Is the Digital Nomad Life for you?

Is the Digital Nomad Life for you?

By Steve Owbridge

Are you tired of the 9-to-5 grind? Dreaming of a life where you can travel the world while still earning a living? If so, then the digital nomad life might be just what you're looking for. But before you take the plunge into this exciting lifestyle, it's important to ask yourself: is the digital nomad life for you?

But before that perhaps I will share a small part of my story…I am from the UK originally, but right now, I live with my wife Isabel and our youngest son Micah on the tropical island paradise of Mauritius in the Indian Ocean. With its picture postcard white sandy beaches with overhanging palm trees, for us, it really is a living a dream.We used to live a pretty 'normal' life but after events happened in our lives we made the decision that instead of only working for the future we would do that but also live for now, we decided to live in the present and enjoy the journey more. We made the decison to try travelleing and worlking from abroad and after have not looked back since. Dreams start in your imagination, "think it, talk it do it" as I say in my book Mindset Skillset.

Now, this may not be your dream, maybe you prefer the dry heat and history of Egypt or the snowy slopes of Switzerland but whatever your dream, maybe the digital nomad life can help you realise it.

 What is a Digital Nomad?

A digital nomad is someone who uses technology to work remotely and live a location-independent lifestyle. Instead of being tied down to a physical office, digital nomads have the freedom to work from anywhere in the world as long as they have a stable internet connection (hence the digital part). This lifestyle allows them to travel and explore different countries and cultures while still earning an income.

 Pros and Cons of the Digital Nomad lifestyle

Like any lifestyle choice, the digital nomad life has its pros and cons. Let's start with the advantages. One of the biggest benefits of being a digital nomad is the freedom and flexibility it offers. You have the ability to choose where and when you work (allowing for time differences), allowing you to design your own schedule and create a work-life balance that suits you. This flexibility also means you can travel and explore new places without having to worry about taking time off from work. In our family we call it “Holi-Work”. We work normal hours in our businesses but then when we are not working, evening and weekends rather than sit and watch TV or do the typical weekend shop etc we are on holiday so we do things we might do such as kayaking, site seeing, boat trips etc.

Another advantage is the opportunity to experience different cultures and environments. As a digital nomad, you have the chance to immerse yourself in new countries, learn about different traditions, and meet people from all walks of life. This can be incredibly enriching and broaden your horizons in ways that a traditional office job may not.

It is important to consider the challenges that come with the digital nomad lifestyle. There are definitely some home comforts and routines that you can miss, well at least at the start anyway. One of the main difficulties for us was having less “stuff” basically living out of suitcases. This was hard at first but eventually became a positive as we realised, we actually didn’t need that much anyway and it has been quite a liberating experience.

Constantly moving from one place to another can disrupt your daily habits and make it harder to establish a consistent work routine. Sometimes you can feel loneliness and isolation that can come from being away from friends and family for extended periods of time but if you engage in online groups and communities, you should find meeting people easy to do. There are so many other people doing the same as you that are looking to meet people too.

 How to become a Digital Nomad

 If the digital nomad life sounds appealing to you and you're ready to embark on this journey, here are some steps to help you get started.

The first step is to assess your current skills and determine if they are transferable to remote work or if there may be business or opportunity that may lend itself to this new lifestyle.

Next, you'll need to create a plan for transitioning to the digital nomad lifestyle. This includes figuring out your financial situation and how you'll support yourself while traveling.

Consider your budget, savings, and any potential sources of income. It's important to have a solid financial plan in place before taking the leap.

 Managing Finances as a Digital Nomad

Managing your finances as a digital nomad is a crucial aspect of the lifestyle. It's important to be financially savvy and plan for the future. Here are some tips to help you manage your finances as a digital nomad:

1. Create a budget: Track your income and expenses to get a clear picture of your financial situation. Allocate funds for travel, accommodation, food, transportation, and other essential expenses. Set aside a portion of your earnings for savings and emergencies.
2. Save before you go: Before embarking on your digital nomad adventure, save up enough money to cover your initial expenses. This will give you a financial cushion and peace of mind as you transition into the lifestyle.
3. Consider multiple sources of income: Relying on a single source of income can be risky. Explore different income streams such as freelancing, online consulting, passive income, or creating digital products. Diversifying your income can provide stability and mitigate financial risks.
4. Digital banking system: Choose a bank that offers convenient online banking services and international transfers. Consider opening a multi-currency account to manage different currencies and reduce transaction fees. Online accounts such as Revolut and Starling make this quite easy as you can hold different currencies to maximise exchange rates without exchange fees in some cases.
5. Research tax obligations: As a digital nomad, your tax situation can be complex. Research the tax laws of your home country and the countries you plan to visit or work in. Consider consulting with a tax professional to ensure compliance and optimize your tax situation.
6. Insure Yourself: It’s important to protect yourself so that should you have a medical emergency, lost luggage or legal issues whilst abroad you have insurance in place to cover you. Explore the many options and as the old boxing adage goes “Protect Yourself at all Time”

Remember, financial planning and discipline are key to maintaining a sustainable digital nomad lifestyle. Stay organized and stay on top of your finances to avoid unnecessary stress and financial pitfalls.

