To live and work in another country, on some exotic beach somewhere where the pace of life is just a little slower and where the weather is a little better is a dream that many people have dreamed and in recent years, thanks to the internet, for the first time it has become a real possibility; if only you have the determination and a clear goal. That’s what this post is about, the message is clear enough – you can do it, but you need a plan…
The Biggest Roadblock
Of course the biggest problem that most people face is figuring out the finances – I mean swanning off to live on some beach somewhere is a luxury reserved for rich people and retirees right? Well no, not really.
In general there are 2 options; Working abroad, or Working online… But since this blog is about making money online, let’s focus on that option shall we? Besides, that’s the better option anyway.
Why Is It So Easy?
Unless you are already living the dream, making your income online might seem like a dream too far already, never mind making enough to go and live in luxury. Here’s the thing though: If you are clever and you pick the right country, you can actually live for much less than you would do at home.
The best bit is that earning money online, chances are you will be earning in dollars but spending in a much weaker currency – which means your income goals will be much lower.
Pricing It Up
The first step to taking anything from a dream to a reality is making a plan, so that’s what we are going to do. Let’s start by picking a country shall we? Now I already happen to have India at the top of my list, so I shall use that as an example. If you have a few ideas in mind it is probably worth going on to Google and typing something along the lines of “living costs in *country” to get an idea of which option would be cheaper.
The cheaper the place you choose, the more attainable your goal will be – remember, you can (and should) aim to grow your income continuously, and eventually you can probably move around more and get a taste for everywhere on your list – but let’s start off with the easy options…
Once you have chosen a country you should obviously find out a little about the currency, what the exchange rate is and how stable it is. Obviously the more stable the better – your income will be affected by this, so you need to keep this in mind when planning.
Cost Of Living:
Accommodation is obviously going to be the main thing – there isn’t a great deal to do here, but I would start by shortlisting a couple of locations that particularly appeal to you and doing a property search to find out how much rent costs. In my example I can find a decent 2 bed apartment for less than 10,000 rupees per month.
Now this all depends on how you want to live – if you pick the right country there is no reason why you can’t eat out 3 meals a day if you want to – but if you don’t mind cooking a meal occasionally you can trim your budget down a little. There is no easy way to estimate these costs, but if you can, why not take a vacation in your chosen spot to see if you actually like it there? And scope out the costs of food and stuff at the same time. In my example I estimate about 8,000 rupees a month should be enough for 2 people to live like low end royalty.
Once you have churned the numbers, add 10% as a buffer and throw it through a currency converter and you will see exactly what you actually need to earn online in order to live the dream. In my example the total comes out at less than $450 per month! Now that sounds to me like a pretty achievable goal right?
Most ordinary people have incredible dreams which they never fully pursue because they simply assume their goals are unattainable. But as this example shows, you don’t have to be rich, you just need a plan. Figure out what your dream is, how much it’s going to cost and go for it! Good luck.