If you can make money while you travel, you would never need to stop. Keeping the cost of travel low, an individual can survive abroad for as little as $500 a month and travel for as little as $1,000 a month (depending on your location).
My plan is to make money while I’m traveling so that I can see the world. My Travel Fund starting out is nothing to brag about. I have a decent set of skills, a little experience, and an education in business that I hope will help me create sources of income.
My goals to make money traveling are…
Make a residual income of at least $300/month online with self publishing before I leave (April 4th)
- ~$160 royalties for the month of January
Make a residual income of at least $500/month online after two months of travel.
- Surpassed goals in March 2013
- Have positive cash-flow (make more then I spend) after 6 months of travel.
Possible sources of income…
- Self-publish online – Started June 2012 (Made ~ $100/mo Jun-Dec ’12)
- Whereswil.com travel blog – I’d be very excited if this blog generated any income
- Travel Photography – Selling pictures or maybe publishing a coffee table book
- Teach English – English speakers are in high demand in much of the world
- Start an export company or other small business – who knows what will happen
There are many ways to earn an Income abroad broken down into two main categories…
How to Make Money Traveling – Digitally
Self Publish – If you have skills as a writer, you can self publish stories, how-to’s, etc. Once published, stories can earn revenues for the rest of your life. Read the full article about Self Publishing (This is currently my primary source of income)
Website – Websites and Blogs can be monetized though affiliate marketing and advertising revenue. Websites require a great deal of work but have the potential to be rewarding. (I use and recommend Lithium Hosting)
Photography – Individuals and companies buy the rights to use your photos on other websites or publications. Use multiple sites for larger audience. GettyImages, Shutterstock, iStockphoto, CanStockPhoto, Dreamstine (You can also use these sights to purchase the rights to use images on your site or in a publication)
Make a simple site – Easier they creating an entire website, these resources allow you to create individual sites that can generate affiliate revenues. Picking heavily search topics with low levels of competition can generate sizable earnings. Squidoo and Hubpages are popular resources.
Start a Video Series – Some people today are successful at earning a living through royalties from sites like YouTube. Tough it can be a lot of work, some might find it very rewarding to create your own show.
Telecommuting – Some jobs don’t require you to come into an office. Geographically independent careers can allow you to telecommunicate. You can do work on laptop, from anywhere with internet access.
Online Assignments – iWriter, Witmart and Elance are online resources where you can find listings for work online. Write articles, collect information, work as a digital assistant their are countless listings where you can find a bit of work that you can do anywhere, on your laptop.
Fiverr – Fiverr is a website where you can post a job in exchange for $5. An Idea that’s creative and unique could earn you a few bucks to help you on your journey.
Ebay – Depending on where you end up, you may be able to visit the local market and buy things unavailable elsewhere in the world. Finding the right items to sell may take some patience but may help finance your life abroad.
Investing/Day Trading – Though not an easy feat, some individuals have had great success in the stock market. Today, anyone can trade stocks/options from a laptop, anywhere that has internet. I personally use TradeKing for all of my trades as they have the lowest trade costs I’ve found and they have a $50 signup bonus.
Online gambling – Though it can be risky, some individuals are able to earn a living playing games like Texas Hold Em’ online.
How to Make Money Traveling – Traditionally
Teaching – If you have a skill, you can teach on the road. Find a way to advertise your skill (anything from a post online to handing out fliers) and teaching can finance your travels. One of the skills in highest demanded worldwide is the ability to speak English. Some countries require little more then being a native English speaker to work in a language school.
Arbitrage – Arbitrage is the term for price differences based on location. Sometimes in your travel you’ll find products that are much more expensive in your next destination. Fill your suitcase or backpack and sell them at a higher price in the next country to replenish your travel fund.
Busking (Street Performing) – Singing, dancing, playing a guitar, if you have an original idea you can be a street performer. Street performers can work anywhere there are people. Busking allows you to “work” wherever you travel. Check local laws and permit information to avoid any legal troubles. – When I get to Europe I’m probably going to be doing a lot of Fire Performing where it’s allowed.
Crafting – I spent a few years of my life as a glass artist going to festivals and selling my creations. While it’s impractical for me to have a studio while traveling, there are many things that one could make and sell at festivals, online, or in tourist areas, that would help finance your journey.
Part-time Work – Travelers can often find work cleaning, working at a bar or picking fruit. Ask around while traveling and a short term job opportunity might find you. In countries active on Craigslist you can find quick jobs helping someone move, painting, etc.
Modeling/Acting – In some countries, having a foreign face is all you need to be hired as a model, actor, or representative. In Rural China for instance, westerners are often hired to attend business meetings and store openings as their presence is associated with credibility in Chinese culture.
Language Editing – Correcting English menus and signs can often fetch a rewarding income to help finance your travels.
How to Make Money Traveling – Work Exchange/Volunteering
Work Exchange/Volunteering – While you wont earn a wage, there are opportunities to work or teach worldwide in exchange for a great experience, a place to sleep and food. Helpx, WorkAway, WWOOF(US) & WWOOF (Latin America) are a few great resources for finding opportunities.