Wondering how to earn money while travelling the world? These tips can help.
European markets inched cautiously higher on Monday, with investors responding positively to unexpected (albeit marginal) growth in nations such as the UK. Despite travel and leisure stocks declining by 0.7%, the global market has picked up of late, as international borders continue to reopen fully in the wake of the coronavirus pandemic.
If you intend to get out there in 2023 and want to earn money while travelling, here are some ideas to keep in mind:
#1. If You’re Financially Literate – Consider Trading Forex
For those of you who are financially literate, there may be a unique opportunity to earn passive income as a forex trader.
While the forex market is an inherently volatile and complex space, it can be navigated by seasoned investors and individuals with knowledge of the financial marketplace and a keen sense of determinism.
Forex is also a speculative marketplace, in which you can trade individual currency pair price movements and leverage short-term volatility to your advantage. This is highly beneficial for knowledgeable investors with an appetite for risk, while forex can also play a key role in diversifying a much broader portfolio.
Finally, forex traders can use margin accounts to access leverage and open positions that are disproportionately larger than your initial deposit. This can lead to significant returns, although it needs to be managed carefully as it may also trigger equally sizable losses.
#2. Become a Freelancer or Switch to a Remote Contract
If you have a well-paid job or in-demand skill and want to leverage this when working abroad, there are a couple of methods that may help you to achieve this.
Your first step is to liaise with your employer if you can switch to a remote working contract, which will enable you to operate outside of the workplace and while you travel to one location or another.
Conversely, you could also switch to becoming a freelancer if you have a marketable skill such as copywriting, enabling you to take on clients and work with complete freedom (so long as you observe the relevant tax laws in the relevant jurisdictions).
#3. Teaching English and Other Manual Jobs
English is the single most spoken language in the world, with more than 1.1 billion people (or 15% of the global population) currently speaking this as either a first or second language.
Make no mistake; the demand to learn this language remains high across the globe, and certain areas of Southeast Asia (and similarly developing economies) are in constant need of native English speakers to help teach people of all age groups.
While some jobs of this type may require you to have a teaching accreditation, others are more accessible and available to anyone who speaks English fluently and is willing to undertake the role.
In terms of similarly manual work, you could also consider house sitting or working as an au pair to a particular family. The latter will require prior experience or qualifications, while you’ll have the opportunity to live with a family and immerse yourself in the surrounding culture while saving money on accommodation.
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