There are a lot of people that are becoming very interested in living as a digital nomad and traveling the world. It’s an adventurous way of life as you go from one exotic location to the next. There is no limit to where you can go and how long you can live this way. As long as you have an internet connection and a way to make money remotely then the world is your oyster.
The problem that many people face is getting started. There are a lot of questions to ask before setting out. One of the most common is how much it will cost to live as a digital nomad. In this article, we will go over what the typical costs are for living as a digital nomad.
1 – Housing
The biggest wildcard as far as costs go is how much to expect to pay when you are a digital nomad is the cost of housing. Many people will stay a month at a time for usually one to three or four months before moving on to the next destination. You will need a short-term rental to house you during this time.
There are some countries where this is going to be extremely inexpensive and others that are more. For instance, what you would expect to pay in Colombia is going to be much less than apartments for rent North York in Canada will be.
There are variations in price for the type of property it is, so you can expect to pay anything between bare-bones essential on a budget compared to luxurious for those who don’t mind spending the money.
2 – Transportation
Your second biggest expense is going to be getting from one destination to another. Transportation can also be quite expensive as you may need to fly and there aren’t many discount airlines operating to that destination. On the other side of the spectrum, you may be close enough to the next destination that you are able to take the train or even a bus and save tons of money that way.
The key is to understand your budget so you can plan your destinations wisely. For instance, if you are traveling on a shoestring then pick destinations that are close by. Picking a destination that is far away will cost more to get to by airplane.
3 – Insurance
It is very important to have health insurance and even some form of travel insurance. Keeping yourself healthy is a priority when traveling so having insurance is crucial to make sure that you are covered in case you get sick or in an accident.
It is also practical to have since some countries will only issue a visa if you are covered by health insurance. Many countries have public insurance that is covered by taxes. Since you won’t be able to access this insurance, they want to be sure you won’t be a burden in case you are ill.