Income On The Go – 7 Ways To Fund A Travel Lifestyle
Aug 18, 2016 No Comments While many people would love to travel long-term with their families, the task of figuring out to how to fund a traveling lifestyle can seem daunting.
It is hard to figure out where to even begin, when all you have known your whole life is how to create a conventional life with a conventional 9-5 job.
I made this video to help you brainstorm ideas on how to create an income stream that will allow you to travel with your family. In this post I share seven ways to fund a travel lifestyle and begin the location independent life you’ve been dreaming about!
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Transcript
Hi everybody, it’s Brandon Pearce.
Today, I am here in my mother’s garden in Everett, Washington. She’s helping me behind the camera. I’m going to talk today about seven ways to earn income while you travel.
Traveling, for me, has been such a life-changing experience and such a huge catalyst for growth. I’ve met many people who want to travel long-term with their families or individually, but one thing that I’ve noticed holds a lot of people back is not knowing how to earn an income while they are not a home.
Today, I’m going to share seven different ways to earn income while you travel. These are ways that I’ve seen other people earn money, and ways that I’ve used to fund my own travels.
1. Remote Work
Can you negotiate a remote work arrangement with your current job?
Let’s say you have a job that you really could do from home on your computer but you have always done it in the company office. This is how it has been done for years, but does it have to be done this way? Can you talk to your boss or your manager to find an arrangement where you can work from home? Working from home is getting more and more common in this day and age.
2. Online Work
This may seem obvious, but there are so many different ways that you can work online. This may mean getting a new job, if you are currently in one that doesn’t allow you to work online. If you look on sites such as upwork.com or freelancer.com, you’ll see a huge list of all the different types of jobs that can be done on the Internet.
In my company, musicteachershelper.com, I currently employ over 20 people who all work remotely, and many of them I find from online sites. My employees are doing everything from graphic design, to programming, to customer support, to legal work, to video editing, and more. If there’s a skill that you have or a skill that you want to develop, I encourage you to go to some of these sites and see what’s available. There are so many ways that you can earn income on the Internet.
3. Online Business
Can you create an online business?
An online business is how I earn my location independent income. Online businesses are a lot of work and there are a lot of different types. My business is a web app that helps music teachers keep track of billing and scheduling.
Instead of an app you could also create a physical product and sell it online either on amazon or through another channel. If you had a multi-level marketing product that you are really passionate about, that could be another good way to earn an income. The distribution would be taken care of by the company and you would not have to stock a product.
Another way is to create a digital online product like an e-book or a course and sell it online. You could do coaching or teaching or other types of service-based businesses.
Finally, if you have a blog, you enjoy writing, and you have a good following, you may be able to get advertising on your site and earn income.
These are all different ways to earn income through an online business while you travel.
4. Brick-and-Mortar Business
Do you have an idea for a brick-and-mortar business?
A brick-and-mortar business may be one of the harder options, requiring a bit more upfront capital. But I think it’s one that a lot of people don’t usually consider. It is possible to have a brick-and-mortar business and organize it to make it efficient and profitable. You can then hire other people to help you run it so that you do not have to be physically present constantly.
5. Find Local Work
Do you have a skill you could use in another country?
When looking for local work wherever you are traveling, there are some restrictions to keep in mind depending on where you’re going, but you can get a work visa either on your own or through an employer, and find a job in another country. You can look for work similar to what you’re doing now, or different types of opportunities like teaching English in Japan, working as a tour guide, or creating a local business.
6. Renting Your Home
While you are out of the country it could be possible to rent out your home while you’re traveling, either long-term or, if it is in a desireable location, you could rent it as a nightly vacation rental on a site like Airbnb.
When we travel, we use Airbnb a lot because it is easier to find houses that will fit our family comfortably. We also have our own property in Bali that we rent out as a vacation rental on Airbnb when we are not there.
If you’re thinking that renting out your home is a lot of work and you don’t want to be a landlord, keep in mind that you don’t have to do it all yourself. You can hire an individual or a property management company to take care of all the logistics, the cleaning, and take care of switching tenants.
I know families whose sole source of income is renting out their house. They’re able to travel the world with their rental income.
7. Multiple Streams of Income
I think the best option, for most people, is having multiple streams of income. You may have a property to rent out, you may do some freelance work, and you may have an online product. By creating multiple streams of income you can build a system where if one income happens to fail, you still have income from the others. This is a more secure way to travel and is one of the more common ways people fund their traveling lifestyles. Doing a mix of different things also keeps life more exciting because you don’t have to be doing the same thing over and over again every day.
I hope that some of these ideas from this video have been helpful to you. Thank you for watching and I hope you have a fantastic day.
Remember to live well and enjoy life now.
Online Resources
Here is a list of online resources I have compiled for you to get you started on your journey to location independent income.
Brandon Pearce
Brandon is a location independent entrepreneur, musician, worldschooling father, and the principal author of this blog. He's all about reaching his potential and enjoying life to the fullest in each moment.
