Working

Many people love the idea of security and normalcy. That might mean having a set routine that they follow each day because it’s what makes them comfortable. 

Meanwhile, others prefer being sporadic. They want to travel the world and have the ultimate freedom to choose how they want to spend their days with very little desire to be tied down to one location. Living a nomadic lifestyle is not for everyone, but if this is what your heart desires, there are some things you need to keep in mind to make it work for you.

Your Credit Score Can Help You Get on the Road

Being a nomad puts you completely in charge of determining how you wish to live. Do you want to buy a minivan, cargo van, or some other type of #vanlife vehicle and travel around the southwestern United States, or do you have something else in mind? One of the biggest factors you’ll want to consider is where you plan on resting your head at the end of the day. Even if you have fair credit (“fair” typically means a 580 credit score up to 669), you might be able to obtain financing for a travel vehicle that would work best for you. 

Choosing a Vehicle

You’ll want to consider gas mileage, space, clearance (for boondocking), and maintenance costs. You’ll also need to figure out how you’re going to get wi-fi on the road, whether that means parking in town and using coffee shops and libraries, or getting a wi-fi extender and possibly even a Starlink system for more remote travel.

Since you’ll change locations often, you should have in mind what you plan to do during each stretch at your new location. There are apps available for those looking for short-term places to sleep, such as Nomadlist and Couchsurfing, that can help you. 

Video Conferencing 

Not staying in one place means you’ll have to find some type of remote work to fund your lifestyle. There are many options for working remotely, some catered specifically for a digital nomadic life, including a data analyst, product designer, QA tester, online English teacher, and SEO strategist. 

One of the best things you can do when working remotely is use video conferencing to help stay connected with people from work, your friends, and your family. This technology allows you to attend and conduct meetings from wherever you currently are, either from your laptop or even from your phone with high-resolution feeds. It’s a convenient way to share ideas, express feelings, and help stay motivated. 

Cloud Services

Cloud services are a must-have for anyone working remotely. These services provide a way to save important documents, photos, and videos via the web and not specifically on one device. This makes it possible to access these documents anywhere as long as you have an internet connection or some type of data, making it convenient and flexible. Cloud computing makes it possible to start on a project from your laptop and then switch to work more on it using just your phone with the data readily available to you. 

Work Station

Working remotely means you should have some sort of workstation established even if you don’t plan on sticking around for long. If you’re traveling in a vehicle such as a van or an RV, you may want to consider something small and portable, such as a lap desk, to help stay organized. 

You can also choose to work from a local coffee shop or public library; just remember to take frequent movement breaks. It may not always be possible to work using the most ergonomic equipment, but you should try to be as comfortable as possible when you’re working. 

Budgeting

While living a digital nomadic lifestyle is all about flexibility and freedom, you do want to focus on creating some type of budget. There are many things you’ll have to factor in, such as food, activities and hobbies, accommodation, visas, insurance, other travel-related costs, and business costs. You also want to put money aside for unexpected expenses such as replacing your laptop, repairing your vehicle, or a family emergency requiring you to fly.  

Nomadic lifestyles aren’t for everyone, but it’s a great option for those who would like to travel the world. There’s a lot of freedom involved, making it possible for you to travel to wherever your heart desires. 

Tax considerations

Working from home across borders can also have complex tax implications. You may be subject to tax obligations in both your country of residence and the country where your employer is based. Key considerations include determining your tax residency status, potential double taxation issues, and compliance with tax treaties between countries. You may need to report foreign-earned income, claim foreign tax credits, or utilize exclusions to avoid being taxed twice on the same income.

Additionally, working remotely could create a “permanent establishment” for your employer in your home country, potentially subjecting them to corporate taxes there. It’s crucial to consult with international tax experts and stay informed about reporting requirements, as failure to comply can result in penalties. The specific implications will vary based on the countries involved, your personal circumstances, and the duration of your remote work arrangement.

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