Cheap Living Tips for the Budget-Conscious Digital Nomad

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Are you dreaming of becoming a digital nomad? Don’t neglect your finances. Find out what strategies digital nomads can follow to stay on budget. [[{“value”:”

Being a digital nomad is an ideal lifestyle for many who enjoy exploring the world. It can be exciting moving from place to place while making a living. If you’re new to this lifestyle or are exploring becoming a digital nomad, it’s essential to consider how your finances will change.

You want to take extra care to make decisions that make you feel financially secure in your daily life. Otherwise, you may feel added stress that can quickly make this alternative lifestyle choice less enjoyable. I’ll share a few cheap living tips for digital nomads to help you prepare.

Pack light

By packing light, you can save money and make it easier to travel between destinations. No one likes paying checked bag fees, but many airlines charge them now. These additional fees can add up if you fly between destinations often. If you have yet to start your digital nomad adventure, it’s wise to pack a simple wardrobe to stretch your travel budget further.

Get a credit card with no foreign transaction fees

If you plan to travel internationally as a digital nomad, you can save money by getting a credit card with no foreign transaction fees. Some credit card issuers charge 3% for every purchase made in another currency. The costs can add up quickly if you have a credit card that charges foreign transaction fees. That’s why having a credit card without such fees is wise.

If you use your credit card for everyday purchases and spend $18,000 yearly on purchases in foreign currencies, you’ll pay nearly $550 a year in extra fees. Budget-friendly digital nomads apply for travel credit cards without these fees. These credit cards can also provide valuable rewards and benefits that improve your travel experience.

Eat like a local

It can be exciting to try new foods when visiting new-to-you destinations. But if you go out to eat and drink for every meal, you can quickly deplete your checking account funds.

Digital nomads who eat like locals can better keep their spending in check. Consider buying fresh produce and other goods at farmer’s markets, and get familiar with the grocery stores in your neighborhood. Preparing some of your meals at home can help you stay on budget.

Dining out sometimes is OK — it’s part of the travel experience. But always keep your budget in mind. Otherwise, you may spend more than anticipated. If you need help following and setting a budget, check out our list of the best budgeting apps.

Don’t overpay for data or wifi

Many digital nomads need a reliable internet connection to do their work. If you plan to purchase wifi or use data on your mobile phone, ensure you’re not overpaying. You’ll likely overpay if you continue using your mobile phone plan from the United States while traveling abroad.

Airalo is one option for mobile data if you have a phone with e-sim capabilities. You can buy local e-sim packages to get access to more affordable data. You can also tether your laptop to your personal mobile phone hotspot through an e-sim package purchased through Airalo.

When looking at accommodation options, consider whether wifi is included if you plan to work from home. You can also explore other low-cost internet-access solutions, such as co-working spaces. But if you plan to use wifi a business provides, ensure you show your support, like buying coffee while working at a local coffee shop.

Join local groups on social media for insider tips

Social media groups are an excellent place to meet others with similar lifestyles. To keep your spending in check, you can join digital nomad groups to gather financial tips from experienced digital nomads. You can also join local groups to connect with people in your local community. Learning more about local activities, events, and businesses can help you make more informed spending decisions to keep more money in the bank.

Are you seeking additional financial tips to help you navigate the digital nomad lifestyle? Check out our personal finance resources.

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