Sitting in the airport waiting for my flight to Hamburg, I’ve got my laptop out and a strong cup of coffee while others are enjoying a quick drink. This is pretty common for me as a travel blogger; I work whenever and wherever I can, and airports have become one of my favorite places to get things done. With two little boys at home, airports also offer a bit of peace and quiet.
I travel about 18-20 times a year, visiting a variety of places from Japan to Jersey, Brussels to Bali. I aim for one trip a month with my family and another with a colleague, along with a few press trips. When I’m not traveling, I’m busy at home with my kids, living a normal mom life. My partner, Sam, works in construction three days a week, which allows us to spend long weekends together either traveling or enjoying time at home.
I feel a bit uneasy writing this because it might come off as bragging, which isn’t very British of me. But I’m proud of what I’ve achieved and how I’ve managed to earn a good living working less than the typical 40-hour work week. This realization hit me during maternity leave when I noticed I was making the same income working just 10 hours a week as I did full-time. Working smarter, not harder, has allowed me to sustain and even increase my income over the years.
My income now includes a house, a new car, and even a mobile summer home in Wales. Contrary to what some might think, this lifestyle isn’t bankrolled by anyone else. Sam and I prioritize spending on experiences rather than material things. We don’t have the biggest house or the flashiest car, but the trade-off of part-time work and frequent travel is worth it.
So how do I manage to earn money without the 40-hour grind and afford frequent travel? I rely on passive income and careful financial planning, and I’ve partnered with Experian to share more about this.
Passive Income
Passive income is money you earn without having to do much ongoing work. Setting up passive income streams requires a lot of effort initially, but once established, it provides ongoing revenue with minimal maintenance. Common examples include renting out property, but my sources of passive income are different. I earn from ads on my blog, commissions on product recommendations, and an online course for aspiring bloggers. It took a lot of hard work to set these up, but now I spend about 10 hours a week maintaining them.
This passive income covers my monthly expenses and allows me to save. While it doesn’t make me wealthy enough to travel the world without a care, it gives me the freedom to take breaks and only take on work I truly want to do.
Living Without a Steady Paycheck
One of the things I love about working for myself is the lack of a regular paycheck. My passive income is consistent enough to cover basic expenses, but like many freelancers, my extra income comes from client work. This can be unpredictable; some months I might not have any work, but other months I earn enough to make up for it. This lump-sum approach helps me afford travel and big purchases without needing loans. We manage our finances carefully, living frugally when needed, and splurge when a big paycheck comes in.
Living Within Our Means
Our lifestyle is also supported by relatively low monthly expenses. We avoid debt and unnecessary spending. A significant part of this is our affordable mortgage, secured with a large deposit and benefiting from low interest rates. We’ve also increased our home’s value through DIY renovations thanks to Sam’s construction skills. We could have opted for a bigger house but chose something more manageable financially.
Similarly, we drive a nice but not overly expensive car. These choices mean we have more money to spend on travel.
How I Afford to Travel
Even with an average household income, we manage to travel frequently by being strategic. In the past, many trips were covered by press trips from tourism boards and companies. Nowadays, with kids, I prefer to fund my own travel for more flexibility and a better experience.
We travel during off-peak times for cheaper flights and accommodations. We balance luxury and budget by splurging on some aspects while saving on others. For example, I’ll book a luxurious hotel but opt for budget flights. Prioritizing experiences over things allows us to travel more.
Travel Tips
– Travel at Off-Peak Times: Take advantage of mid-week travel for lower costs and fewer crowds.
– Balance Luxury and Budget: Mix expensive experiences with budget-friendly options.
– Think Long-Term: Save for big trips by cutting out smaller expenses, like a few nights out.
– Redefine Travel: Not all trips need to be far; some of the best holidays can be close to home.
– Traveling with Children: Use budget accommodations like Airbnb to save money while needing more space.
General Financial Tips
– Have a Side-Hustle: Find something you love or are good at that can bring in extra income.
– Freelance: If you’re good at something, freelance work can offer more flexibility and higher pay.
– Cut Back on Expenses: Lower monthly expenses can lead to greater financial freedom.
– Pay Yourself Quarterly: Save money and then allow yourself larger, lump-sum withdrawals.
– Book Slowly: Space out travel bookings over several months to manage costs better.
This lifestyle works for us by leveraging passive income and careful financial management. We prioritize travel and experiences over material things, and we’re always finding new ways to live well on a budget. If you have any questions, feel free to leave a comment below.