Being A Digital Nomad With Debt

If you have debt you might think becoming a digital nomad is impossible. With the cost of college skyrocketing and the average American household $137,063 in debt, for many a debt free life is unrealistic. However, this doesn’t mean we shouldn’t follow our dreams. With savvy financial planning, the digital nomad lifestyle is possible even with debt.

Student Loans

The bad news is, no, you cannot ignore your student loans while you are away. If you don’t make payments for an extended time on your travels you loans will go into default and if you choose to return to the US your credit will be ruined and your creditors can take legal action against you. Even if you choose to make a home in another country can you imagine not being able to return home without the banks chasing you, even for a holiday? Not to mention it has been known for student loans to come after the customer’s family when the customer leaves the country and doesn’t make payments.

The good news is it is perfectly OK to live abroad with student debt as long as you set things up correctly. The best thing to do is set your student loans up to autopay and make sure you have enough savings in your US account to cover the payments. This may have an additional benefit - sometimes student

Cleaning up your credit report

Maybe you had a wild youth and have a few black marks on your credit report. Whilst it’s not a good idea to become a digital nomad to escape current problems, there are those who have put their past behind them but still poor credit is discouraging them from making the jump. Luckily, there are many things you can do to clean up your credit report before you go. For instance this content can show you how to remove a charge off from your report. Utilize methods for improving your credit such as by disputing errors, negotiating agreements, under-using your cards and raising your credit limit. It takes some research and work but you should be able to improve your credit report to the point where you can leave the country with minimal worries.

There is no doubt that debt makes the digital nomad lifestyle more complicated but it is by no means impossible. As well as managing your debt, try reading advice on making the financial transition to being a digital nomad to pick up some tips for getting well paid work. If you are prepared and sensible you should be able to experience the joys of being a digital nomad, debt or no debt!


Jenny Holt  is a freelance writer and mother of two. She loves nothing more than getting away from it and taking her pet Labrador Bruce for long walks, something she can do a lot more now she’s left the corporate world behind.

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