The nomadic lifestyle is starting to increase in popularity. As more individuals break free of the confinements of corporate jobs, high cost of living, and increased stress, the idea of taking off to explore the world around them becomes more attractive. Unencumbered by the financial burdens that keep many from living a joyous life, being a nomad seems to be the way to go. If you’re thinking of long-term travel and exploration, here are a few financial benefits you may not have considered:
1. No Mortgage or Rent
The great thing about being a nomad is that there is essentially no need to have a permanent place of residence. Rather than being bogged down by mortgage or rent which can consume 30% or more of your income, you can ditch the residence. What’s great about not having a physical property is that you also won’t need to pay for utilities, property taxes, or housing insurance. You’re going to be traveling a better part of the year and many nomads choose other means of transportation and living to get by. Some of those means include:
· Boats – The cost of boat financing is a lot less than the cost of mortgage or rent. You could essentially purchase a new or used boat and travel from one location to the next on the open sea. A few monthly payments to the leasing company and pretty soon you own the boat outright, decreasing the cost of living as a nomad even further.
· Recreational Vehicles – Those who prefer to travel on dry land often ditch their houses and apartments for RVs or trailers. Equipped with everything from a television, bathroom, and kitchen, occupants can travel several days without the need for hotel accommodations.
2. Be Your Own Boss
Since you won’t be in one location for too long, working for a traditional company is likely not going to work for long. For this reason, many nomads use the advantages of modern technology to get ahead. Starting a business that operates strictly online, for instance, is ideal. As your own boss, you can work hours that are best for you and earn as much income as necessary to survive. Some ideas might include:
· Travel writers
· Freelance writers or bloggers
· Web developers
· Accountants
· Virtual assistants
· Customer service reps
· Independent sales representatives
3. Improved Health
When you’re not bogged down by bills and the daily stresses that a “routine lifestyle” might provide, you tend to be a lot healthier. The nomadic lifestyle provides that opportunity. Since you’re not worried about the mortgage or the rise in utility costs or your annoying boss and dead end job, you’ll relieve a lot of stress. As you explore the world around you, partake in new cultures, and do things you only dreamt of, this increases your level of happiness, therefore, improving your health. Improved health obviously means fewer visits to the doctor, copays, prescription costs, etc.
4. Increased Ability to Save
When you don’t have a myriad of bills and you’re running your own business, you essentially have an increased ability to save money.
Ah, to be a nomad… in many ways is to be financially free. You’re free to explore the world and abandon many of the things in life that cause us stress and turmoil. No housing costs, increased savings, the freedom to be your own boss, improved health and for many, an overall better quality of life. If you’re considering this as an option, be sure to weigh the pros and cons as it pertains to your family and personal needs.