So I left my comfortable life in NYC to head off to Bali to become a digital nomad… I made a few mistakes along the way, I would like to share what I wish I had done.
HOW TO BECOME A DIGITAL NOMAD: MISTAKE #1
I didn’t stay in one place long enough. When you first start you need to plant yourself in a place that inspires you to work. I stayed in Bali for a month then bounced around Thailand and Vietnam. This was expensive, and I was not productive.
How I Would Do It All Over Again:
I would have signed up for workaway, a service that places people who offer housing in exchange for volunteer work. I do digital marketing and web design and there are actually places that will have you do part time social media/digital marketing in exchange for free housing. Next time, I will do that. I will also commit to a location for 3 months.
Fix:
I actually decided to go back home for a bit to regroup, sell the rest of my stuff, and develop a different packing set-up as I had to store my stuff in Singapore at a hostel for one month ($100 USD).
Why this wasn’t FATAL:
I saved enough money in the beginning to let me afford this error. I caught myself early and was able to turn it around in time.
HOW TO BECOME A DIGITAL NOMAD: MISTAKE #2
Not having an organized budget. I consider myself to be very financially responsible. However, I should have been more careful with my money.
How I Would Do It All Over Again:
I lost my debit card twice. With the new chip, the machines love to eat your card, give you cash first and then wait a good 10 seconds before spitting it out again. Anyway, luckily it was the only thing I lost along the way. This leads me to a double solution to the ATM problem and the budget problem. I would make two separate accounts: one with TRANSFERWISE and the other with ALLY, or STASH. One serves as a back up, the other is your main source of cash that you can regularly deposit your money into every week, month, whatever… This way you have a backup in case your card gets lost and you can discipline and train yourself into not spending money.
Why this wasn’t FATAL:
I realized my mistake and corrected it. I set a budget for myself and made myself stick to it. I took the opportunity to go home and manage the rest of my stuff now that I was committing to this lifestyle. See a theme here?
HOW TO BECOME A DIGITAL NOMAD: MISTAKE #3
Not having a diversified income stream. I had one client that I invested all of my free time in before I left, and was relying on to float me. However, a couple of weeks after I left, she sold her business. Yeah… I thought it was ok because I had solid digital marketing skills, and what I think was and still is a great portfolio. I was too scared to update my Linkedin with my new agency because I was crippled with fear, I was afraid to pull that trigger. That was a mistake in and of itself. I then, because I was too afraid to go after real clients,I tried to make money on freelancing sites like People Per Hour. LOL, I ended up getting the worst client she was all over the place and had no idea what she was doing. She ended up firing me and I made a whopping $50.
How I Would Do It All Over Again:
I would have tried to get more clients before I left and promoted my agency more via social media. The platforms like Upwork, Fiverr, 99 Designs, etc.. are great places to start as well.
Why this wasn’t FATAL:
I got on the platforms, reached out to old contacts, and built up my LinkedIn.
Conclusion:
I look at location independence as an investment. Cost of living in the developed world and wages just don’t add up, especially in the U.S. If you are willing to work, I believe that in time, you can make a middle class income abroad allowing you to save more and live better. It’s just that simple!