Everyone and I mean EVERYONE these days is trying to live free. We live in a complex, global world with so much to see and so much to do. Why not go out and enjoy the world and avoid the rat race of a cubicle? Well, it’s possible. At Millionaire Mob, our journey is to live through others by experiencing the world, learning and becoming an ‘internetpreneur.’ We like that a bit more than digital nomad… There are three easy steps to consider on how to become a digital nomad.
Live the Good Life: How to Become a Digital Nomad in Three Steps
How do you escape the everyday rat race of a 9 to 5? You go and explore. You find yourself doing the things that you are truly passionate about. Hopefully this also ultimately make you a better person.
“Life begins at the end of your comfort zone.”
-Neale Donald Walsch
Also, I believe now is a time that we live in a more connected world than ever before. The internet (which I am broadly defining as smartphones, mobile apps, cryptocurrencies, computers, websites, international e-commerce and so much more) has enabled us to interact with anyone at any time.
Within 5-10 minutes, I can hire someone to work from across the globe on a project that I want to get done. It is so easy. Why not be a part of the information age and a global revolution?
Why should you be stuck with the conventional thinking that business needs to be conducted in a 3 foot by 3-foot stationary cubicle?
How do you live a good life on the path to becoming a digital nomad?
There are at least three ways to be able to quit your day job. Keep in mind. I’m not talking about quitting your day job and building a business that requires your full on-site attention. I’m referring to a day job that allows you to work anywhere in the world. Live free. Live to explore the world.
We’ve even built some of the cheapest destinations to travel to once you hit the road as a globetrotter!
Manufactured Spending and Credit Card Churning
Once you follow the below steps to become a digital nomad below, you should consider using manufactured spending and credit card churning to travel the world. This will enable you to spend little to no extra dollars to get from place to place.
Also, by pairing both manufactured spending and credit card churning together you will be in a great spot to use these points for airfare, hotels and more. This can turn a much needed digital nomad experience into a much more enjoyable one.
What is credit card churning and manufactured spending?
Credit card churning is a method that travel hackers (or churners) use to open credit cards to obtain credit card bonuses repeatedly. This allows you to build up a significant stockpile of credit card rewards and airfare miles to use. Credit card churners then use manufactured spending to accelerate spending and obtain the credit card bonus earlier. Manufactured spending is the method of spending money on your credit card that can be turned into cash.
My favorite method of manufactured spending is buying virtual gift cards and then purchasing a money order with the virtual gift card. I also like funding bank accounts with credit cards, but that cannot be done with scale and should be used wisely.
What are the three best ways to become a digital nomad?
What is a digital nomad anyway? A digital nomad is a type of person that use technology to earn a living while living a nomadic lifestyle.
Huh? What is a nomadic lifestyle? Well, instead of truly having a centralized home you travel the globe and use co-working spots to conduct your work. This enables you to see the world. Do the experiences you love. You end up developing relationships all across the world along the way.
In order to make the list of best ways on how to become a digital nomad and earn passive income, certain criteria come to mind to make the list of steps:
- Stress Level: We cannot have gigs out there that are truly stressful. Traveling can be stressful, so don’t let your work stress you out too. Stress will be there, but life is too short to sweat the small stuff. Find something that doesn’t require you to be present all the time.
- Time Commitment: How much of a time commitment is it? Living free doesn’t exactly translate into living behind a computer. We are looking to maximize experiences and minimize the ‘9 to 5’ grind.
- Scalability / Stability: If you intend to live free for the rest of your life, you need a passive income stream that will be around for the next 15 years. Also, the idea of being a digital nomad or a digital entrepreneur needs to be scalable so that (if you want) you can grow your income over time.
- Location: This is an easy one. Being a digital nomad is called this for a reason. You should be able to work where you want and when you want.
The above set of criteria for being eligible as a step for becoming a digital nomad is important. In order to be a successful digital nomad, you must plan your steps strategically. Each step you take makes it easier for your longevity of a digital nomad.
Digital Nomad Community
If you want to continue to learn on how to become a digital nomad, there’s no better place than from the digital nomad community itself. I’ve found that the community is a very supportive group.
In fact, there’s plenty of resources within the digital nomad community to help you start your journey. Here are some digital nomad communities to learn and interact:
These two sites will help you find the best place to live as a nomad and how to become a digital nomad. Try one (or both) of these digital nomad communities out.
