Thank you so much, Ruhee! I’m glad you found it useful. 🙂

Excellent post. This post really disclose the fact that financial preparation is very important component for sustaining the lifestyle. You said it right that without any financial plan, your ability to be a digital nomad and to financially sustain the lifestyle will be highly compromised.

Also its very important to financially plan our future and try to save more and more money. I genuinely love reading this article. Thanks a lot for sharing such a valuable information reading which will surely help all to learn and grow financially.
I will definitely share this article with my family and friends.

Wish you absolute luck and good day ahead!!!

Thanks,
Ruhee

Hi Andreas,
I do and don’t agree with this. I am 100% behind the idea of conscious spending, and how the cost of living while traveling full-time can be considerably less than when living in one place. And there are many ways to reduce expenses and get by on less. You and I have both proven this many times over!

That said, I believe the days of the “$5/day digital nomad” are coming to an end. For example, with so many countries offering digital nomad visas that require proof of income often in excess of $5,000 USD/month, immigration is likely going to scrutinize other digital nomads who don’t meet income qualifications who are trying to get in on tourist visas.

Also, it’s important to financially plan for our futures, and to save responsibly.
While I don’t condone making more money for the sheer sake of making more money, I think it’s important to pay attention to the income side of the equation these days more than ever.

The big gains are made by reducing expenses.

Hey Ron,
I’m with you on wishing I’d known about – and gotten into – digital nomad communities. That said, such things didn’t actually exist when I got started. 😉

Of course! And thank YOU for all you do.

That’s a good question, Nora. I’d have to say that being financially prepared as a digital nomad is challenging due to all of the misinformation out there telling you how you can live for unrealistic amounts of money when you actually budget everything the right way.

So I guess I knew about resources such as Numbeo and Expatistan back in the day. Not only that, but I wish I’d jumped into these online communities and asked the right questions prior to departure for better clarity.

Did that answer your question? 🙂

Thanks Ron – for the kind words as well as the share in your newsletter!
I’m curious: what is the #1 financial lesson you wish you knew before you started out as a digital nomad?

Cheers,

Ron