Frequently, I get messages from old friends in Facebook which obviously saw my private photos on my Facebook timeline and therefore rightly concluded that I am writing from a different place on earth every few weeks. They doubtfully and yet curiously ask me if I won the lottery.
No, I surely did not. In fact, I need much less money than when I lived in Germany as a student. And yes, I had some fear during my first few months whether it will all work out like I planned it. But now, after a three-quarter year I can calmly say that it all could be worse. Yes, I even want to encourage you waverer.
Escape the rat race! It is easier than you would think.
Hard Facts: Money and Costs
But now the hard facts: How does it work financially? Let’s check therefore a comparison of a typical German town and a mega metropolis for example in Southeast Asia. Therefore, I just used the price comparison service Numbeo and checked my former place of study Giessen and compared it to Bangkok.
At this I have to mention that Giessen is despite a very high percentage of students a rather boring town while you will not miss anything in a world metropolis like Bangkok. Even a nice beach is within reach. At writing this post Numbeo is giving me comparison numbers according to which the most areas of life are more than half as expensive than in Giessen.
An important key figure is always the average net salary in a city. Because here you can estimate how much one must earn to live like a normal citizen of this city. So, the average Giessen citizen as an monthly salary of 2066 EUR while one in Bangkok has only 598 EUR.
Do the math
As a new nomad one doesn’t yet have so high standards which is why you can still subtract a lot of money from this number. But to get a feeling for the price levels this information is very useful. It means: When I just earn 600 Euros per month I can live in Bangkok as good as someone in Giessen who earns 2000 Euros.
Of course, in Bangkok you don’t always get German standards but it isn’t a slum either. I can live very good in Bangkok. Regarding material well-being you might even live better in Bangkok than in Giessen. But I also have to mention that Bangkok isn’t the cheapest place in Southeast Asia.
Whoever wants can live even cheaper there.Let’s assume that you are really willing to give everything in the beginning of your nomadism and you work a 40-hour work week like at home in Germany. This would be 160 hours per month. To earn 600 Euros it would come result in 4 Euros hourly earnings.
Geo-arbitrage is the secret
But one doesn’t need to work in Bangkok but the goal of a digital nomad is rather to work with your computer in your backpack and earn money online. And let’s be honest: At least every person raised in the rich Western world should be able to earn 4 Euros per hour.
Granted, the competition at online job websites (therefore see the Liberated.blog Links & Tools) is huge. But their great advantage is that they usually have a higher education and a cultural and often lingual affinity to the higher paid jobs in the West. You don’t even need to be a computer nerd to earn money online. Often it is already enough if you know how to use Excel or how to do a web search to be able to get a researching or data entry job.
And when you are already using Facebook and so on you might also work as a social media manager. And only because you didn’t get a job in your high wage home country it doesn’t mean that you don’t get a job in your home country remotely while being in Thailand and only asking for 4 Euros per hour. Of course, the high wage level in Germany prevents many business men to offer such jobs.
But if they could source out the managing of their complete social media accounts to you for very low costs, some of them will surely be willing to give you a job. Here you get to know more ideas for location independent jobs. This global price differential is called geo-arbitrage. And you can use it to your advantage!
Living only on crypto profits
I am a software developer and I work for customers in Europe. In this job you earn a little bit more of course. Theoretically, I only need to work a short time once per week. I have enough projects. However, my customers expect a formal invoice.
That is why I need to found a company first to be able to meet all the criteria of those formalities. Until now, I did not yet receive any of the earned money on my bank account but only own it on paper. To state it clearly: I haven’t got a penny since December from my own hands’ work. But as I said: The life as a nomad is easy and survival is simple. My solution for the last months were crypto currencies.
To illustrate how much one can currently earn with crypto currencies we only need to consider the overall market cap and its growth. This year the crypto market grew in average 25% per month. Note that I said “the market” and not the high performers among the crypto currencies!
So, if you only invest widespread in the market and don’t even trade you can look forward to a monthly profit of 25%. To get the needed 600 Euros monthly income by crypto profits it only needs an investment of 2600 Euros. Let’s say 3000 Euros to also be able to handle a bad month. Whoever for example lives economically and hardworking in Germany will have saved this amount in a few months.
If you have 3000 Euro starting capital your nomad life can begin. And please note that in this example you don’t need to work anymore at all. You have 100% spare time or you can use it to build up your own online business so you are ready when the crypto profit will stop being so high. You see, there are always ways to do it.
Whoever is willing finds ways. Whoever is not willing finds reasons.
Here's a little anecdote that might also illustrate what's possible: When I wanted to start my life as a nomad at Frankfurt Airport last year, I talked to a homeless bottle collector in the terminal. Of course, he made a good yield of deposit bottles shortly before the security check.
Thanks to his good contacts to the security staff, he also had a small monopoly on the "emptying rights" to the garbage there. He told me how he always collects bottles for a few months in Germany (and very committed and probably not only 40 hours a week) and how the rest of the year he earns lives in cheap countries like Thailand. It is certainly not the nicest job, but he has also successfully found his niche.
Now it's Your Turn
I hope I could encourage you. If you want to start now doing the first steps to exit the system soon, I have made a check list for you. But if you still have concerns then just look around at this Liberated.blog. Maybe an individual consultation might help you as well.
What concerns and fears do you still have? Could I motivate you? When do you want to risk the first steps towards freedom? Or did you maybe already escape and can give us your best tips? Please write down below in the comments.