Three Easy Steps on How to Become a Digital Nomad
Without further ado, here are our favorite ways to become a digital nomad aka ‘internetpreneur’ (in order of priority). Follow these steps to become a digital nomad and you will be well on your way to traveling the world.
First Step on How to Become a Digital Nomad: Freelance
Skills Needed: Consulting / Designing / Whatever You Are Good At!
If you’d like to build a living while traveling around the world, you will still need to do work on your laptop or potentially at a co-working location. Before you make the leap to traveling around the world, start building a client base in the interest of your choice. Think about it for a minute. You currently get paid at a job to do something.
Why can’t you perform that as a service to someone? We live in a world that is so interconnected and global. The internet is your friend, so use it to build a personal reputation. There are various platforms to choose from that will help you build a client base or even start earning clients right away!
I love this method. In fact, I earned over $7,000 of additional income in my first 3 months doing freelance consulting! This is such a fantastic way to develop relationships around the world.
Once you start traveling and living abroad, you can use your client base to grab dinner with a recent client. Beer never tastes better than having it in a new country with a new friend. Try making money by becoming a personal travel photographer.
The world of freelancer nomads is growing faster than you think… There could be 1 billion freelancer nomads by 2035!
Second Step on How to Become a Digital Nomad: E-Commerce
Skills Needed: Internet Savviness
My second step is one that requires creativity, passion and some hard work. In your portfolio, you should have an e-commerce platform that you sell something. You can use it to build a drop shipping platform, a t-shirt company or even a service!
Perhaps, you can even pair this with the first step to grow a larger freelance business. I like e-commerce because we already source goods from around the world. To sell goods or services, you don’t need an office or a location. Perhaps, you do if you are selling food in a store.
In today’s world, the internet is king. So use it! Build an e-commerce platform from scratch via a platform of your choice. To sell goods or services online, significant research is required.
You need to be able to choose a growing industry with products that people love. The best part is that you can do this before you make the final trek into your digital nomad journey. The barriers to entry are low and it won’t cost you an arm and a leg to get started.
If you are working in e-commerce or hobby income. Is hobby income passive or non-passive income?
Third Step on How to Become a Digital Nomad: Dividend Growth Investing
Skills Needed: Initial Research on Your Favorite Public Companies and Some Reading
“The best time to plant a tree was 20 years ago. The second-best time is today.”
Ok, dividend growth investing should already be in your plans today. Regardless if you are planning on becoming a digital nomad or not, you should have some sort of nest egg or savings for the future. There is nothing better than having your hard-earned money work for you.
We’ve built several ways to get involved in dividend growth investing, such as how to find the next Dividend Kings. Dividend Kings are stocks that have increased their dividend for 50 CONSECUTIVE YEARS. An impressive feat that provides you a stable dividend income while you are out enjoying the best things in life.
You can find our list of Dividend Kings here.
Dividend growth investing allows you to receive both residual income and equity appreciation through stock price growth! There are certain stocks that you will want in your dividend growth portfolio, so choose wisely.
I like to take my income from my first two steps (freelance and e-commerce) and dump it into my dividend growth portfolio! An issue with dividend growth investing is that it takes significant capital to build meaningful income.
Pros and Cons of a Digital Nomad Lifestyle
Here are the benefits of becoming a digital nomad:
- Ultimate flexibility
- You are your own boss
- The world is your oyster… Literally
- Complete independence to live, see and go where you want
- Priceless relationship building with people around the world
How about the downsides of becoming a digital nomad…
- It takes a lot of work initially
- Becoming a digital nomad takes some skill… and luck
- Sometimes (and most times) you forgive income as you will likely be making less money
- Not having a home can be stressful
Conclusion on How to Become a Digital Nomad
The digital nomad community is a great one and very supportive. It’s a feeling that everyone is around you to help and strive in your element. The work is not easy. It requires a lot of patience and hard work initially, so brace yourself.
I highly suggest that if you are considering a digital nomad lifestyle that you should begin your journey before you quit your day job. Becoming a digital nomad does not happen overnight. It takes time and some commitment while you have a day job.
Once you hit your goals it will all be worth it. The world is always changing, so stay on your feet for new ideas to become a digital nomad. If you have other needs to expand your online presence, here are 23+ proven online jobs that require no investment (time and money). Try them out to increase or replace your income.
Use these three steps on how to become a digital nomad and you will be living the good life before you know it. You can thank me later.
Other Making Money Online Resources:
- How to overcome a language barrier in work, travel and the classroom
- Making your dreams a reality, including financing options to start your business
- How to create the perfect home office for freelancers
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