Living and working independently is a dream for many. So-called digital nomads are either self-employed or run their online business from a laptop and use their freedom to the fullest. No micromanaging from the boss, no subordinating pesky clients, no being forced to be in the office from 9am to 5pm and waiting weeks for the boss to approve your vacation. Just getting on a plane with your laptop and working from the beach is then easier said than done. So you might well spend three months in Thailand, another three in Bali, spend the summer in Germany and wind down the rest of the year in another warm country. More and more digital nomads are also criticizing the supposed dream life. Auslandskarriere highlights the most important aspects that you should thoroughly consider if you are toying with the idea of becoming a digital nomad and are about to quit your job.
Many digital nomads therefore take advantage of geoarbitrage.
Travelling around and exploring the world is great. This means earning your income in an economically stronger country or currency and living in a country with a significantly lower cost of living. Southeast Asia in particular is very popular with Digital Nomads as it is relatively cheap to live. Many Digital Nomads also split their year into two countries with a low cost of living and one country with a more expensive cost of living, just like Eat Pray Love. Many digital nomads therefore take advantage of geoarbitrage. So the question is not only which country suits you, but also how easy or difficult it is to get there in the first place. Unfortunately, in most cases, the whole thing comes with significant costs that have to be factored in. Changing locations every few months also means that you’re constantly on the lookout for cheap flights and suitable accommodation, as well as co-working spaces.
Sitting down and getting started is not always easy when working independently. Plus, in a co-working space, you can interact with other self-employed people and you’re not working all alone in a cave with no human contact. Not everyone can work in the same room you sleep in, and most people’s personal laptops are full of distractions that can keep you from working. Freelancing also often mixes your personal and work life, so you should try to separate this clearly from the start, otherwise you run the risk of working around the clock. To get into “work mode”, many digital nomads go to so-called work spaces, which you can rent for a day, several weeks or even months. A good co-working space has stable internet, external monitors, a coffee machine and everything you need to work.
This can be exhausting in the long run and also time consuming without generating income.
Most Digital Nomads start their journey as freelancers, but quickly realize that working on a contract basis means a certain level of dependency. This creates more security and more income. It is therefore important not to put all your eggs in one basket travel and make money as a digital nomad (https://gumroad.com/) build multiple income streams at the same time or one after the other. You don’t necessarily need a business plan, but you should think about a strategy for continually earning enough money to more than make ends meet. The OpenColleges have created a detailed guide on how to become a digital nomad, wie werde ich digitaler nomade in that the main point is to come up with a good plan. This can be exhausting in the long run and also time consuming without generating income. Constantly trying to find new jobs is almost like having to apply for a new job every day.