Is it Really Possible to Make Money While Traveling?
If you’re plugged into millennial culture at all, then you know that there’s a huge desire for work-life balance. More specifically, we’re a generation of people who don’t want to be 100 percent defined by our work or careers. We want the freedom to live life, explore new places, and pursue our passions.
But can we be honest for a moment? Money makes the world go round. Wanting to travel is great, but it’s not practical without having an income. But that can feel like a catch-22 at times. You need to work to travel, but when you work you don’t have time to travel.
Or do you?
A certain percentage of millennials seem to have cracked the code and discovered how to make money while traveling. And it’s a whole lot more practical than you might think.
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5 Ways to Make Money While Traveling
The first step is to set your goals and expectations. There are two very different schools of thought when it comes to traveling and making money. It’s important that you know which bucket you fall into:
- Bucket #1: Make enough money to break-even on travel expenses. In other words, if it costs you $5,000 per month to travel, you need to make $5,000 per month. You’re not trying to save money for the future. It’s all about sustaining your current lifestyle.
- Bucket #2: Continue to save, invest, and build wealth while also traveling. With this method, you’re thinking about both the short-term and the long-term. When you stop traveling and return home, you want to make sure you’ve saved and invested so that you don’t have to start from zero.
Regardless of which bucket you would put yourself into, it’s possible to travel and achieve your goals. Just make sure you’re clear on what those goals are ahead of time.
Here are several suggestions for making money while traveling:
If you already have a fairly decent sized social media following or travel blog, you might be able to convince certain brands and companies to pay you for featuring their content. If nothing else, you should be able to score some free gear and travel perks (like airline tickets, luggage, snacks and meals, etc.)
If you don’t already have a large following, stick this one in your back pocket and use it as a goal to work toward. Begin sharing content of your travels and actively work on attracting more followers. Before too long, you could have the numbers needed to secure some deals.
Do you have a skill that you can monetize on a gig website like Fiverr or Upwork? Good examples include copywriting, web design, programming, graphic design, accounting, and consulting.
The great thing about gigs is that they’re scalable (and they work on your schedule). If you need to grind and make some money for a week, you can hole up in your room and take on several jobs at once. But if you know there’s a week or two where you’ll primarily be adventuring, you can turn down gigs.
Real Estate Investments
If you have the cash to do so, consider investing in real estate back home. Buying a couple of rental properties can give you several hundred dollars in monthly cash flow (perhaps more, depending on the market). Best of all, these are pretty much hands-off. Just hire a property manager to oversee the day-to-day operations of the property and wait for the cash to hit your bank account each month.
In many foreign countries, there are opportunities for travelers to teach English as a second language and get paid for their time. Not only does this help generate some income, but you’ll also find other folks who are doing the same thing as you. This is a great way to find some friends and community while you’re “on the road.”
This isn’t the best option – and it really only works if you’re a super outgoing and gregarious person who has a skill that people will pay for – but it is an option. Whether it’s playing music, singing, doing magic tricks, or some other skill, you could make some good money with street performances. It’s just a matter of whether or not you want to spend most of your time doing this.
Finding Your Way
Every situation is different. It’s up to you to zero in on your skillset and leverage the resources you have. And when you strategically combine those with creativity and ambition, you should be able to utilize some of the tips and methods highlighted in this article. Good luck…and safe travels!
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