How to Survive a Loss of Income

If you think this can't happen, you will be not the first and the last who has faced serious (financial, health or natural disaster) problems while living, traveling and working abroad.

Whether you lost the only one income source, or face serious medical issues, natural disaster or encounter a political instability abroad, having Plan B, Emergency Preparedness can help you...

Loosing the only one income source (job or contract)

According to a Bankrate survey on Forbes, “63% of Americans don’t have enough savings to cover a $500 emergency.” To truly survive a loss of income, you’re going to need far more than that.

  • First, acknowledge that no matter how secure you feel, your source of income is not 100% fixed.
  • Second, designate a savings or money market account at the bank for emergencies only and agree that you won’t touch it.
  • Third, save at least $1000 as fast as you can.

Before You Jump Into Digital Nomad Lifestyle Prepare Plan B 

  • Have enough savings 
  • Create emergency fund
  • Secure multiple income sources
  • Connect With friends or community on-site
  • Return home flight ticket as a last-mile back-up plan
    Build an Emergency Fund

    There are multiple options available to help you build an emergency fund from scratch. Withe the right tools and a little extra elbow grease you can build a cushion should you ever be faced with an unexpected expense.