Have you ever wanted to pack up and just leave. Quit your job, rent out your place and buy an open ended ticket for some place you’ve always dreamed of visiting?
Other people are doing it, but it never made sense to you. How could they afford it? How do they manage?
From someone who used to work in the travel industry, and who currently runs a travel blog independently online (you’ll see why this matters later), here are the secrets, the tricks and the basics that all those full time travelers need to know about.
The Value of Money
The first thing to understand is that the value of money, across the globe, changes.
Living in America, the dollar has a strong international value, which puts you in at a great advantage. If you earn an income in American dollars, but live in a different country, the salary you make holds much more value than if you stayed in America.
If you have $20 in America, for example, you could buy yourself a nice lunch. If you have $20 (American dollars) in Thailand you could use that for several nights stay in a hostel or hotel!
With a $30,000 a year salary, in America you could live paycheck to paycheck, paying bills for your house, car and so on. If you moved to a place like Thailand, you wouldn’t have a house or car to pay for, and all the income you have would go towards hotels, food and travel expenses. Because living expenses in Thailand are less than America, you’ll see that your money goes a lot farther. One American dollar is worth around 36 Thai Baht, and you can buy a heck of a lot more with 36 Thai Baht in Thailand than you could with one dollar in America.
Saving Enough Money
Saving enough money to travel for years on end seems an impossible feat. It’s not. Depending on your job (whether it’s minimum wage or not) you should be able to spend less time saving than traveling, which is the goal. Let’s say you save for two and a half year, you can travel for three years depending on the areas you travel and the value of your money in those countries. That’s why Southeast Asia and South America are popular places to travel extensively because your money holds the most value and you can travel for longer.
Traveling extensively in Europe or Australia is much pricier and more difficult to save up for, unless you work while traveling in Europe or Australia, because the Euro or Australian dollar has more value than the American dollar.
Earning Enough Money While Traveling
Saving money only gets you so far. At a certain point you need to start making money or else your travels will be cut short.
What most people don’t understand is that you don’t have to work in the country you are traveling in (unless it’s to your advantage like in Australia or Europe). You aren’t obliged to become a waiter or housekeeper while abroad just to make some cash. If you work online, not only are you free to travel as much as you want, to anywhere you want, but you will likely be making money in American currency, which will help you travel farther and longer than if you made money in the local currency.
How to Make Money Online
A crucial component for most travelers is maintaining their online presence. The best way to make money while traveling is as a travel writer. Either you work freelance, writing for major publications, sending your posts by email, or you set up your own site and make money through advertising.
Have you ever wondered how people make money from blogs or YouTube channels? It’s all thanks to ads.
Make money with a blog
For a blog, if you set up an account with Google AdSense, and implement ads on your site (you don’t have to speak to any advertisers, Google decides what ads show on your website on their end) you will start collecting money for each person who clicks on an advertisement on your website.
Of course this won’t amount to much if only your mom and your sister-in-law read your travel blog, but a well established blog with years of history can rank on Google search for certain terms and bring in a substantial amount of money each month. The most successful travel bloggers make thousands a month (up to tens of thousands), and can easily travel off their earnings with no end date in sight.
Make money with YouTube
If you aren’t so good with the words, you may want to start a YouTube channel or a vlog instead. This way you can share stories, imagery and videos from the places you visit and hopefully make money. Or it could have nothing to do with travel. Whatever you’re comfortable creating.
With YouTube, you’ll want to create great content, but to get things really going you’ll need some sort of viral post. Viral posts aren’t the unicorns we think they are, there are ways to create viral content and get eyeballs on it, including marketing initiatives, and if you can manage to get upwards of 100,000 or 1,000,000 views on a post, your YouTube account will interest the minds at YouTube.
Once you have one hit, you could be eligible to receive the money generated from clicked ads that appear within your videos. Those millionaire bloggers do just that. From the millions of people who watch their videos, several thousands click on ads, and the vlogger gets, let’s say, $1 per ad clicked. That’s thousands of dollars per video for a major YouTube personality.
Of course, this type of money isn’t made over night. It takes years of practice, sometimes several different sites and channels, before you can generate steady income. You don’t want to start a YouTube channel or a blog while abroad, because it’s always slow to get things started, but with a mature content machine running, you can travel indefinitely.
If none of this made sense, here’s a video that breaks in down in a different way, highlighting some of the main points:
What do you think, could you become a full time traveler? Do you travel extensively and how do you manage it? We only focused on one way of traveling full time, let us know what you do differently in the comments below.