🧑💻 Entering the age of the digital nomad
PLUS how to manage finances traveling full time, Lumbergh of the week, 500K free flights, Bali traffic jams, and more!
Hey, remote work fam! This is Remote Insider your favorite spot to get up to speed on what's going on in the world of remote work and digital nomadism. In this email, we talk about...
why we are entering the age of the digital nomad according to economists and strategists
Lumbergh of the week: pickleball in offices
Slack’s new ChatGPT bot
traffic jams in Bali
But first, have you ever wondered about the best way to manage your finances when your cost of living can change dramatically as you travel from location to location?
The answer is simpler than you think…
💰 As a Digital Nomad Think in Terms of Funds, Not Budgets
How do you manage your money and budgets when you travel on a regular basis and the cost of living changes from month to month?
The answer is to think in terms of Funds!
Unlike budgets which are set based on a fixed cost of living, funds have the ability to roll over.
If your Rent Fund is $1500 per month, but right now you’re in Chiang Mai where your rent is only $700, then the remaining $800 stays in your Rent Fund.
This way when you travel to Singapore the following month and your rental costs go up you will have $2,300 available.
Alternate your travel from affordable locations where your Funds can fill up to more expensive ones where you use your saved-up Funds and no place will ever be too expensive!
💡 Busting Myths About Deglobalization And What It Means For Digital Nomads
Since COVID many economists have predicted the end of globalization as more countries focus on local production, which can have worrying effects…
For one, globalization ensures that countries rely on one another for trade so it promotes stability and security which is one of the pillars on which global travel and the digital nomad community are built on.
However, renowned author & geopolitical scientist, Parag Khana says globalization is not only alive and well, but growing!
While countries are making moves to secure local production, each local production move creates 2 moves supporting globalization.
To 3D print things at home, for example, you must buy a machine produced in Germany, and filament likely made in Asia, with raw material sourced from South America.
In addition, globalization is not only about the trade of products, says Khana, but about the mobility of people…
And people have never moved more freely across borders than today. In fact, 2022 saw a record number of cross-border movements.
The newest population projections hint at a looming talent shortage, meaning that young people with skills (like digital nomads) will have more individual power than ever as companies and nations alike compete for them.
Check out the full interview with Parag Khana to learn more about why we are entering the age of the digital nomad.
👔 Lumbergh of the Week
Seth Besmertnik, CEO of software company Conductor, recently signed a lease on a new NYC office space despite (according to him) that his employees want flexibility. But he has a plan…
Conductor also has a “YOLO Month” during which offices are closed and employees are allowed to work from home or travel.
What we don’t understand is if the company doesn’t fall apart during that month… why not just do a YOLO Year 🤔
🚨Word on The Web is…
🗺️ Free Travel: Hong Kong is giving away 500,000 free flights to boost tourism
📈 Mobility: The digital age requires a new kind of economic development, and remote work is the answer
🤖 AI: Slack’s new ChatGPT bot will talk to your colleagues for you
🙅 Return to Office: Even amidst layoffs, employees are pushing back on RTO mandates
📱 TikTok has launched a new work trend called Bare Minimum Mondays
🛵 Bali Traffic Jams
We all know Bali is a popular destination these days… but it might be getting too popular:
📆 Upcoming Events:
April 25-26: Running Remote [📍 Lisbon, Portugal] - Largest remote work conference in the world for enterprises and SMEs
May 24-28: Vivel [📍 Multiple Locations, Turkey] - networking meets music at this one-of-a-kind conference for location-independent professionals
June 16-19: Camp Indie [📍 Kent, Connecticut] - adult summer camp & conference for digital nomads & those living an unconventional life
June 25-July 2: Bansko Nomad Fest [📍 Bansko, Bulgaria] - for digital nomads, freelancers, and founders in the mountains of Bulgaria
⭐️ This Week’s WFA Job:
Our friends at RageCreate are hiring for a part-time Project Manager to help speed up processes and projects!
The position will include scheduling projects & deadlines, managing internal systems & content creation schedules, and helping come up with new product ideas.
Required skills include a fiery personality that’s not afraid to keep people accountable and some prior experience with project management.
This is an hourly contract position with pay rates depending on experience level and the ability to work from anywhere!
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That's it from us this week, hope you have an amazing day!