For those of us with portable jobs, it’s easier than ever to fly off into the wild blue yonder to work far from home, especially in countries where the cost of living is lower than in the United States.
Though the travel expense can seem like a hurdle, it could actually be less expensive and more productive to work in places like Belize, Jamaica, the Bahamas, or South Africa. I haven’t tried the west coast of the Continent yet, but I’m told that that too can be affordable, depending on your lifestyle at home.
Here are five tips to help you save money while traveling (or at least break even).
1. Rent or sub-lease your U.S. home
Since housing costs are most people’s biggest monthly bill, think about covering your mortgage or rent at home by temporarily sharing the space with a vacationer or business traveler who needs a temporary place. One or more of my adult children covers my home base while I’m away, and it may be an option for you to welcome a relative or friend to use your home as well.
2. Shop for deals on airfare
Longer stays can make it easier to shop for better ticket prices, especially if your travel dates are flexible. Finding great deals has become easier with all the online travel services competing for business.
3. Lodging will be your next biggest expense but it doesn’t have to cost a mint
Off-season is the best way to find affordable rates on rooms. I happen to enjoy the Caribbean which has a predictable seasonal pattern of much lower rates during the late spring, summer, and hurricane seasons. And if you watch the weather closely enough, you can jet home if you see a major storm on the horizon.
Room rates can be as low as $25 per night – depending on where you go and how adventurous you are.
I prefer beachside, which will always cost more but with social media groups often dedicated to helping expats or tourists navigate foreign terrain, plus Airbnb and other services, a little elbow grease can land you an affordable rate.
4. Adjust your eating habits and shop domestically
Believe it or not, food can actually be more expensive, even in countries where wage rates are much lower than in the U.S. This is especially true for imported foods. If traveling to a country that does not produce much of what it consumes, expect higher prices for just about everything you buy at home.
I save by buying domestic brands (foods grown or manufactured in the country), and by patronizing food stands and restaurants where the locals eat. It’s a bonus that portion sizes are smaller in many places, which helps you drop a few ounces or pounds while away! You will also notice that you waste less as you adjust to cultures accustomed to scarcity or moderation.
5. Transportation
It’s fairly easy to save on transportation relative to costs in the U.S., but this depends on your comfort level with local transit such as group taxis that charge as little as $2 for a ride to the nearest town center. I like to stay in walkable areas too, which gets me more exercise and makes shopping or running errands free or more affordable.
There are other considerations for remote workers in foreign places, including security and internet access. But I find that as long as you take usual precautions (don’t randomly accept rides or allow strangers to walk you home, etc.), and if you can live with 2G and 3G internet speed, you will be fine.
For those of us who are compensated on an hourly basis, you may even find your earnings increase because of the time savings of not having to dress and drive to meetings like you would at home.
So if it’s on your bucket list to try for remote work, don’t let cost hold you back; and if you choose to make a move, bon voyage!
