"From tax pressures to backlash against overtourism and rising house prices, it's become increasingly hard to be a digital nomad and successfully manage finances. But there are ways to do it, from navigating tax residencies to wading through changing digital nomad visa requirements and spotting opportunities to reduce the cost of living. World travellers and employment experts shared their advice on how to handle personal finances in this changing landscape."
"Nora Dunn, a 49-year-old travel content creator from Toronto, Canada, has been a digital nomad since 2006. In the past year alone, she's traveled to Peru, Montenegro, Qatar and Tanzania. She's found ways to make her travel and accommodations more affordable, including by housesitting and volunteering, which have allowed her to live around the world for about $17,000 per year. Read more: How to protect your finances amid chaotic market changes She's done so by offering to care for pets, keep a house tidy, tutor, work a few hours a day at a hostel, a farm or a vineyard, all in exchange for free accommodation."
""It's not necessarily the best strategy for somebody who wants to minimise taxes, but it suits me well," she said."
Digital nomads face growing financial pressures from tax rules, overtourism backlash, and rising house prices. Cost-saving tactics include housesitting, volunteering, and occasional paid local work in exchange for free accommodation. Nora Dunn lived worldwide for about $17,000 per year using those tactics and saved over $100,000 on accommodation in her first decade of full-time travel. Some nomads choose to remain tax residents of their home country to simplify filings despite potential tax disadvantages. Navigating visa requirements, understanding tax residency implications, and proactively reducing living expenses can help manage finances while traveling.
Read at Yahoo Finance
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