Does being a digital wanderer conserve cash? It depends upon where you go

Sipping a cold pint of beer in Budapest can cost $2.

Dinner for 2 in a bar in Prague? About $22

And a month’s leasing for a smooth studio home in the center of the Portuguese city of Porto can set you back $650

With these sorts of living expenses, it’s not a surprise that numerous are lured to move overseas.

Needless to state, that’s not constantly the case– in some cases moving overseas is more pricey. CNBC Travel speaks with individuals with various experiences.

Originally from Romania, Irina Papuc is a co-founder of the digital marketing firm GalacticFed She stated she’s taken a trip to more than 40 nations as a “digital nomad” while growing business.

She has the ability to conserve cash since she has actually accepted a design of travel that lessens costs while on the roadway, she stated.

“I prefer to choose a few high-quality experiences instead of constantly moving around. Slow travel, namely spending more time in one place, allows you to save a ton of money, because it’s usually the transport (plane tickets) that dry out the bank account.”

She includes that consuming regional food, welcoming “couchsurfing”– which she refers to as “the best way to meet local people and not pay any rent at the same time”– dumping expensive co-working areas and hitchhiking are all terrific methods to conserve cash.

As for which puts deal the very best worth, she mentions Nepal, Thailand and Taiwan.

“On average, when trekking in Nepal, I spent around five dollars a day, including all food and accommodation,” she stated.

Born and raised in the United Kingdom, Courteney Richardson-Hicks now lives as a digital wanderer in Europe.

“I’ve actually managed to save quite a lot by traveling, certainly more than if I lived in the U.K.,” the marketing material strategist stated.

She informed CNBC about a side gig she found that features a complimentary location to remain: pet-sitting.

“This is one of my favorite ways to travel as I get to spend time with animals,” she stated. “My only costs for that month are food, transport and any extra activities I want to do. For example, I stayed in a beautiful villa in Cyprus for seven weeks looking after cats.”

She stated her nomadic way of life permits her to conserve a minimum of half her wage.

“If I compared it to London, I would probably be paying the same for a room in a flat share as I did for a whole one-bedroom apartment with sea view in Madeira, for example,” she stated.

Her recommendations for individuals who wish to emigrate and conserve cash? Try Poland.

“Of the places I’ve been in Europe, one of the best value for day-to-day expenses was Poland,” she stated. “The accommodation and eating out was really good value for money.”

“Also, Poland is really beautiful, and the people are so kind and friendly.”

Taryn Elledge-Penner and Martin Penner, of the shop travel bureau Quartier Collective, presently reside in Bali with their 3 kids. The household has actually resided in almost 20 nations given that very first striking the roadway in 2018, stated Penner.

“Is it possible to save money compared to the U.S.? Absolutely, for sure,” he stated. “But in the last 18 months we’ve noticed a price increase in short-term rental options.”

Despite that, he stated his household can still conserve since they aren’t pushed for time: “We’re lucky to have time as a resource and can be flexible with where and when we go.”

Elledge-Penner encourages those who wish to conserve cash to prevent Europe in the summer season. Instead, enter the shoulder or off-seasons, she stated.

Penner likewise mentioned that some things are more pricey than back house. “There are a lot of things you don’t pay when on the road, but then we spend $15k a year on flights,” an expense he stated they would not bear back in Seattle, he stated.

For those who choose a “turnkey” technique to Bali, Boundless Life is introducing its very first program there in July, stated the business’s head of need generation, Elodie Ferchaud.

The business has six-week and three-month programs that numerous households integrate to remain abroad for longer durations, she stated.

The three-month program expenses around 2,100 to 3,500 euros ($ 2,214 to $3,690) a month for a provided house, consisting of energies and weekly cleansing. Schooling costs 1,500 euros per kid each month, and neighborhood work areas run an additional 425 euros each month.

All informed, costs can run north of $8,000 each month for a couple with 2 kids, the business stated. Boundless Life likewise runs programs in Greece, Italy and Portugal.

American Erin White has actually had a various experience.

White resides in Marylebone in main London, where she works as a vice president for sales efficiency at the California- based HydraFacial business.

She transferred to London from Connecticut to accept a brand-new function at the business, so her choice to move overseas “was both a career and a financial one.”

But has she conserved cash?

“Not at all! It is much more expensive to live in London,” she stated.

“Rents and the property ladder are super expensive. You don’t have the option of a 30-year fixed mortgage here — they are more like our ARM mortgages. I rent a basement 2-bed, 2-bath and it’s over 3,500 British pounds ($4,140) a month, plus I pay the council taxes, a TV tax” and more, she stated.

She includes that despite the fact that she resides in London, “You are sort of a tourist too, so you want to take advantage of things like visiting other countries on the weekend and holidays.”

But the lease isn’t the cost that has actually amazed her the most, White stated.

“For me, it’s the cost of personal maintenance here … nails, hair, waxing, all the things a woman needs to do are sometimes two to three times more than what I paid in the U.S.”

Her workaround? “I always make sure to take advantage of these services when I’m back in the States.”