As of writing this, it has now been 5 months that I’ve been consistently traveling. One month to the day in South East Asia. Each decision that lead me to this point were all tough decisions and a bit of a leap of faith. Looking back on what all has transpired since embarking on this adventure I didn’t realize how each decision would gradually take me a step closer to realizing I’m able to see the world for months at a time.
First, a little more about myself; like most who make traveling work, I’m self-employed in the digital space. Meaning I can work from anywhere, at anytime. My business also works on a reoccurring revenue model. Meaning my sales are not transactional but our clients are what can be described as subscribers to our services. These are the unique parts that make seeing the world possible. I’m my own boss and I have a consistent revenue stream I can take with me. I also enjoy a fairly high standard of living, I’ll compromise, but I’m not going to travel and be uncomfortable. IE: I’m not staying in hostels, sleeping on couches, and only eating street food. Nor am I a guy with a huge backpack and a gallon of water hanging off it. I’m staying in Hotels of Airbnb’s, eating a few nice dinners a week, having cocktails on rooftops, and going to sponsored parties. I pay for luggage transfer services so I don't have to unnecessarily carry my stuff. A things if you are a true budget traveler, you can cut out.
Making money on the road is the hard part. In a lot of blogs that I read this point is almost always glossed over or not even touched on. I suspect the lack comes from a place of modesty. Its not an attractive read when the author talks about how lucky they are and how not everyone can do it. I’m not someone that is going to say; “yes, you too can do what I do”. But I’m also not going to tell everyone they have the ability. Fact of the matter, starting and maintaining a business is hard, and it’s not for everyone. Sometimes I wonder if its even for me! As I write this I’m staring down a invoice due date to a vendor I don’t have the cash to cover. But just because finding a revenue stream is hard, doesn’t mean it’s not possible. I just don’t like hearing other entrepreneurs telling masses self-employment is easy. Everyone needs to take an honest look at their capabilities, compare them to their ideas and apply the output to their respective market.
Back on topic, every other part of what it takes to travel for months on end is laid out and explained from every direction in blogs and magazines. Figuring out how to afford the places you want go is difficult and only comes with suggestions. From person to person, the road map is going to be wildly different. If you’re trying to figure out how you’re going to do it, my suggestion is to find a line of work that is consistent. If you’re able to detach from your boss and take your existing job with you, then do that. If not look for something that is on going, contracted work. Looking for new sales every months in it-self is difficult. Looking for new sales while trying to explore new places in a in different time zone is extra difficult. When it comes to earning a living, find the path of least resistance and take it. What I mean is, find a well that is deep enough to come back to. A German friend here has three different places online to look for quick jobs that pay instantly.
Point number one, figure out your income before you ever even book your first trip. I’ve talked to some people that took a lump sum and decided to go and stay gone until the money runs out. That is fine way to do things. Others I know, and myself, are able to work while traveling. Some are consultants who work on 3-6 month engagements that provides them with an income and others are freelance creatives drumming up projects here and there. The fact is; to travel you’re going to have to have money. In short, there are plenty of ways of you can make it happen, but just figure it out before you commit. Everything else in this post is about how to adjust your lifestyle to make your money go further.
Everyday I carve out time to run my company. In the mornings here in Bangkok is late night in New York. Day light is my favorite time of day. When I don’t make the most of my day light hours I feel unproductive and like I’ve wasted my limited amount of valuable time on earth. I wake up and do proactive things for my company. Sales activities, moving spreadsheets to Google docs, make that wrap-up report template I’ve been saying I wanted to do, re-writing my website, really just anything I don’t need clients for. I’ve blocked my calendar off from 1PM – 7PM EST as to not schedule to many in the middle of the night calls. Working this way provides me plenty of time to work in the morning, explore during the day, and work some in the evenings.
