Not everyone is ready to quit their jobs, save all their money and live like a nomad for the rest of their lives. We get it, we understand that the majority of people want to live comfortably and still be able to travel. Having financial freedom can assist you in reaping the benefits of a lifestyle that includes travel.
It’s important to have your finances in order to live a life of travel. So the big question is, how do you have a lifestyle to travel?
Disclaimer: The following post is sponsored by Vestabyte and discusses financial investments. The post is not to be taken as financial advice. Please consult financial professionals before making any decisions as we are not authorised to provide financial advice.
One of the major factors in having a cash flow whilst you are traveling is through having a passive income. This can be from setting up a digital store to placing advertising on a blog. There are so many ways to have a passive income but if you aren’t into the creative side and don’t know how to set up a travel blog then where else can you get passive income from?
6 Passive Income Ideas
Sell your photographs online from your journeys abroad
Sell an Ebook about your travels
Rent out your house on AirBnB
Create an online course
Set up a blog, website or online and use affiliate links
Investing in property or businesses
Investing to Receive Passive Income
Investing? Isn’t that something you do when you are old, have your life sorted and a job that allows you to afford investing? Well it’s 2016 and thanks to the digital age we have crowdfunding platforms that can be used by me, you, students, teachers, labourers and anyone who is interested in investing.
By having a product or service for which you have invested in can lead to having a passive income paid out to you on a agreed upon time schedule. This equals a cash flow whilst you are abroad.
Do you get paid monthly or fortnightly? Have you ever had a pay cheque’s received whilst abroad? Think about how good that felt.
Where to Start?
The guys at Vestabyte got in contact with us to let us know about Australia’s first venture crowdfunding platform. Think Kickstarter but instead of just receiving a product at the end of the day, you are investing in the product. I personally felt the big flaw in Kickstarter was that you are technically investing in a company to make the product but instead they reap the rewards of establishing a new business and you just get the product.
So what is is crowdfunding? It’s the practice of funding a project by raising small amounts of money from a large amount of people via the internet. Instead of one person paying $250,000 – 125 people pay $2000 and then split the benefits at the end.
As Vestabyte is still in its new stages, there is one investment currently available in property with a minimum investment of $2,000. If you were interested, or were wanting more information – sign up for free to get updates and future opportunities.
Thanks to Vestabyte for supporting Flying the Nest, as always our opinions are our own.