How I Make Money While Traveling the World Full-Time
A few days ago, I started a conversation about money.
I told you what I budget for while traveling and what I pay for things like health insurance, website hosting, phone bills, and housing. And I tried to give a little perspective.
Because, when it comes to travel, we often think we need more money than we really do. And it just so happens that I spend an equal or lesser amount of money traveling than I did when I lived full-time in Colorado.
I hope that post was helpful (and if you haven’t read it and are interested in on-the-road finances, may I suggest that you give it a read?).
Today I wanted to continue the conversation. Because there’s another side of my traveling-the-world-full-time-on-a-budget coin…and that side is income.
How does a full-time nomad make a living?
Now, lots of nomads save up their money, take a year off (or six months off or two years off) to travel the world, and then return to their home base to pick up another job.
If you’ve been following me for a while, you know that my case was a little different.
With about a year and a half of self-employment under my belt before I left to travel, I took my existing income stream with me on the road.
At the time, that income stream was a business called Content for Do-Gooders. The idea was this: I provided content strategy, copy writing, web writing, and other content-related services to companies with a conscience. Some of them were non-profits. Others were just for-profits with soul, companies and agencies that liked working with someone who gave 10% of her profits back into charity.
When I started the business, I’d been working with words in one form or another (off and on) for about 10 years and I’d been working for an ad agency (and then an internal corporate ad department) as a full-time copy writer/content strategist for about three and a half years.
I ran this business out of my little ranch house in central Denver for a year(ish), working with clients in Florida, Colorado, Mexico, and various other American and Central American locations. And by the time I was ready to travel, I was already working with a number of long-term clients and making about as much as I had been while working full-time.
In other words, I had already been self-employed for a while and I was in a stable holding pattern with the business when I picked up and left the states.
Still, it was scary to take the business on the road. I still had all sorts of fears about my clients ditching me or my pool of prospective clients growing smaller. In fact, I only planned one month of my travels at a time because I wanted to be able to, at a moment’s notice, fly back across the ocean and resume business as usual, just in case things started to head south.
Happily, what I found was the exact opposite. Being in Europe, five to eight hours ahead of my clients, meant that I was suddenly wildly productive. No one bothered me in the mornings (my most productive time), because they were all asleep. And by the time they woke up, like magic, I had delivered their finished product via email.
I also found that I continued to make contacts and meet prospective clients at a fast clip. In fact, I met more prospects while I was traveling. And soon I was working for companies on two continents, making a living in multiple currencies, and working with people who saw life in a similar way.
That first year or so on the road, I didn’t make tons more money than I was in the US, but I did hold steady. If you look at my tax returns in 2011, 2012 (when I first started traveling mid-year), and soon 2013, they all look pretty darn similar.
Changing careers on the road
As many of you know, in 2013 I waved a friendly farewell to Content for Do-Gooders and started devoting myself full-time to travel and inspirational writing.
When I “quit” my business, I already had a couple of online and print publications that I was working with on a regular basis. I also opted to keep two of my old clients who still fit in with my new vision (both were clients that I was writing articles for in my own voice and with my own byline, just about content and marketing rather than travel) and who would help me make at least a little money each month while I was getting my new career on its feet.
That said, my monthly income did dip below my break-even point for the first few months, but appears to be starting to build. (My goal is to be at least breaking even by March.)
And, for me, making this career change while traveling feels the same as (actually, scratch that: feels better than) making a change while in the states. My expenses are equal to or less than my US living expenses. Just like when I started my business, I made this change with a handful of clients/publications already in hand. And, in my case, since travel and inspirational writing is the dream career, being abroad is actually a big help.
Things I do to keep my business profitable on the road
Okay. So hopefully that answers the super common question about how I make my living while traveling. I thought it might be helpful to end with some concrete things I did/do in order to keep my business running smoothly while on the road. As always, keep in mind that my way isn’t the way.
1. I started a business with my existing skills and contacts and made sure I had a financial buffer in place while I got it up and running.
2. I waited until I was nearly breaking even before I quit my full-time job and I waited until I was more than breaking even before I started traveling.
