Personal finance of a digital nomad – 2020 – Full Breakdown
As I did last year, I would like to share with you my yearly financial.
My dad after seeing my first financial reporting advised me to delete my post and never talks about money with anyone. In our French culture, money is a taboo. The final income (income – taxes – expenses) creates jealousy or pity.
- If you don’t earn enough: People think that you are out of the game. “Oh, I thought this guy was doing better…”
- If you earn too much: “Oh, this guy is a scam. He/she shows off.”
I share my costs for two reasons.
- It obliges me to make a correct analysis. How many times do we take the time to check all our expenses? It gives me personal feedback on how I manage my money and what can I improve. I wouldn’t take so much attention if it was only for a personal note.
- It’s to fight a taboo. There are so many people unconscious about their spending and investments.
Finally, I removed the part where I share all my revenues (income as freelancer, shares and crypto). I’m totally open to discussing it, but I’ll follow the advice of my dad. Sharing it publicly will bring more drawbacks and anger than benefits…
Costs breakdown
I lived in 3 different countries and spent 12 570 €, 1047 € per month.
Comparison with last year 💸,
- 📈 Accommodation +1000 €
We stayed longer in Belgium where accommodation is more expensive.
- 📉 Less cash money –4000 €
In 2020, I tried to avoid cash. This way, I know where I spend my money. Hopefully in Europe, Mastercard and Visa are widely used.
- 📉 Less cash plane –500 €
Less travel this year due to COVID19. Moreover, I desire to privilege eco-friendly ways of transportation.
- 📈 Salsa & Dances + 400 €
Even if I danced less this year, I’ve spent more on it 😅. I took a lot of salsa caleña classes in Cali and hip-hop in Brussels. Many classes have been reported to 2021.
- 📈 Board Games + 461 €
I broke my minimalist rule with this 2020 obsession. Yeah, I needed this during this monotonous period.
- 📈 Health + 400 €
Masks, medicine, consultations, health insurance etc. In 2020, I was more conscious due to COVID19.
Expensive things that were totally worth it
- ✈️ 600 € — Repatriation from Peru (plane, Belgian embassy hotel and bus).
- 🛕 344 € — Machu Picchu for 2 persons (a gift for my birthday and Xmas).
- 💃 140 € — Hip-hop classes, one-month all-in
- 🧥 133 € — A warm black jacket.
- 💻 90 € — Udemy classes (digital marketing, data sciences, etc.)
Total expenses per country
This is not 100% accurate, because I simplified a lot. It gives insight 😊.
2021 I can do better
- Eat fewer junk foods. 2020 was my transition to a vegetarian diet (with some exceptions ^^). 2021 will be a year for healthy food. Drink more water. Eat slowly. Avoid fast-food. I can save up 500 €.
- Rent objects. I don’t need to buy Xbox and many games. Just a small evening with bros it’s enough. Same for board games etc.
- Fewer business costs. I’ve spent a lot as a freelancer to run my small business. I should be more aware of the costs of software, hardware, servers, etc.
A quick word to finish
Because I will never inherit a fortune or because my parents didn’t give me a penny, I have been proud of my path until now 😎. Since 2017,
- I realize a dream and travel the whole world.
- I work with entrepreneurs that I love and admire.
After COVID19, I stay pessimistic about the future of my generation. We are financially fragile. Invest in your future and retirement scheme. Enjoy life fully because tomorrow will certainly be tougher.
How did your year look like? Are you proud of your financial achievements?
