Here’s How To Make Money While You Travel
People often think of traveling and making a decent wage as mutually exclusive. However, this doesn't need to be the case. In fact, you can see the world in several ways, and make sure that you have a decent amount of money coming in. You don't have to rely on minimum wage jobs in bars, clubs, or farms to do this either. Keep reading to find out what they are.
Busking
If you have talents in singing, playing music, or performing, you may wish to try out busking. The good news is that you can rake in big money over a day in a well-placed spot.
However, it is essential to remember that many places will require you to have a license when busking, and you could get in trouble far away from home if you don't. Also, unless you are improving or singing, you will need to take props and instruments along. Therefore it may well be worth having a good long think about the most straightforward act to perform while on the move before leaving.
Freelance
One of the easiest and most common ways of earning money while traveling the world is offering your services as a freelance digital nomad. This means you work in a field that you are already established in, such as SEO, programming, graphic design, or content creation, while picking up projects as you need them.
This option is particularly popular because it's a lot easier and more profitable than working bars and farms, which people used to do before digital ways of working became variable. Another advantage is that you can maintain your career trajectory even while traveling the world with this option.
Margin Trading
What is margin trading? The practice of margin trading allows trading assets by getting additional funds from a third party, therefore giving traders access to more capital. Margin trading strengthens trading positions and traders can expect larger gains on successful trades.
In order to do this, a trader should commit to a percentage of the total order when making the offer of a margin trade. The initial funds that the trader deposits are called margin, and the trader will choose the ratio of the borrowed funds. For example, if a trader commits to $25 as the margin, the trader can then decide to leverage the trade 3x. The trader will borrow $50 to by $75 worth of Bitcoin. Margin trading is a simple exercise, but will still require a degree of caution- regardless of the trade’s outcome, the borrowed funds will still need to be returned. In the case of this example, that would be the $50 borrowed and the additional fees to complete the trade.
Offer services to the local or traveler population
When traveling the world, you will likely primarily interact with two types of people- locals and other travelers. This means you will have an opportunity to sell your services to these people and make some money.
For example, you may offer hairdressing services, teach sailing, or even offer fitness classes such as HIIT. You can ask for cash payments for such services, although you may also want to try this type of mobile point of sale device. Something that can help you process and keep track of payments no matter where you are. The good news is that mobile devices like these won't take up too much room in your bag, leaving plenty of space for your other essentials.
Airbnb your home
Lastly, when traveling the one thing you won't be using in your house or apartment. That means it's totally possible to rent it out while you are away, which can generate a very decent amount of money. This is actually one of my favorites as it's easy money. And airbnb covers damages up to 1 million dollars.
Of course, before you do this, be sure to consider whether you want to offer single nights, weeks, or a more long term arrangement to your new tenants. It's also best to remove any valuable personal possessions and find someone staying in the country that will keep an eye on things for you. After all, you will need to have someone to rely on in case anything goes wrong.