3. I travel slowly and prioritize my work. (If you travel too quick, your life becomes a series of either-ors; either I can explore Paris or I can make my deadline; better to travel slow and do both.)
4. I live my life normally on the road, budgeting like I normally would, dealing with slow or fast months like I normally would, learning to balance work and life against a backdrop of cobblestones, white-sand beaches, or jagged peaks.
5. I consider every acquaintance and new friend a potential contact and I talk about what I’m doing business-wise. A lot. You never know when you’re meeting an amazing interview subject, editor, or new client.
6. I weigh the value of opportunities against the cost in energy, happiness, and time. After a few months of freelancing, you start to be able to spot the tough clients a mile away. And if you know that client is going to demand a lot of your time, reassurance, energy, etc., make sure you are feeling up to the challenge and that you’re getting paid enough to give that client what they need.
So, there you have it. Two businesses (though not too dissimilar in skill sets, of course) run from the road. One absolutely profitable and sustainable and one I’m hoping will be soon. Any questions? Anything you wish I covered that I just haven’t yet?
Did this post help you? Share the love by:
:: Buying a copy of my Italy, France, Switzerland, Paris, Barcelona, or Prague guides (already have one? Gift another to a friend!)
:: Clicking here before you make your next Amazon order (it doesn’t matter what you order, if you start by clicking from my site, I’ll get a commission!)
Comments
-
-
Libby Walkup
This is only marginally related but I’ve recently (the last twelve hours) been wondering what you recommend for bank accounts/credit cards for international travelers? (Or if you know of an essay already published.) how to avoid fees and such. Cheers! Great post.
-
-
lee
the clean new design is lovely, easy to read.
you already know you are one of the only bloggers i follow weekly since you speak in real time, do not brag that you have been and done everything and often speak what i am thinking!finances: interesting, i am doing the reverse having worked for a lifetime and using a budget on what i can spend and then finding where i can go with that budget…. i may never be paid for what i do but I can not put a price on the rewards this life is offering… so keep writing, i am sure your many readers also wait for each post.
-
Catherine
Thanks for sharing, love the tips of keeping the business profitable, think they’re quite widely applicable!
-
Andreas Moser
I also find the slow travelling important. I usually pick a place for 6 or 12 months and make it my base for exploring the country and maybe the neighbouring countries. Renting an apartment or a room in a shared flat for a month often doesn’t cost more than renting a hotel for a few nights.
I once put together my thoughts on exactly this subject: http://andreasmoser.wordpress.com/2013/01/09/how-do-you-finance-your-travels/
-
Micamyx|Senyorita
Very nice and clean design! I agree with you on the travel slowly part. If you keep on moving, you’ll end up hating your trip and worse, losing your focus on an important project.
-
Ali
Love the new look of your site!
We seem to still be struggling with the “travel slow” thing. I think the trip we’re currently on has been a big eye-opener, and we’ll be making some changes to how we plan things in the future. It’s way too hard to work and travel at even a mildly fast pace.
-
Rebecca
I like it but, hate having to scroll so much to read your blog. Thanks for the improvement I know it is not easy to revamp a blog site.
-
Kate Cosgrove
Great article & love all the concrete practical advice! Thank you for sharing what you are learning along the way.
-
Victoria
Thank you! It’s always good to hear about how other people are doing things! Good luck with it all, and congratulations on the visa!
-
Sheldon
Actually yes I do have a question! I’ve recently awoken to the fact that there is an entire world out there and that the 9-5-work-till-you-die-cause-that’s-what-success-is is a bunch of crap. I’m looking to get out there and check out some really cool stuff.
My problem is about making money while on the road. I’m curious as to how you made money while in other countries. Don’t you need a Visa for that?
If I make t-shirts in Canada (where I’m from) and sell them to Canadians while I’m physically in some other country, I think that is legal and that I don’t need a Visa (please correct me if I’m wrong). But if I started to sell to people in the country where I’m travelling to, isn’t that different?
-
Jo Richards
Thank you for your informative write-up. I am currently upskilling myself to work nomadically and found this extremely helpful.
Making sure on travels slowly seems like it would really help the experience. I could imagine having to race around the world at lightspeed while working would be completely overwhelming and stressful.
Melissa K
Love the new design