Aspiring Digital Nomads: How to Prepare & Where to Stay - By Annie Castle
The digital nomad lifestyle can sound like a dream — fortunately, you can now make it your reality by renting a cost effective student apartment as the first step. Although this particular lifestyle may seem like a recent invention due to the pandemic, US tech firm MBO Partners revealed that more than 7 million Americans were already digital nomads in 2019. The population has definitely increased over the past few years, especially since countries like Barbados, Estonia, and Georgia are offering special visas to professionals who want to take their work on the road.
With more opportunities available for digital nomads, now is the best time to prepare for this exciting, new lifestyle. So, if you're a student or fresh grad already making plans to do so, here’s what you need to know:
How to Prepare for the Digital Nomad Lifestyle
Finances
It’s already hard to pay off student loans. But if you’re aspiring to become a digital nomad, you’ll also need to account for your living expenses (student housing), travel costs, visa fees, and insurance policies.
While budgeting can help, you can boost your savings by investing your money. An article on investment tips for college students points out that making long-term investments at a young age can help you reach your financial goals. However, you need to be wise about your investments, since popular assets like cryptocurrencies, options, or microcap stocks involve many risks. Instead, you can rely on products like government bonds or index funds for minimal risks and ensured returns.
Career
Aside from budgeting and investing, you can reach your goal of becoming a digital nomad by planning your future career. While you’re still in college, take this time to assess whether you want to run a remote business or apply for a remote job.
While entrepreneurship might sound daunting, this guide to running a remote business recommends this business model as it can reduce miscellaneous costs and help you access diverse talent pools. Over 40% of U.S. employers offer flexible work options, which means that your fledgling business will be in good company. But to ensure the success of your startup, you’ll need to set expectations and establish workflows so that employees understand what they need to do to make a remote business work.
Does owning a business not sound particularly appealing? If so, you can also opt for a position in a company offering remote work so you can earn while you travel.
Travel Plans
While traveling is extremely fun, everything runs smoother if there's a proper plan in place.
The timelines can vary from person to person, but experienced digital nomads recommend that you stay in a place for at least a month. It’s possible to have fun during shorter time periods, but you might spend your entire stay thinking about your next move and preparing your visa, accommodation, and flights in advance. So, be sure to plan your trips out carefully if you want to enjoy each target destination.
Where Can You Stay as a Digital Nomad
1. Digital Nomad Accommodations
With more digital nomads, more areas are offering furnished accommodations for this transient population. In fact, remote work villages are already being established in Europe, starting with the first site in Tallinn, Estonia. The village contains hotels that cater to those who want more luxurious remote work stays. You can also easily access remote workspaces and meeting rooms in the area, or walk around the social hubs to meet fellow digital nomads and use short term apartments to rent for digital nomads such as yourself.
2. Temporary Housing
Do you want a bit of privacy? You can rent furnished accommodation options designed for everyone, including digital nomads. We can provide you with benefits like fully furnished apartments and homes, or even whole accommodation options for short stay rentals so that you can truly make yourself feel at home. More importantly, there are no limits for a maximum stay, which is a great option if you want to turn your short term rental into a long term rental.
3. Coachsurfing Accommodations
Coachsurfing isn’t for the faint of heart, but it’s a great option for digital nomads who want to cut costs. You simply have to sign up to a couchsurfing platform, so that you can match with locals who want to offer their couch for free or go for a month to month rental. The couchsurfing community is most active in the US, Germany, France, Canada, and the UK, so these are the best countries for this option.
The digital nomad lifestyle isn’t easy, but you can make it happen by following the tips in this guide. Make those preparations as soon as possible, find a month to month rental and you'll find you can travel the world as soon as you graduate.
Authored By Annie Castle