Now, a little more about my financial position. Unlike most, I don’t have a lot of cash to fall back on. I carry enough of a balance to afford a last minute plane ticket home and a second reserve of a few thousand dollars to get me out of any tough spots. What lead to my travels wasn’t a decision based in adventure of "I"m going to see the world". Meaning, the first goal wasn’t to go see the world. My first goal was to save more money, pay off some debts, and improve my company’s financial position. At first, I thought I would take a couple of months and live at my parents house in a small Georgia town and return to New York City in a few months. As that came into focus I realized there were problems with the concept. Primarily, I don’t own a car and living in rural Georgia, a car is must to get around. There are not buses or cabs to get you from A to B and sharing with my parents would just be a burdened on them. If I would have to buy a car, even a used car, then it would have made financial sense to just stay in New York.
This brings me to my first step of how I make extended travel work while on a budget. This year, I’ve only traveled to countries that are cheap. Colombia, India, and Thailand have all been really cheap. The list also goes on of places I could go; Cambodia, Vietnam, Central America. That is even before considering where I have friends I could stay with. There are places I want to go and see, but these places don’t fit in my central concept of spending less, while maintain my day-to-day lifestyle, than I would if I kept my life in New York. While writing this in Bangkok, I’ve rented a luxury apartment, rooftop pool and gym, for what would be 1/10 of the price of my New York apartment would cost. I eat lunch for $3.00 and dinner with a couple of beers for $12. Last week I rented a motorcycle and rode down to the coast for a week for less than I would have spent living at my parent’s house. The point is this; there are a lot of really beautiful, unique parts of the world that you can see for relatively cheap. Start with those parts of the world.
Another HUGE factor in making long term travel possible is wiliness to detach from things that keep you anchored. There was a George Clooney movie sometime ago, Up in the Air. In the movie part of George’s income was made speaking at conferences where he pushed a message of letting go of the things that hold you back. His messages was a little to far reaching as it included letting go of family and friends. But I do think there is a foundation in the message that I subscribe to. I was tied to an expensive high-rise apartment in New York that I didn’t really need. Letting go of that lease and putting my things in storage instantly decreased my everyday expenses by over 80%. I now have no rent, internet or electricity payments due every month. The money I’m not spending on everyday anchored life can now be rolled into my company along with plane tickets, hotels and meals abroad.
Money I’m not spending in New York or Georgia is also far more valuable abroad. The $30 I would spend at an average sushi restaurant near my NYC apartment for what would be just a quick meal I've had 100 times, that was nearby, has now become a totally new restaurant in a foreign city for $15. For half the price I’m now getting a wildly new experience and some of the best food I’ve ever eaten. While in Medellin, Natalie and I went to a very popular $$$$ restaurant and didn’t once consider prices. We ordered pre-dinner cocktails, appetizers, a bottle of wine and an entrée all for $80! Same applies to my living accommodations. While in Colombia I lived in beachfront hotels for ¼ of my monthly rent in New York.
While also traveling I’m also living by the same “budget” I lived by in NYC. In New York I focused on my daily spending and how each day added to the bottom line for the week. I knew what my budget was for the week and worked backwards from there. If I had an expensive dinner followed by a night out, then I wouldn’t take cabs for the rest of the week. This would decrease my daily spending so that I would come in under budget for the week. With some modifications, I’m doing the same while on the road. While I don’t have to be as frugal I still work towards what would be, relatively, an expensive week versus an inexpensive week. For example, I know this weekend is going to be expensive so for the past two days I’ve had cheap meals and cut out late nights.
My tips are simple. Make sure able to earn a living while traveling. Whatever path you find make sure it provides you with income you bring in while traveling. Detach from whatever is holding you back. To travel long-term it’s not very valuable to maintain an apartment/home, unless you’re rich. If you are rich this post isn’t for you. You're money will go further in other parts of the world. Lastly, mind your spending when traveling. Sure you might be able to afford the 5 star hotel, but the $100 you would save by going for the 4.5 star is a far more valuable $100 abroad. IE: the saying; “It’s only $100” doesn’t apply when in cheap countries.