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I was wondering what systems/apps etc people use for tracking their living expenses? I try to keep records but find that some months I prepay for a lot of future expenses (eg. Airbnb, flights etc) while other months I spend little because everything has already been made.
I guess what I need to know is my actual spending in a month, regardless of when I actually spent the money but also the cash flow for each month.
We have been using Expensify app. It has a free version, but we pay $5/month for more features. It scans paper receipts OCR and auto categories and even convert currencies automatically. Then we export to a spreadsheet to our bookkeeper.
Weโve used travel wallet for the last year and love it. We add out accommodation costs at the beginning of the month, then add daily expenses as we go. Super easy.
I use an old fashioned spreadsheet and put expenses in for the month theyโll apply to rather than the month they were paid (e.g. August rent goes under August even if I pre-booked and paid in April).
Itโs a good way to do it but I want to know both, mostly because I have months were I freak out about the change in my total money, then realise Iโve paid for a flight, booked some Airbnbs, had a few other big future expenses.
I used to have a system where I paid myself a salary each month and kept that in a separate account. I think Iโll go back to doing that.
Not happy with current finance tracking applications, so creating something custom what works better for me. One of the problems is single time long-term expenses, which Iโm thinking about solving (if needed) by splitting in into multiple months. So, you could try to guess in how many smaller expenses you could split it into, and balance over multiple months. Might not be the most exact expense tracking, but it would avoid those big spikes when planning for something in the future.
We track โeverythingโ in Quicken. Weโve been using it for so many years, so we have easily two decades of data data to go back on for data mining and comparisons. We use โtap to payโ or โcontactlessโ (android pay) when ever possible to cut down on paper receipts that need to be scanned before destruction, but otherwise we almost never use cash to make it easier to track everything, and we always scan/pdf save each transaction for cross referencing.
I think a new more and online system for users is something like mint, to do this type of tracking and reporting of budget, spend, and actuals. I donโt keep our records online so weโve kept the old system in place.
As for your original question, about tracking pre-paid stuff, we just separate out the expense in the ledger when necessary to show the cost of an item that was prepaid or covered multiple months, like our 6 month rental contract. You can make a place holder item for the original transaction, then another place holder for the month where the money should be applied/denoted, calculated.
Once the data is recorded, itโs super simple to check budgets, estimates and run reports. Iโd be interested in hearing if anyone else is using such a system.
Iโve struggled with this a lot myself.
What I do is create a โmonthly burn rateโ where I estimated how much money I spend in a month by totaling everything up. Then I can just look at my bank accounts and see how far off I am. If Iโm far off, then I need to dig into the account to see what purchases I made.
Hi everyone,
I would love to hear what you'd like me to build next on Nomad List, or any other product/feature feedback ideas you have.
It's been 6+ years now but I'm in this for the long term and with the boost remote work got last year it's even more exciting to work on Nomad List than ever.
Current roadmap is here: twitter.com/levelsio/status/1363204985488572417?s=20 and pbs.twimg.com/media/EusS9PKXEAUR8xp?format=jpg&name=4096x4096
The next products/features I have planned:
- ๐ Rebase: visa, residency and immigration services for remote workers
- ๐Courses: learn the steps how to go remote and travel/relocate
- ๐ Gov liaison: diplomacy services to the governments to help us lobby for nomads and for them to attract remote workers
Thanks a lot!
What are the best places right now in the Caribbean/LatAM? (Also cheapest flights/accommodation?) Asking from the US.
As part of signing up for this website I was hoping I would come across a list of Visa and/or Residency requirements by country ideally in a table format to assist with decision making. Does anybody recommend any other websites that might present the information in this format (or Google Spreadsheet)?
I love living in walkable areas of town. I can always find them. But now I'm wondering where in the world are the most walkable places? I'm imagining walk streets (no cars), zoning allowing both business and residential, parks or beaches ,etc.
Hi guys,
After the Netherlands, the Bay Area, Colorado and being on the van life for 8 months, I am now in Sedona, AZ with a few other digital nomads. We are sharing a home here and are wondering if there are more like minded people in the area.
We do a bunch of hikes and campouts in the northern of Arizona. If you would like to connect with us, please do so :)
Val
Has anyone figured out a way to get setup with a virtual number and internet connection anywhere you go?
Hi everybody. I live and work in Germany and want to go to Canary Islands for 6 months to work from there. I'm going to keep my current job, just change the "home" in the home office part of things. Are there any tax issues I have to be aware of? I was reading about becoming a residence after 183 days, thus having to pay taxes there plus my employer having to register there. Does anybody know how it works exactly? Thanks a lot!
Winter is coming and Iโm feeling the ache of travelling after being stuck in the same place since the Pandemic started. Wondering if anyone is travelling right now? If so, where are you currently located and how is the situation where you are?
How do you guys deal with the dreaded โproof of addressโ for banking and investing and other random stuff?
I donโ have the option to have a family member do this for me, sadly (not wanting to use that country as residence for tax implications).
This has to be a pretty regular problem for most who arenโt doing the old timey โlive in one place and pay bills there foreverโ thing. Suggestions? Services? Hacks? Workarounds?
Hey guys,
My question might be blunt ahah but โฆ how do you get your stuff stolen?
Do you stay in hostels, or shady hotels? Or do you get robbed?
I stopped using hostel with outsiders and I pretty much only use budget hotel now.
I have heard about an app that take screenshots of your room and send it to you if it detects movement too so you can alert the hotel staff.
I donโt want to make everybody paranoiac too ;).
