Cost of living as a digital nomad

One of the most frequent questions I get is “how do I afford to travel so much” so let’s dig into my expenses!

Cost of living as a digital nomad in Asia

When I was staying in Indonesia, I spent three months living in Lombok and stayed at a hostel for the entire duration because I loved it there…

The hostel I stayed at was:

Bamba – the best hostel in Kuta, Lombok!

So many amazing beaches close by

You can stay an entire month there for around 400$

The breakfast there is included and it’s amazing – there’s a cool swimming pool but more importantly, I love the team that works there, I made so many friends, and would even consider the staff family ๐Ÿ™‚

That being said, if you are on a really strict budget, you can find cheaper, especially if you are willing to negotiate once you are there and go to smaller less well known hostels

Food wise, you can eat for 2$ per meal, but if you’re going to want to have something else than local dishes then it can go up, maybe even as high as 5 to 10$ but you don’t need to treat yourself as a king all the time so let’s say a 12$ average per day (that’s a lot) including coffee and beers?

So let’s say 350$ – which can easily be more or less depending on your lifestyle once again

A scooter rental was 5$ per day if I remember correctly so 150$ per month

Fuel + parking (when needed) could add up to maybe 30$ per month

That’s all you really need

400+350+150+30 = 930

With less than 1,000$

you can (easily) live in Lombok, Indonesia

But… That’s not including day trips if you want to rent a boat, if you want to go surfing, if you want to go trekking and need a guide, etc etc, so in the end it will cost you more – maybe even up to 500$ if you really want to go for it ๐Ÿ™‚

So 1.5k and you’re set

From that you’ll need to add plane tickets tho

You also need to keep money on the side to pay your taxes, don’t make them wait, it’s not worth playing with them, especially if you run an online business!

So the truth is,

you’ll probably need to make more than 2k per month


Cost of Living in London

Now, I’m currently in London, so let’s compare ๐Ÿ™‚

First off, let me start with:

DON’T STAY IN A HOSTEL IN LONDON

They’re fine if you are staying a few days, but more than that you’ll definitely want to use Airbnb – you want to remain productive while in London, and hostels here aren’t that great because there’s no privacy and not much space to do any work

yep that’s my affiliate link, but let’s be serious, if you don’t have an airbnb account are you coming from Mars?

In my case, the Airbnb is costing me about 1.2k per month, sure I could’ve found something cheaper, but I believe it’s better to stay in a decent place where I can work & cook (without burning the apartment down) than be too cheap

I’ve got a cool view from my Airbnb tho!

I really don’t want to look into how much I’ve spent on coffee, so let’s say that food + coffee + a few drinks ended up around 500$ for the month (wouldn’t be too surprised if it was more)

Probably spent 150$ on “public” transport

So with 1.8k I’ve got my basic living expenses

Then obviously if you want to eat in restaurants, go out and party, visit the UK (the train is bloody expensive), go to museums and all that it’s going to end up being more expensive

So you could live in London on 2k per month if you want a basic lifestyle

If you want something more fun, expect that number to rise very quickly, especially if you want to live in the center of London (I’m in Zone 2 to reduce the cost of rent, no need to commute into the city every day so might as well save money!)

You’ll also need to take into account taxes once again…

So the truth is,

you’ll probably need to make more than 3k per month


The digital nomad lifestlye

So to answer, how much does the digital nomad lifestyle cost:

IT DEPENDS ON YOU.

It depends on where you go

It depends on your standards

It depends if you are going to travel around

It depends on what food you’re eating

If you want to party

If you have loads of taxes to pay

Or you can start hitch hiking around the world and be a true nomad, even better, get yourself a camel, an Indiana Jones hat and hit the road

If you are willing to sleep outside in the nature it will be cheaper, same for a hut, if you want to stay in five star hotels tho… It’ll be different!


I hope that answers your questions!

Sorry I couldn’t give a straight answer but it depends entirely on you!

If you liked this post, it would mean the world to me if you could leave a like ๐Ÿ™‚

Onwards!

Being a DIGITAL NOMAD….

Let’s talk about the highlight, the downside and once there, what happens?

Let me start with, it’s pretty amazing – I mean it. We usually define a digital nomad as someone that works remotely to earn a living and are able to travel whenever/wherever they wish. Sounds pretty amazing if you ask me… But yep, there are downsides!

The highlight:

You get to travel (duh that’s pretty obvious Max…) to places you’ve always wanted to go – well I still want to go to Mars but apparently there’s no wifi there… One day ๐Ÿ™‚

I mean Mars isn’t even on this map neither is the Moon ๐Ÿ™‚ and I clearly need to do more of Africa & Asia

Traveling to new places is the highlight not because of the new location, but more about the people and experiences (read that as the memories you make). You won’t remember everything about your trips, that’s for sure.

Afterall,

Memories is the only thing we keep.

