Five ways to lead a digital nomad lifestyle in 2022


Date: 9 May 2022

A person working outdoors on a stone wall in hot country

The COVID-19 pandemic started a much-needed conversation around work-life balance and thanks to remote work, people have embraced the life of a digital nomad with open arms. Travelling around the globe, experiencing new cultures, and controlling how and when you work sounds great but digital nomads also have to consider the changes that come with new lifestyle choices. For instance, if you're a US citizen looking forward to the digital nomad lifestyle, you have to consider VISA issues, W-8BEN form, and other factors. Here are five essential things you should consider:

1. Focus on your skillset

Since digital nomads mostly rely on short-term gigs or one-off contracts, they have to be incredible at what they do to maintain their lifestyle. Start by identifying the skills you can offer and the ones that will earn you a living. Now align both of these to find a middle ground and constantly hone your skills to move up the ladder. Since freelancing is the preferred option for most digital nomads, you can look into digital marketing, virtual assistant, and web developer jobs to earn a comfortable living.

2. Start networking

The life of a digital nomad can be both exciting and lonely. Since you're always travelling between countries, it's hard to find a community or a "home" to come back to. That's why it's important to find people who share the same values and journeys and to network with them to understand more about the lifestyle. Networking also helps digital nomads grow professionally and get exposure to new jobs.

3. Sort your international payments

When you're earning in multiple currencies from different countries, you have to take care of the tax and legal complications. For example, as a self employed person in the UK, you need to register for self assessment with HMRC and submit a self assessment tax return whilst a US citizen would need to know how to file a W-8BEN and understand how taxes are deducted in the country you're living in right now. You should only use banks and payment platforms that have digital nomad-friendly policies. Charles Schwab, Wise, Monzo, and Chime are solid options that you should look into.

4. Budget your expenses

It's easy to get swayed by the excitement of being a global citizen but you have to remember there's very little support for you. That's why a digital nomad should have an excellent hold over finances. You need to carefully budget costs for living in different countries and have a buffer and contingency fund for unexpected incidents. Take on jobs that allow you to plan ahead and always prioritise individual experiences over unnecessary purchases.

5. Get travel insurance

Travel insurance is absolutely critical for digital nomads. Since you'll be travelling a lot, you need to factor in sickness, luggage theft, or other accidents. Not every country offers the same standards of healthcare but solid travel insurance should keep you protected. When picking travel insurance, it's important to understand the costs, whether it covers the regions you plan to travel to, the treatments it covers, the maximum coverage, the age barriers, or if there are any hidden charges involved. Safety Wings, Integra Global, World Nomads, and Allianz Global Assistant are some of the most popular options for international travel insurance.

By keeping in mind the above factors you'll be able to live the life of a digital nomad just the way you envisioned.

Copyright 2022. Sponsored post from Digita Web Solutions.

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