The rise of digital-first jobs means more and more workers are able to work overseas or become digital nomads. Working from home has transformed into working from anywhere, and many people are using their newfound flexibility to explore the world without having to quit their jobs. But while working poolside without an interruption to your salary is seriously cool, how can we balance sustainability, both financial and environmental, with a lifestyle that involves frequent travel?
The impact of frequent travel on your finances
Being able to travel while still earning your usual salary sounds like a dream come true — and it’s certainly a privilege to be able to do so. But when you’re used to using your salary to fund a “normal” routine at home, you might find funding your nomadic lifestyle more difficult. You may need to pay for flights, temporary accommodation, visas, currency exchange, overseas medical attention, insurance, and even dining on the go as opposed to cooking at home. Even if you’re travelling to regions with much lower living costs, there’s still a lot to consider.
The impact of frequent travel on the environment
Living and working all over the world risks increasing your carbon footprint. Flying often may mean you’re contributing to higher emissions; you might need to rely on disposable convenience items when travelling; and your lifestyle may put a strain on local resources, particularly if you’re living in areas with a high density of remote workers.
Savvy tips to be more sustainable when travelling
We’ve rounded up some top tips on how to be financially and environmentally savvy on your working travels.
Financial sustainability
- Set a budget: It sounds obvious, but many travellers make the mistake of saving up a lump sum to travel with, only to find they burn through it quicker than anticipated. Setting and keeping a regular weekly budget can help you keep your expenses in check and ensure you’re not running out of money too quickly. PocketSmith is a great tool to keep track of your travel finances. It has multi-currency functionality and even forecasting features to help you look ahead to the future to plan for your transient lifestyle.
- Watch out for currency conversions: Currency conversions can eat into your travel affordability, especially as geopolitical and economic tensions escalate in many regions. Keeping an eye on exchange rate fluctuations may help you minimise bigger losses during temporary changes, and manage your expectations for affordability in new countries.
- Get to know the price norms: All cities and countries have their own quirks, especially when it comes to what’s cheap and what’s expensive. Chat to locals to understand the norms in the areas you’re visiting so you can avoid the pricey things and take advantage of the cheaper options.
- Download local apps: When it comes to food, entertainment and dining, there are often discounts or hacks available to those in the know. Research apps or websites that might get you access to freebies, discounts or rewards to make your money go further. For example, in the UK, USA, Canada, Australia and select European countries, an app called Too Good To Go sells off unused food and produce from cafes and shops at the end of the day. It’s a great way for travellers to eat cheaply!
Environmental sustainability
- Consider alternative modes of transport: Flying is by far the biggest contributor to travel emissions, so exploring other options like trains, trams, and buses can help reduce your impact. While some airlines allow you to pay extra to carbon offset your flights, there are a lot of concerns around transparency and impact, so it’s not enough to rely on when trying to travel sustainably.
- Plan your route to minimise unnecessary travel: Planning is a big factor when it comes to sustainable travel. While it’s great to live in the moment and make spontaneous decisions, this can result in inefficient routes and avoidable flights. If you’ve got countries you want to visit, plan strategically so you can take the most efficient route to get there.
- Minimise the use of single-use conveniences: Travel can make it harder to stick to your usual conscious practices like recycling and reusing. When you’re living out of a backpack or suitcase, you’re not likely to have all of your reusable cups, bags and boxes with you at all times, and you might not have access to storage to make food last longer. That said, it’s worth being conscious of where you might be relying on single-use plastics more than at home, while looking for travel-friendly solutions to reduce your impact.
- Explore regenerative tourism practices: Regenerative travel involves aiming to leave a place better than you found it, or giving back more than you take from a place you visit. This can look like getting involved with community projects, supporting small businesses, or contributing to environmental restoration efforts during your stay.
Help! This has made me want to work remotely and see the world!
We hear you — it’s certainly tempting to pack a bag and take off with your laptop. But without sounding like your sensible parent, it pays to make sure your finances are in check before you go (sorry, we’re a personal finance software, it’s in our DNA). If you’re ready to start making your travel dream a reality, head over to our Money Methodologies Hub to find a savings strategy to get you booking your trip sooner.
Emma Edwards is a finance copywriter and blogger, on a mission to humanize the financial services industry by creating meaningful content that’s accessible and empowering. You’ll find her penning money tips at her blog, The Broke Generation, sharing financial insights on Instagram, or injecting life into content for her business clients.
