Five Financial Moves That Enable Me To Travel the World at 27
Maybe this can help you?
I fell in love with travelling five years ago. Before that, my parents took me on holidays, but I was always so impatient on the road and didn’t enjoy long journeys.
Even when we travelled abroad, I liked it, but I wasn’t in love with it. It didn’t set my soul on fire as it does now.
In 2017, when I studied for my Master’s in England, the world felt closer to me. Europe was an hour away by flight and travelling was much easier with the convenient train system.
So I kept saving my pocket money for short travels. With that, I travelled solo to around ten countries.
Once I got back to India, I knew I have to make things happen somehow so I can travel the world.
My plan was to become a Vice President in a role that needs travelling. One of my friends was a VP (she was also double my age) and had travelled to over 30 countries because of work.
That sounded like a dream!
But once I joined the corporate world, I realised:
- it’ll take decades to reach this far
- it’s not easy to find such a role
And then, the pandemic happened.
I started reading stories of other people around my age who are doing well in life and doing what they enjoy. So I side-hustled as a writer for 9 months and then became self-employed.
Of course, life had different plans. While I quit to be a freelance writer, I eventually became a creative entrepreneur.
Last year, I visited 6 countries and so far this year, I’ve visited 4 until July. Here’s what helps me do this.
1/ Earning more
This is a no-brainer. My <$1000/month salary in both my previous jobs could definitely not enable me to sponsor my holidays.
I started earning more first by freelancing alongside my corporate job, so that was over two sources of income as I’d have multiple clients.
Once I became self-employed, I diversified my income streams into
- freebies (with pay-what-you-want option)
- digital products such as ebooks and courses
- cohort-based course
- writing on Medium
- affiliate income
- sponsorships
The sponsorships are only happening now because I’ve grown so much on LinkedIn. For instance, because this month I was on vacation, I have money coming in via
- Medium
- free webinar with ‘pay what you want’ option
- sales of my Medium Guide via the webinar
- LinkedIn sponsorships
So when one source falls, others usually save me.
2. Shop during sales
I don’t see the point of buying clothes full-priced unless absolutely necessary (which is rarely the case).
I shop during sales or at the outlet.
For e.g., in Canada, I bought 5 working-out shorts for CAD $15. In India, it costs double the price. Most of my workout wear is from outlet malls abroad. Of course, I do have the privilege of my family living abroad who can get this me.
I buy all brands at a heavy discount, and even for clothes from H&M, I usually shop during sales.
3. Investing — Part 1
I know it sounds stupid to spend thousands of dollars on online courses, guides, and books. But these thousands help me make tens of thousands back! So it’s an investment for me.
People shudder to buy a $20 book but will spend that much at Mcdonald's.
People overthink when buying a $500 course but spend that much on things they don’t need and that don’t improve their life.
I say — put money in what makes you money back. It’s that simple.
4. Investing — Part 2
Because I’m clearly not living a minimal lifestyle as I spend so much on travel, I invest a huge chunk of my income every month, so my 40-year-old self is financially secure.
I invest in stocks, mutual funds, fixed deposits, etc.
I’m yet to invest in gold, though.
I have a bit of savings but now I’m sweeping that away so I can invest more. Many of my investments are cashable so I feel there’s no point building a large chunk of savings because the value of that money sitting in the bank will only go down with inflation.
5. No big lifestyle expenditures
I don’t eat out over once a week and I rarely drink outside — both things that cost our money and health.
I don’t buy things often. I don’t drive a big car. I don’t really have any major expenditures apart from learning and reinvesting in my business using software I require.
I make a huge trade-off with my social life, which is by choice because I don’t enjoy being very social. And that leaves me with enough money in my kitty to use for things that matter.
I hope this gives you a perspective on things that help me. None of them are exceptional life lessons, but they are simple steps that enable me to pursue what I truly love.