Whether you’ve been a digital nomad for a while or just getting started, keeping a daily budget while on the road can be a challenge.
From hanging out in your favorite coworking space to splurging on a nice meal, ignoring your bank account, and spending like there’s no tomorrow can be tempting.
So, how do you keep your wallet in check when each day is a potential adventure?
In this post, I’ll break down the typical daily expenses of a digital nomad and share tips on how to plan a budget that works for you!
Why Does Having A Daily Budget As A Digital Nomad Matter?
While many influencers make #nomadlife look like a breeze, the reality is different.
Traveling while working means that your daily costs can fluctuate, and expenses that were once fixed will change each time you move somewhere new.
No matter where you go, having a realistic daily budget is essential. It’ll help you control your expenses, prevent overspending, and help you sustain your digital nomad lifestyle for much longer.
Typical Daily Expenses For A Digital Nomad
Living life as a digital nomad is awesome. You’ll always have a chance to explore something new whenever you want to.
That said, it’s essential to understand the basics of what you’ll be spending each day. Let’s look at some everyday expenses you can always count on:
1. Accommodation
The bulk of your budget will go to your daily accommodation.
Whether you prefer a private room, a hostel, or a serviced apartment, it will add up after a while. This is especially true if you stay in a place for less than a month.
Depending on where you stay, expect to spend anywhere from $10 to over $100 per day for a standard accommodation. Always check websites like Airbnb, Booking, or local accommodation sites to find the best deals.
2. Meals
Food costs depend on whether you’re dining out or cooking your meals.
In many countries, street food or local restaurants are cheap and delicious, costing around $0.25 to $10 for a hearty meal.
But if you prefer fancier options, visit an expensive country, or choose international products, your daily food budget could easily double or triple.
3. Transportation
The way you get around can also eat into your budget, especially if you’re flying a lot between different places.
Public transportation is usually the cheapest choice, while taxis and rideshares are more expensive but convenient.
If you need to fly somewhere, book your flights early, use credit card reward points, or use low-cost regional carriers like Ryanair or AirAsia to save some cash.
4. Internet and Workspace
Some nomads (myself included!) are okay with sticking to cheap cafes or working from accommodations.
But other digital nomads prefer coworking spaces for their reliable internet and networking opportunities.
Based on experience, a hot desk can range from $5 to $20 per day. But, like accommodation, it could be cheaper if you go for a monthly membership.
5. Travel and Entertainment
All work and no play make for a really dull trip. Leave some money for sightseeing, activities, and local experiences!
Every person is different, so personalize your travel budget based on your desired location and interests.
How To Save On Daily Expenses As A Digital Nomad
As a digital nomad, you must balance having fun and meeting your financial goals.
The good news is that saving on daily expenses is entirely doable with a few intelligent strategies up your sleeve! Let’s look at some of these in more detail:
1. Put Your Needs First
You need to think about what’s essential for you to be as productive and comfortable as possible.
For example, if you love working from home, spending extra on better accommodation with fast Wi-Fi and a dedicated office area should be a part of your budget.
2. Use Local Transport
Instead of riding a taxi or car the whole time, why not check out public transport options? Aside from being cheaper and more eco-friendly, this convenient option allows you to experience the place from a more local perspective.
3. Opt-For Coffee Shops Or WFH
If you visit a more expensive country, coworking space fees can add up quickly. And while they’re great for networking, you could just go to their events while saving money by working from home or a local cafe.
Many coffee shops nowadays have fast wifi and can offer you a quiet place to work from at a fraction of the cost.
4. Choose Free Or Low-Cost Fun
Some of the best moments I’ve had in my 5+ years as a digital nomad didn’t cost me a dime.
When you go somewhere new, research budget-friendly tours, events, nightlife, and other attractions you can join. Many cities also offer museums, walking tours, or nature activities free of charge, so take advantage of those options before going for the more expensive ones.
5. Stay Longer When Possible
The longer you stay in one place, the more you can save everything from gym memberships to accommodation.
Staying for over a month helps you better understand what a place is like compared to more fast-paced travel.
The Bottom Line
Your digital nomad journey doesn’t have to burn a hole through your wallet.
With some planning and patience, you can design the nomadic life you want without sacrificing your long-term financial goals.
So start budgeting for your next trip and keep exploring!
Read More:
- 5 Breathtaking Digital Nomad Hotspots You Can Live In For $2,000 Or Less
- Limited Time Bonus: Get Up to $200 to Spend at Starbucks
