Make Money

How to make money online

There’s no magic solution to becoming a digital nomad, you need to have enough money to support your lifestyle, so you either need to be rich, or more realistically, you need an income… a job. Most jobs don’t allow you to work remotely in different countries, so you need to find a job that allows you to be a digital nomad.

You don’t have to have a new source of income lined up to move to a new country or state. Many people take a leap of faith to move and figure out income once they arrive where they want to live or find ways to earn money while traveling full-time. But to become a digital nomad, able to live and work anywhere in the world, you need ongoing income.

Fortunately, you have many options to create location-independent income.

Discuss Remote Working With Your Current Employer

Negotiating this perk got a lot easier in the wake of COVID-19. Even the staunchest opponents to remote work had to embrace it if possible. In most cases, the alternative was not working at all.

And now that they’ve tried it, many of those previously antagonistic employers have had a change of heart. Some found the drop in productivity they dreaded never happened. Others realised the potential cost savings of ditching their physical office space.

Talk to your employer about remote working full-time. Set measurable productivity metrics to demonstrate that you can work just as effectively outside the office. If your employer resists, offer a phased trial period, starting with one or two days per week and gradually expanding if you continue meeting your performance goals.

Physically parking yourself at a desk at work does not mean you’re accomplishing anything. Modern employers should be extremely clear on what they expect from their workers and have precise ways to measure their results. If you and your employer aren’t clear on those measurements, it’s time you change how you both do business.

Find a Job That Lets You Work Remotely

Not everyone likes their current job, and even those who do may not get the green light from their employer to telecommute full-time. In that case, consider looking for a new, remote job.

A remote working-friendly job could be another position in your current field, or you may be ready to change careers. If you don’t already have a specific career in mind, start researching jobs that let you work remotely for fresh ideas.

Today there are more jobs than ever that let you work from anywhere. Find a career path that appeals to you and that fits into your lifestyle design, and pursue it relentlessly. It may require new professional certifications or even a new degree, but that’s the price of creating your ideal life.

Freelance or Start a Virtual Business

No one says you have to take a job from someone else to make money remotely. Why not create your own employment?

Consider starting a side business while working your full-time job to help fund your nascent startup and get it off the ground. In particular, virtual businesses often come with low startup costs and high upside potential while granting you location independence. That doesn’t mean you can’t sell digital products; millions of people operate home-based e-commerce businesses on Amazon every year. As it starts earning more money, you’ll gain confidence in your ability to generate income from anywhere.

If you don’t want to start a full-scale business, you could simply become a freelancer. You have unique skills, so charge for them and set your own hours. Spend five minutes perusing Upwork and Fiverr to get a sense of the freelance demand for your skill set. For many, freelancing offers an easy transition to the digital nomad lifestyle. Feel free to start part time as you learn how to make money online.

A few gig economy ideas include blogging, copy editing, doing social media marketing, SEO, graphic design, web design, and user experience (UX) testing.

And remember, you don’t need to replace your current job’s income. You only need enough money to cover your living expenses — which you can trim far lower than you spend now, especially if you move to a low-cost-of-living area. Even as you build your online business income, start working to cut expenses and grow your savings rate.

Invest for Passive Income

Passive income keeps rolling in whether you’re sitting at your desk or lying on the beach. Start investing to earn more of it, and increasingly cover your living expenses. With enough passive income, you can reach financial independence and retire early.

While there are endless ways to generate passive income, start by exploring the most common passive income sources.

As a fun exercise, start tracking what percentage of your living expenses you can cover with passive income each month. When you reach 100%, congratulations — working just became optional.

Research Digital Nomad Visas

Clever, nimble governments around the world are increasingly seeking to attract digital nomads with special visas. These visas require you to prove ongoing, independent income, and they let you stay longer than typically allowed under tourist visas.

It makes sense. You earn money from elsewhere and spend it in their country. It’s a simple and effective way for the host country to import wealth.

For example, Estonia launched its digital nomad visa in 2020 to attract earners from other countries and stimulate their pandemic-damaged economy. But they weren’t the first country to try to woo people who earn money from elsewhere. Several other European countries have launched visas to attract laptop entrepreneurs, including Portugal, Germany, and the Czech Republic.

Even some U.S. states have initiated magnet programs to attract digital nomads. Vermont launched a Remote Worker Grant Program in 2019, offering up to $10,000 over two years to encourage remote workers to move to the Green Mountain State. It was so popular that they ran out of funds, and the program is currently on hold pending more funding. Farther south, Tulsa, Oklahoma, opened a program called Tulsa Remote that offers $10,000 in the first year for digital nomads.

Keep an eye on local Wi-Fi availability and Internet connection speed. You need a hotspot you can rely on.

Affiliate marketing

Get paid to advertise other people’s stuff. If you’ve already got a blog or a decent social media following, check out some companies who offer money for referring people to sign up for their service. For example, Swift Builder is a website building platform, allowing users with no web development experience to build their own website. You can become an affiliate of Swift Builder for free, and then when you get people to sign up, you get paid by Swift Builder. You earn money per month for each paid referral you send over. So technically, if you refer enough people, you don’t need to work anymore as Swift Builder will pay your bills.

There are lots of affiliate programs like this, just have a think of the type of services that your followers would be interested in, rather than spamming them with stuff they’re not going to care about.

Check out Swift Builder