Becoming an excellent social media manager should be the first step toward becoming a successful digital nomad. To find work as a social media manager, you must check job boards. A lot of jobs get advertised daily, so visit job boards regularly.
Social media managers tend to be good marketers. You should have marketing skills to be considered a perfect fit to manage clients’ accounts.
A blogger is someone who writes valuable articles targeting different audiences. Posting blogs on niches like health, finance, lifestyle, fitness, technology, and property development can become your source of income.
One of the best ways to make money as a nomad is by starting a blog. To be a successful blogger, you need your website. Follow the steps of creating a website, from choosing a web host until it’s up and running. Then, start writing SEO-optimized content that will rank high on search engines, thus attracting a lot of readers. SEO content can appear first in the rank where results show up.
A blog needs monetization to start earning remotely. You can make it through Ads. People will be paying for advertisements on your blog. Clients go looking for high-ranked blogs on search engines so that they can pay for advertising. Creating and running a successful blog means a good reader flow. It makes advertisers pay for their ads to keep popping as readers go through a piece of your writing. One of the ad networks you can give a try is google.
You can start a blog for affiliate marketing where you review the products and services of different companies. In the blog, you include affiliate links leading to the seller’s website. If a purchase is made by following the link in the blog, you earn a commission from the seller.
Another way to earn passive income as a blogger is by getting readers to subscribe to your blog. The subscriber’s method is for blogs that have an active community. If people get assurance of high-quality content in your blog, they will gladly subscribe, and you will earn handsomely from home.
Tutoring people online to be successful bloggers at a fee is another way of using blogging for nomad survival.
You can gather information and write blogs on trending hot topics that will attract traffic to your site.
6. Teaching English.
English is taking shape as a common language across all countries. Trained English teachers take the stage to become nomads. If you like travelling and are also a passionate English tutor, this is the best option for how nomads make money.
Tutoring or teaching English online is perfect, as you can serve your clients worldwide. The beautiful thing about it is the freedom that comes with it. In this field, if you work extra hard, you can earn good clean money.
The industry is large and has untapped opportunities for online English tutors. The workflow is admirable. Having English teaching or tutoring certifications is a must when joining the online industry.
Do you have a degree in English teaching and enjoy travelling as a hobby? It’s a golden opportunity to become a digital English tutor. You can fit here even without prior teaching experience. The demand for virtual English tutors has been increasing; apply for online advertised jobs and start working from the comfort of anywhere you might be visiting.
To become an excellent online English teacher, follow the guides on the internet and learn how to get those jobs. Schedule online teaching classes to fit your needs and lifestyle.
You can start tutoring your local language to interested foreigners such as tourists.
7. Forex trading
It is the selling and buying of currencies. Forex trading is common when purchasing or selling products across the border. Forex prices keep fluctuating upwards or downward by the flash of a minute.
Do you know you can earn through Forex trading? The difference is the profit if you buy a currency for speculation purposes and sell it at a higher price. Forex trading is a perfect example of digital remote work for nomads. You can trade Forex from anywhere around the world.
However, Forex trading is challenging, and you need in-depth knowledge of finance, market operations, and the technology used. It’s a hazardous venture, so trading strategies have to be adopted. Without the necessary procedure, there is a possibility of huge losses.
Suppose you are interested in working remotely as a Forex trader, train on how the market operates and the terminologies used. Forex is a profitable online venture but only with the right skills and knowledge.
After training and becoming knowledgeable, open a brokerage account to trade. Forex traders control their accounts and use all strategies learned to earn margins. Nomads do Forex trading from the comfort of their homes or away from home.
It is an industry that is fast growing and gaining popularity among nomads. With the correct trading plans, freelancers earn enough money to sustain their livelihoods just like any other full-time job, sometimes even more.
8. YouTube channel
YouTube is a platform where users share their videos. With a YouTube channel, you can quickly get subscribers who will always watch the video you share. YouTube was just for fun initially, but now you can easily monetize your account and earn.
YouTube videos on life hacks, songs, comedy, cartoon-themed kid’s videos, and so on are best-selling. They tend to gather a lot of views. With a good number of subscribers, your high-quality videos will help you afford a nomad life. YouTube is a good income stream for digital nomads through ads, affiliate marketing, or working as an influencer. Monetizing YouTube channels is one of the best ways to earn passive income.
YouTube has a good flow of users searching different videos, such as how to cook different cuisines and how to operate various machines. If you are good at making people laugh, capitalize on the talent remotely on YouTube.
For life coaches, you can offer helpful life tips on how to deal with life situations like grief, failure, heartbreaks, and rejection. Such kind of content attracts a good number of views.
9. Consultancy services
People who have skills and knowledge offer consultancy services to clients online. Medical personnel, accountants, psychologists, and other professionals are finding it sustainable to work remotely.
For instance, you can offer your services to companies worldwide if you are a registered accountant. The venture is very marketable, profitable, and fulfilling. You have an opportunity to practice your career at the same time visiting different places.
The consultancy services provider is a business with a support system but not available full-time. It makes a good strategy for how nomads make money. With this kind of online venture offering superb services, you have the potential to attract long-term clients to serve remotely.
Create a website where clients can book and pay for your services. It is possible to offer your services from the beach and still deliver.
You might be wondering, “how do nomads make money through photography?” well, travellers like taking photos for memories, but only a few know how to use them to make money. You visit beautiful places and take pictures, then sell them to interested parties for a fee.
As you travel and explore adventure, you can come across unique and fantastic historical sites. Take beautiful photos and sell them to photography websites such as Shutterstock.
There are several practical tips on how nomads make money while travelling to explore different places. Gauge your skills and see among the ten tips which digital nomad job fits you. Nomad life is possible, but always consider your earnings regarding travel expenses. The tips above are not get-rich-quick schemes. Handwork and consistency are the keys.
FAQ How to make money as a digital nomad?
Do digital nomads make a lot of money?
This varies a lot from profession to profession but digital nomads usually go to the best countries for digital nomads, where they pay less taxes and the quality is low compared to their country, for example, many Americans go to live in Spain looking for a cheap city to live.
How do I start living as a digital nomad?
To start living as a nomad you only need to have a job that allows you to work remotely, look for clients who need your services…
Final conclusions to become digital nomads
Being a digital nomad is difficult, the most important thing of all is to have a skill that pays you for it remotely, there are many designers, programmers, writers, data analyst… Working remotely and living in a cheaper country so you can work less. The important thing is to find the balance and be able to enjoy your time while working. If you have any questions or doubts, we will be happy to help you.