The best thing you can do while traveling is having your money work for you as you enjoy the world. The second best thing is to make your living while traveling so that you can stay on the road as long as you wish. Read this post to find out how you can do just that.
A passive income is the best kind of income because you do not have to work for it. When you find a way for your money to make more money, like a stock market investment for example, you will want more of it.
There are lots of different passive incomes and some are more passive than others. Lets see what you can do to have your money work for you or how you can make money while you travel:
If you have your own website or a lot of followers on some social media than you can find different companies that works with affiliates. You sign up and the company connects you to a ton of different businesses to market for a cut of their profits that you generate.
It is a great way to make money once you get going but it can be tedious and difficult to start making big money. Starting a blog is one thing but getting a ton of followers and a amount of readers is what it is all about which may take time but if you do it right you really can make money while you travel.
You can also work with affiliate sites to market companies on social media. You can for example post a link to some company in a group on Facebook and any sales generated will earn you a percentage. When you are good at or and preferably also have your own big Facebook groups then you can actually make good money from it.
Most popular international affiliate site: CJ.com
Investing does not need to be as difficult as it may seem. But with that said, do always start with reading up on what you are investing in and learn as much as you can before you get started. The more you learn by reading the less you learn by losing money.
There are many different ways to invest your money and it all comes down to what level of risk you are comfortable with. It foes without saying that you should never ever invest money that you do not afford to lose.
If the stock market is to scary for you then you might want to look into P2P-loans. P2P-Loans are loans between two individuals instead of a loan between a person and a bank. There are many sites that work as a third party that connects you with people in need of a loan.
You can invest your money for rates of about 7-20% per year and it is a great way to grow your cash. If you keep reinvesting the money it grows faster and faster while you can take out what you need while you travel. Mintos is the page to use for P2P-loans but there are also alternatives such as ViaInvest.
You can also do currency trading on the Forex market. There are many different sites for that and I suggest that you study it a bit before you try. The best site for that is SimpleFx. Investments are never risk free but if you do it well then you can make money while you travel.
Do you capture high quality photos as you travel throughout the world? You may actually be able to make a living from selling them online as you travel.
Sites such as SmugMug.com connects you with buyers that need high quality stock photos. If you can produce them then you can start selling them rather easily but of course there is a lot of competition.
So if you love to photograph and got the right equipment then you might just have found the best possible way for you to make money while you travel.