The "Digital Financial Nomad"
I’m designing a budget for the first time. Prior to this I haven’t really budgeted my life. I’ve always been aware of my monthly cashflow surplus or deficit, but never concretely wrote it out week to week or month to month.
The inspiration? The world has changed since the internet and Covid has only changed it faster. Now with remote work opportunities, humans can earn an income across the world. Employers have realized that work can still be done at home, just as efficiently as in the physical workplace. As Covid numbers recede and more people get vaccinated, employees will have to think about where and how they want to work. This will give rise to the digital financial nomad.
This new digital financial nomad will earn income digitally from multiple sources across the world. Therefore s/he will need newer and better tools to navigate the world as they balance both work and travel. New tools will include financial and travel apps that budget out future goals.
I’ll share an excel template online. This will be a simple budget at first that I plan to build out slowly. This will include goals and places I plan to visit in the world. Each goal will have a specific future date and financial cost that I plan to save and invest for over the time period until that financial goal is reached. Maybe this will turn out into something more, we will see, but this is good first step into this new digital world.