Life isn’t only about FOREX or affiliate marketing or copy writting or whatever. Do you remember all the trades you took a year ago? I don’t that’s for sure – but do I remember renting a villa outside of Medellin last August to celebrate el Dia de las Flores with friends I met there absolutely.

It was a fun night and an amazing group of people!

Working long hours is worth it, if it enables you to make memories forever. Heck, you don’t even need to work remotely or even for yourself, you just have to enjoy what you do.

You don’t need to become a digital nomad to make these memories, you don’t need to find a way to build yourself up as a freelancer or get a job that allows you to work remotely to be able to achieve these dreams of yours.

Being able to travel constantly is amazing – you meet more people, you get to explore more places – you get to dance in strange places you’d have never dreamt off and taste so many different beers (actually that may be the highlight: Being a digital nomad enables you to try an extremely large amount of different beers – fuck living in one place, after a while you’ve tried all of them ๐Ÿ˜€ )

Craft beers on the beach with a friend watching the sunsetโ€ฆ Is the type of memory I chase

Anyway, all of this rant was to say – the best part of being a digital nomad is it becomes easier to experience different things you’d usually never even dream off because you are outside your comfort zone.

I’m guessing none of that positive aspect is news to you anyway..


The downside:

Now this kinda sucks because most people will hate me for saying there’s any downsides to being a digital nomad… But it’s true there are (quite a few to be truthful).

Everything we love as an opposite side

To know brightness we need darkness

Lewis Mocker does a great job showing the two sides, I just can’t remember which video to link sorry – it may be this one:

Give it a watch, he’s a good guy!

Having a lot of money has downsides (more taxes, people think you’re an awful person etc)

Being a digital nomad or even a forex trader has downsides (you are responsible for yourself, something you’re not used to, most of your revenue will never be stable etc)

But to be truthful being fully responsible and not having a stable income isn’t the real downside, they can actually be seen as a positive.

The main challenge with being a digital nomad is saying good bye to people. Every time you make a really good friend it’s more than likely they will leave or you will leave and you won’t meet for the next few months or more

You won’t be seeing your “home” friends as often, it’s a lot harder to meet-up for drinks on a friday night if you’re on a different continent (strange eh)

It gets lonely.

Literally – I didn’t spend more than 3 hours with the same person while I was in Greece

You end up hating saying good bye to those amazing people so you avoid making new friends after a while.

I’ve been in that trap, only recently realized I’m giving up the best part of being a digital nomad because I’m scared of saying bye.

When you become a digital nomad – I have no doubt you would like to if you’re reading this post – don’t forget this.

Learn to appreciate saying good bye to people, try to turn it into a positive, every single good bye you say will usually lead to a new friend, you just have to say “Hi” once more.

It’s not the easiest thing to do, but if you need to talk about it, feel free to message me.


Becoming a full-time FX trader enables you to become a nomad, but what’s next?

There’s so many courses out-there trying to teach you to become a “digital nomad” would it be marketing gurus, or even forex education company but once there no one talks about it…

The incentive for everyone that helps you (or tries to sell you stuff) is to help you get there, not to thrive once you’ve reached that goal.

Becoming a digital nomad isn’t the end of the journey,
it’s only the beginning

It’s a bit like climbing a mountain – but getting to the top is being happy, confident, consistent, and thriving. Becoming able to live life on your own terms is one of the first camps, there’s still a lot of hurdles you are yet to be faced with

But there’s always new peaks to aim for

I wish there was more about getting there, for sure climbing the first peak – becoming a nomad or a full-time FX trader is great but you need to keep hiking higher. Life doesn’t finish there, instead the view you have over your life is only starting to be amazing, so keep hiking because the view from the top is always more enjoyable.

I’ll do my best to share a few things on that aspect.

The first one being, keep saying hello to new people. It may sound obvious, but at one point you will fall into the loneliness trap, it’s happened to everyone I’ve met that have been on the road for more than a year traveling to different locations on a regular basis.

Everything that comes into your life will have to be balanced, everything bad will lead to something good, someone cheating on you will lead you to meet a better person, you losing money trading may teach you a key lesson, being lonely may help you find a new best friend etc.

Start to look where’s the lesson, where’s the pleasure you’re about to receive to every time you are faced with a challenge. For every challenge you are faced it will be offset with a reward, as long as you go out there and are willing to go through the pain and struggle. It’s all about balance.

Keep looking at the positive side of things and of your situation – and remember why you do it. It’s easy to quit if you forget the why.

The first step is to love what you do.
While remembering why you do it

Embrace the challenges, be grateful for them, offset the positive and negative – you need the two sides, avoid being in a negative mindset, try to become grateful for everything. It’s freaking hard, but as soon as you neutralize all your worries you will be able to keep on going forward and even thrive

Thanks for taking the time to read this blog post! I hope you enjoyed seeing the other side of becoming a digital nomad / full time FX trader – and realized that’s not the end.


If you liked this article, it would mean the world to me if you’d share it or even just liked it on wordpress ๐Ÿ™‚