How you make your money is more important than how much you make if the freedom of travelling around the world is your goal.
Having the ability to work from your laptop provides you with the flexibility to work from anywhere as long as you have an internet connection.
It’s important to take into consideration the cost of living in the places where you decide to travel/live in. My income from my laptop doesn’t change, however depending on where I choose to live or travel to, my expenses can change dramatically.
For example, one month of living expenses in Melbourne (where I grew up) would allow me to live in countries like Poland, Thailand, India, Turkey, etc for four to six months (and sometimes the quality of life was even higher than I had in Melbourne)!
Here’s How I Make My Money:
I currently have 4 sources of income which come from businesses I run, consulting on the side and a few passive income investments.
My philosophy in business is to ‘Automate or Delegate’.
Where ever possible I’ll use software and processes to automate a task and whenever I can’t then I’d delegate the tasks to someone else in a fair, win-win way. This allows me to quickly diversify my income sources and free up my time.
I usually spend about 2–3 hours a day working and every once in a while I’d take a few days off of work.
1. SaaS (Software as a Service):
This is by far my favourite source of income. We build apps on the Shopify platform: https://apps.shopify.com/partners/sellifyapps
You put in the work in the beginning to plan things out, build the software and then it runs on its own while allowing you to earn consistently through monthly subscriptions.
I’m not a programmer and have no coding knowledge, however I’ve partnered with friends to build this business.
2. Email, Facebook Ads & Article Writing:
I run marketing campaigns and set up automation's for a variety of businesses from eCommerce stores, meal delivery companies to music festivals and more.
I also have a team that writes articles and emails for other companies.
3. Business Consulting:
I jump on calls with my clients every once in a while to go over their finances and to advise them with strategies and growth for their business.
4. Dividends and interest from investments in Blockchain projects:
Blockchain is such a new technology that most people don’t quite understand it yet.
Several of the projects I’ve invested in pay out dividends which I mainly use to compound interest (if you’re not sure what compound interest means, look it up — it might just change your life), however I’ll sometimes convert some dividends/interests into fiat money that I use in everyday life (I rarely do this though).
If you’re familiar with the Blockchain and Cryptocurrency world then these are the projects that I’ve invested in and get little payouts from without actually doing anything:
- Tron (TRX)
- Cardano (ADA)
- Electroneum (ETN)
- Vechain (VET)
- Pundi X (NPXS)
- Icon (ICX)
Interesting Jobs That Allow For Remote Work:
I’ve either met people on my travels or have friends who sustain their location independent lifestyle through one of the below means of work:
- Teaching English or another language online
- Making income from AirBnB or property rentals
- Managing Instagram and Facebook content for brands and E-Commerce stores
- Provide a regular stream of fresh content for brand products (taking photos and making videos of their products in different locations and settings)
- Managing and responding to comments on Instagram, Facebook and email for brands and stores
- Virtual Assistant
- Customer Service for companies
- Creating subtitles in English and different languages for movies, TV shows and online videos
- Voice over recordings
- Writing articles for their favourite websites and blogs
- Online fitness coaching
- Accountants and lawyers who work remotely
- Selling licensed music to gyms, restaurants and cafes where the music is updated on a regular basis and fits the atmosphere of the venue (this one surprised me a lot and I had never thought about the music in gyms and restaurants being compiled and updated each month by someone who gets paid for it!)
- And many more…
The internet provides such a unique opportunity for people to work remotely!
Want to know how to travel the world on a budget?
To live a life of freedom where you can travel and work in your own time, you don’t really need to be earning as much as you may think, in fact I’ve met many people who travel and explore the world full time that earn between $800 — $1000 USD per month and live comfortable lives (even those from countries such as Philippines, India, Vietnam, etc)
I myself live comfortably in most parts of the world and usually spend between $500 USD — $1250 USD per month depending on where I stay.
Read my 9th tip about my F.A.T method in this article here: 14 Tips Every Digital Nomad Should Know