Times are a changing and paradigms are a shifting. One rising trend is that of the digital nomad. Armed with wireless internet, their smartphones, tablets, laptops, cool travel bags, and their wits digital nomads work remotely wherever they decide to live or travel. As long as you can do/submit you work via the web, these days you can roam as freely as your hearts content. Add cool services like Airbnb and Turo, and you can find an affordable place to stay and a car to get around pretty much wherever you go. Digital nomads also make use of coworking spaces, cafes, house sitting agreements, and shared offices in to do their work. It's really up to you to get as creative as you'd like. So what do you think? Could you be a digital nomad? Before you start dreaming of filling your Instagram feed with pictures of you and your laptop in exotic places, let's examine so of the pros and the cons of the digital nomadic lifestyle.
The most obvious advantage to the digital nomad lifestyle is of course the ability to travel freely. With no brick and mortar location to tie you down, you're free to work anywhere you can get yourself set up. There's also the freedom from a rental agreement. What most people find they dislike most about their jobs is not the work itself, but rather the work environment, the co-workers and the management. Being a digital nomad offers recompense from what has become the standard stale office archetype. Traveling often means you're also getting accustomed to new cultures and worldviews and new environments. Seeing more helps to expand perspective and creativity. With proper budgeting and taking advantage of travel and lodging savings programs, you can begin to build savings to invest in your business and to enjoy and experience more life.
It's not all sunshine and rainbows on the digital nomad trail. Being far away from friends, family, and familiar environment can be difficult. You will have to adjust to different laws, customs, time zones, and life philosophies. Majority of digital nomads rely on wifi to get their work accomplished, and there are times when travel can present a difficulty finding steady, reliable wifi. Your most constant and heaviest expenses will be food and lodging, and it works a little differently everywhere you go. Perhaps the most difficult aspect of digital nomadic life is maintaining your work leisure balance. Traveling in and of itself can be exhausting and of course you'll want to explore and enjoy your new environments. Finding the ideal balance between work and play is the most quintessential element in in making the lifestyle work and be enjoyable.
Being a digital nomad is not of everyone, but if you find yourself intrigued it can provide a very rewarding alternate lifestyle. Some people prefer the security that a stable 9-5 brick and mortar career offer, but as the world changes and paradigms shift, new opportunities are opening up. It's on you to do your due diligence and decide whether life on the road is for you or not.
What is Robinhood?
The Robinhood app debuted in 2013 as a first-of-its-kind revolutionizing free investment platform. Much like the 700-year-old story of the hero to the people, Robin Hood, FinTech entrepreneurs Vladimir Tenev and Baiju Bhatt created the platform in order to make stock trading easily accessible to the general public and not just the wealthy.
The National Financial Educators Council (NFEC) surveyed young adults in 2017 and asked them what high school level course would benefit their lives the most.
The majority responded that money management was the course that would be most beneficial.
With personal debt is at its highest record and COVID-19 threatening to have the hardest economic effects on youth, understanding money and finances is an important life lesson that should be taught to children at a young age.
The following is a list of the best financial literacy lessons and tips to teach children throughout different life stages.
I thought I had a pretty good handle on my finances out of school. I worked several jobs while attending university and had little to no problem managing my income. However, once I graduated, I realized how much more complicated personal accounting could really be.
There were so many variables I needed to keep track of. Biweekly bills, monthly charges, and general necessities amounted to a heap of confusing numbers that were often impossible to decipher. The funniest part was that I was actually trying to do this by hand (I don't know what I was trying to prove to myself, either).
After messing up for the 17th time, I decided to give Microsoft Excel a shot. I used Excel a bit in school and I knew all the big-wig finance people used it, so what could I possibly have to lose? The answer is about six hours of my precious time. Excel isn't much of an improvement over handwriting and it's still dependent on the user to manually input all of the information. It's like doing everything by hand with the slightest help, meaning that it still required a tremendous amount of time and concentration. Well that was all for nothing, I guess.
It's sort of funny. I was certain that I could manage my personal finances with ease, when it's practically a full-time job. I was already stressed out enough with my first job and I knew I didn't have enough time to give my finances the attention it deserved.
That's why I decided to try out a budgeting app. My best friend told me that he uses an app called Truebill to manage his finances. "What does it even mean to manage your finances?" I asked him. He told me that Truebill was the personal financial assistant I wished I could have. It could aggregate all of my account information into one place and give me specific insights and actions.
I loved the idea of having full control over my finances, especially during a time of financial uncertainty, and I realized that Truebill would be the easiest way to accomplish this. The user interface is incredibly simple and intuitive, so it doesn't even feel like a finance app! Truebill offers a multitude of features, with their most popular being the ability to cancel subscriptions with the press of a button.
Okay, I had no idea how many subscriptions I was still subscribed to. In fact, I wasn't even using a quarter of the subscription services I was signed up for. Subscription boxes, streaming services, my old gym, and even an old subscription to my favorite magazine--it was all there and I was livid. How could I let myself waste all of this money and how did I never catch this? Thank goodness for Truebill.
Truebill also offers bill negotiations. There is a 40% fee based on how much you save and Truebill even claims that there is an 85% chance that they'll be able to lower your bill once a negotiation is requested. Why wouldn't I take them up on this? There was zero risk and I would only have to pay once my bill was lowered (which means that I would be saving money regardless).
More standard features of Truebill include the ability to generate a credit report on-demand and even request a pay advance. I only used the pay advance feature once when I wanted to buy a gift for my mom, but didn't have enough cash in hand and Truebill automatically reimbursed itself when I got my next paycheck.
The credit report is another fantastic feature and practically taught me what good credit meant. Truebill's credit report basically shows you which financial decisions have the most significant impact on your credit score and ways that you can improve your credit month-over-month. I've never had such control over my credit and it feels good.
I'll be the first to admit that I was extremely naive coming out of school. I figured that as long as I was attentive, I could manage my finances with ease. We manage money to some extent throughout our entire lives, but once you're thrown out on your own, it's a completely different story. With Truebill, I've finally been able to take control over my finances and stay on top of all of my responsibilities.