 Choosing the right destinations for digital nomads

One of the perks of being a digital nomad is the opportunity to travel and explore different destinations. However, not all places are created equal when it comes to the digital nomad lifestyle. Here are some factors to consider when choosing your destinations:

1. Internet connectivity: Reliable and fast internet is crucial for remote work. Research the quality of internet connections in your chosen destinations. Look for coworking spaces or cafes with reliable Wi-Fi if you prefer working outside of your accommodation.
2. Cost of living: Consider the cost of living in different destinations. Some places may offer a lower cost of living, allowing you to stretch your budget and potentially save more money. However, keep in mind that cheaper destinations may have fewer amenities or a lower standard of living.
3. Safety and security: Your safety should always be a top priority. Research the safety of your chosen destinations, including crime rates, political stability, and healthcare facilities. Check travel advisories and take necessary precautions to ensure your well-being.
4. Visa requirements: Different countries have different visa requirements for digital nomads. Research the visa policies of your chosen destinations and ensure you have the necessary documentation to legally work and stay in each country. For example if you are European you can travel all over Europe without and issues but if you’re from the UK due to Brexit and the rules of the Schengen Zone, you can only stay in this zone for a maximum of 90 days within a 180 period. As we are from the UK, we had to plan to be in Spain for no more than 90 days then go to a non-Schengen country such as Cyprus until we reached the time when we could go back into the zone again. This was made easier by including a few trips back to the UK to visit family and bridge the travel visa gaps.
5. Lifestyle and culture: Consider the lifestyle and culture of your chosen destinations. Think about your personal preferences, interests, and the activities you enjoy. Do you prefer a fast-paced city or a tranquil beach town? Do you want to immerse yourself in a specific culture or explore a variety of cultures?

Remember, each destination has its own unique advantages and challenges. Consider your personal preferences, work requirements, and lifestyle goals when choosing your digital nomad destinations.

Tips for staying productive while traveling

Maintaining productivity while traveling can be a challenge for digital nomads. Here are some tips to help you stay focused and productive:

1. Establish a routine: Create a daily routine that includes dedicated work hours. Set specific times for work, breaks, and leisure activities. Having a routine can help you stay organized and maintain a sense of structure.
2. Find a suitable workspace: While traveling, it's important to find a workspace where you can concentrate and be productive. Look for coworking spaces, libraries, or quiet cafes with a conducive work environment. If you prefer working from your accommodation, look for accommodations with an allocated workspace like a desk or office space.
3. Minimize distractions: Identify and eliminate potential distractions that can hinder your productivity. Turn off social media notifications, put your phone on silent mode, and use website blockers to limit access to time-wasting websites.
4. Prioritize tasks: Make a to-do list or use a project management tool to prioritize your tasks. Focus on the most important and urgent tasks first, and break them down into smaller, manageable steps. This will help you stay organized and ensure you're making progress towards your goals.
5. Take care of your well-being: Your physical and mental well-being directly impact your productivity. Get enough sleep, eat well, exercise regularly, and take breaks to recharge. Practice mindfulness or meditation to reduce stress and improve focus.
6. Time management techniques: Explore different time management techniques such as the Pomodoro Technique or time blocking. These strategies can help you stay focused and make the most out of your work hours. For a free course on Time hacking to maximise your time you can download the ‘Mindset Skillset’ App for free on iOS or Android.

Remember, finding the right balance between work and leisure is essential for long-term productivity and well-being. Embrace the flexibility of the digital nomad lifestyle, but also stay disciplined and committed to your work.

 Conclusion: Is the Digital Nomad life right for you?

In conclusion, the digital nomad lifestyle offers a unique blend of freedom, flexibility, and adventure. It provides an opportunity to explore the world while still earning a living.

However, it's not for everyone. Before diving into the digital nomad life, it's important to assess your skills, consider the pros and cons, and be prepared for the challenges that come with this lifestyle.

If you're self-disciplined, adaptable, and have strong communication skills, the digital nomad life may be a perfect fit for you. Take the time to plan, acquire the necessary skills, and build a strong foundation before embarking on this journey. With the right mindset and preparation, you can create a fulfilling and successful career as a digital nomad. So, if you're ready to escape the traditional office and embrace a life of freedom and adventure, the digital nomad life might just be for you.