I often spend upwards of $150 per month in coffee shops, where I do much of my (remote) work (25+ hours per week). Since I donโt pay office rent, I perceive these expenses as replacing my fixed rent costs, and I tend to spend more money at coffee shops when Iโm camping out for a 2- to 4-hour work session, so these expenses strike me as legitimate business expenses. Has anybody gone down this road with the IRS? Is anybody aware of any official guidance or precedence for this?
I was wondering if anyone knows a website to keep track of the hotels I have stayed in, I really like to keep track of everything. I have a couple of websites to track each flight I took and was wanted to see if there is something similar but for hotels.
Hi there!
Iโm going Nomad in about 3 months. Mainly Iโll stay in some places for at least 1 month, but Iโm planning some backpacking trips in between movings. So Iโm planning to travel carry-on only on this trips. But I also would like to carry with me some non-indispensable stuff that helps me to keep up with my lifestyle and work on the places where Iโll stay for a longer period. For example a blender, coffee and an Aeropress to prepare my bulleproof coffee. Also my guitar, some camera gear, a good quality screen to work, etcโฆ
Except for the guitar, everything fits into a medium size luggage.
I know I can check in this stuff when moving. But if Iโm going to backpack I donโt want to carry this stuff around.
Iโm a newby on this lifestyle so any advice is welcome 
. Many thanks!
First post here, so be gentle 
I am a half time digital nomad with a US tax home and tax season is coming up. Many of my travel expenses are legitimate business expenses and Iโm sure others here have similar circumstances. I have a tax guy Iโm generally very happy with and their advice is for me to deduct per diem meal & incidental expense (M&IE) rates as posted by the GSA for business travel days within the US, but actual M&IE for business travel days abroad since my out of pocket expenses beyond air / lodging tend to be much much lower while overseas. The logic seems solid, but it seems odd to approach deductions for domestic / international travel completely differently.
Generally, my nicer meals abroad tend to be either comped (press visits) or included in my lodging expense (hello executive lounge). Iโm sure many other digital nomads fit a similar profile.
Iโve seen a number of resources that emphasize that spending less than the GSA/DOS per diem on meals and incidental expenses effectively gives you a free tax break for being frugal. For this reason (and despite my tax guyโs advice) Iโm finding it hard not to claim the full per diem amount while overseas. Iโve been in some very expensive locations with very high per diem rates per the Department of State including London, Paris and Dubai that would make for large deductions .
My question for the other digital nomads here with US tax homes is: how do you handle deducting your business related travel expenses? If you were in Dubai on business for a full day and the Department of State per diem meal and incidental rate was $183 / day, but you only paid $20 for food and $10 for cabs - would you still deduct 50% of $183 for the maximum benefit? If another member of your business was travelling with you would you deduct 50% of $183 x2?
Hey everybody! 
The questionsโฆ How do you deal with stuff you have to buy but wonโt carry? Is there a better way that you already apply for you?
And here is the context to help you answering thoseโฆ
I usually get semi-furnished apartments where Iโm staying and I often have to buy stuff like kitchen utensils, some bed sheets and even pillows sometimes. All things that I have to leave behind what I cannot sell in time so I just got used to count these expenses as part of my stay (e.g. if I bought 200 USD of stuff and will stay 4 months then this adds 50 USD/month of expenses). But I think that is very inneficient. The problem clearly summarizes in: Thereโs stuff I need to use almot all the time Iโm staying in the place, canโt sell it too much before leaving but wonโt carry the stuff with me.
Thank you and have good travels! 
Hi, all
Forgive me, as am not one for brevity. Like so many, Iโve been thinking a lot about being a digital nomad, and find myself in a good position to go for it (better position than most who are considering it, I think), but am still not sureโฆ how/where to start.
Background: In July 2013 I left my home country for long-term travel for the first time. I found out, though I was already 35 at the time, that I was still eligible for a working holiday visa for a handful of countries. I was accepted to New Zealand. So, I quit my job, gave up my apartment, sold or gave away what I could, and have some stuff stored with family. I spent three months in SE Asia then 13 months in New Zealand. Though my background is communications, in NZ I worked in tourism/hospitality which was a fun and refreshingโif low-payingโchange of scenery.
Now Iโm in Cambodia working in communications for an NGO for six months. I only receive a small monthly stipend but Iโd always been curious about NGO work and with the low cost of living here plus some savings built up I thought, why not?
Not content to watch my nest egg slowly drain, Iโve been looking into some freelance work on the side, mostly in writing which seems to be the most common freelance work available based on my background/experience. I also thought now would be an ideal testing ground for freelance work due to my savings plus low overhead
My NGO gig ends in June and Iโd love to stay in Cambodia longer, but not overly keen on the 9-to-5 and would love an alternative (either as a telecommuting employee, freelancing, or a mix of both). Even though I made the hardest choice in 2013 with quitting my job and all that and Iโm now based somewhere where I can live off a low income for awhile, I donโt know how or where to start.
Due to the โsabbaticalโ (ie. travel then time in NZ) and in my last few jobs not doing much writing outside of social media content, my writing portfolio is quite dated, which is not helping prove my writing abilities. Also, being in-house so long, I donโt have many contacts that could become potential clients. I actually prefer editing, but the consensus out there seems to be that if the writing is good, then an editor is not needed so thereโs less editing work as far as I can tell.
Oh, I should add my comms experience has been in the not-for-profit sector predominantly, so no experience writing marketing- or sales-type copy designed to sell products or services (though certainly willing to try). And one last thing: Iโm not an overly confident person, so selling myself does not come easy which is certainly not helping in trying to get work. Some days I feel defeated and that this concept of being a digital nomad is just not attainable for someone like me.
If you read all that, thanks! Tips / advice / suggestions / thoughts / slap upside the head?
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