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5 useful tips for planning your finances as a digital nomad

The freedom that comes with becoming a digital nomad is by no means without its challenges. The more independence you have, the greater your responsibilities become, especially in terms of ensuring your own financial security and long-term stability. While the current circumstances are preventing travel in its original sense, wherever you find yourself freelancing and working remotely, you know that you need to work hard to build up your professional presence and ensure a steady income.

However, while inspiring more clients to come your way is one method that will increase your budget, you should also consider the various ways to reduce your expenses, too. Refining your spending habits and making sure you are investing in all the right aspects of your business will allow you to save up and spend more wisely for months and years to come.

Increase your productivity

It might seem counterintuitive right off the bat, but if you invest in high-quality tech to run your business effectively, which means perhaps you’ll need to spend a little more, you’ll actually save in the long run. How? By avoiding costly repairs, part replacements, upgrades, and the like. You should invest in productivity-boosting tech and essential travel gadgets that will let you do your work seamlessly, and earn a decent living.

For instance, storing your work and copies of your most vital documents on an external drive will increase your data security. Then again, using quality headphones will allow you to work without distractions, and a power bank will prevent depleting your battery when you’re working at a coffee shop without your regular charger. Such investments will let you become a more productive digital nomad, thus allowing you to earn more down the line and provide work of exceptional quality. 

Create a budget plan

Do you have a clear overview of your spending habits, earning potential, and your future spending needs depending on your travel plans? If not, you risk losing money on expensive airlines, costly accommodation, and other spending items that could ruin your budget. 

Before you actually spend and invest, make sure that you create your budget plan, be it on your computer, with the help of an app, or on a piece of paper. The more thorough you get, the easier it will become for you to spot gaps in your budget and find more cost-effective alternatives for your spending. 

Use credit cards with perks

When you need to spend, you should do so by relying on a credit card that has all the right perks. Nowadays, digital nomads can choose from a wide array of benefits that can help you simplify your travel itinerary and significantly reduce your expenses. 

Out of many loyalty programs, you can use a credit card with free luggage that lets you either pick up a free bag with enough collected points, or you can have a checked bag free of charge when you travel. Such programs often boast additional and similar benefits too, such as discounts with specific brands. This is a brilliant strategy to reduce the costs of your nomad lifestyle while still traveling comfortably. 

Build up your little nest egg

The fact that a little can go such a long way is particularly true when it comes to finances. You might not be accustomed to setting aside a sum of money on a regular basis, but that is precisely what you need to do in order to ensure greater stability. 

For starters, if you’re on the go and working for various clients, you can set up an account online with digital payment providers as opposed to a local bank. However, make sure that you don’t dip into that account every time you purchase items online – the key is to treat that money as if it doesn’t exist. 

Meal-planning saves the day

Typically, most digital nomads opt for a freelancing career as opposed to the fixed, 9-to-5 mindset that limits their movements and professional relationships. What that means is that you might lack the routine in your life that adds more financial stability too, perhaps especially in the kitchen. If you rely on takeout food, fast food, and eating out (in regular circumstances, that is), then you’re likely spending more than necessary. 

Meal-prepping is a perfect, yet simple way to reduce your everyday expenses. You can find the most affordable grocery stores wherever you’re staying and then prepare your meals well in advance. That will prevent you from too many pricey orders and let you save up for more relevant expenses.


Your daily habits and your long-term perception of your career and lifestyle can help you become more frugal with your earnings. This will let you stay safe during crises such as the one we’re currently experiencing globally, and it will allow you to build up a secure financial future for all your needs and professional aspirations. Being a digital nomad is far from an easy feat, so planning your finances is vital for your success, especially today.