Last Updated on by Rodrigo @ OutofYourComfortZone
Many people are rethinking their work-life balance as they rebuild from recent tough times. Some of us are slowly returning to the office, while others are adopting a hybrid schedule. There’s also the rise of fully remote work.
Studies continue to show that people are willing to make some serious sacrifices for the opportunity to work remotely forever and enjoy more of what life has to offer, like traveling. One of those sacrifices is a significant pay cut — living the dream and working remotely while traveling is that enticing.
However, the decision to take a pay cut for more access to travel shouldn’t be made lightly. You must take your time weighing the pros and cons of the decision. Thorough prep work and a plan for sustaining your new lifestyle are also necessary.
Let’s first look at reasons why taking a pay cut for work that allows you to travel may be a good idea.
Before you decide to take a pay cut for work that allows you to travel, you must have a solid “why.” Here are three to consider:
More purpose and passion in your life
Taking a pay cut to travel could bring more purpose and passion to your life. Generation Z, for instance, is more interested in spending and saving wealth in ethical and sustainable ways. This includes focusing on experiential spending over material spending, and travel is a huge part of this.
Of course, having a big salary is wonderful for financial security. But as you’ve probably heard, “money isn’t everything.” The freedom to travel while working means more time and space to find your purpose and nurture your passions.
Ask yourself the following:
- Does purpose and passion in work make up for the pay cut?
- Is the work purposeful and passionate enough to sustain you through the tough times in this lifestyle?
- Are you willing to be open-minded and accepting of all that comes with the journey?
- Are you struggling to find your purpose in life?
- Do you want to spend time on passions most important to you?
Next, taking a pay cut to travel allows you to see the world.
See the world
This one is pretty obvious but worth noting. Taking a pay cut for work that allows you to travel lets you see the world.
There’s so much to learn from the cultures, people, and communities in different parts of the world. You can become a well-rounded individual who honors, respects, and appreciates diversity. You also learn more about what’s truly important in life, like love, healthy relationships, and inner peace.
Taking a pay cut to travel can help you live a healthier lifestyle as well.
Better holistic health
Often, a bigger salary comes with more responsibilities and longer hours. Unfortunately, that can lead to burnout, low productivity, and diminished physical, mental, and emotional health.
Taking a position with lower pay or transitioning into freelance work can better the above issues significantly, all while allowing you to travel.
You may have to take a pay cut, but you’ll be able to manage your job responsibilities and hours more appropriately. You’ll be more engaged in your work. You can also prioritize your physical, mental, and emotional health every day.
All in all, transitioning to a lower-paying career that allows you to travel can improve your work-life balance. If you decide to take a pay cut to travel more, you must do thorough prep work to ensure a seamless transition.
How to Prepare Yourself for Taking a Pay Cut to Travel
Before you take a pay cut or change your position in order to travel, there are some considerations to make:
Stick to a budget and save
Before you leap, you must take as much time as possible to save. No matter where you go, money is essential to your survival. If you don’t plan on taking a full-time role with a new company, your income is likely to be unpredictable, or worse, nonexistent at times.
So, stick to a budget now while making some money and saving as much as possible. First, determine how the pay cut will affect you financially. Then start finding places where you can cut costs. Also, learn to live below your means so that you’re already in the habit when you do make the transition.
Next, know the resources available to you to ensure your security and ability to live comfortably while traveling and working.
Know the resources available to you
Start compiling a list of available resources that will help you while you travel and work. These could be financial resources that show you how to budget, save, and make more money. They could be mental health resources and contacts or gyms in the area you’re traveling to that can help you maintain your physical health.
You should also include job-related resources. For instance, if you choose to leave your job altogether and begin a freelance career, you’ll want resources that supply you with freelance gigs.
Another step in your prep work is solidifying your job or career path.
Solidify your job or career path
Before you take a pay cut for work that allows you to travel, ensure it’s the right job or career path for you. Some people take on a new job just for the chance to travel or choose to travel for an opportunity to find a new career. But it may be wiser to plan out how you’re going to stabilize your income before you make any permanent moves.
As stated above, you can ensure you’re able to cover your expenses by saving as much as possible if you can’t secure a stable job. Additionally, you can secure yourself financially by getting a new job or growing your freelance clientele before and after traveling.
If you decide to find a new job or career path beforehand, ensure your professional resume is top-quality, so your job search is as productive as possible. Additionally, you want to land a good position that allows you to travel quickly. So, stand out from the other candidates hoping to do the same with a resume that:
- Is polished and readable
- Tells a compelling story about your career development thus far
- Is tailored to the position you’re applying for and the company you’re applying to
- Only includes relevant information
- Includes a resume summary section that draws recruiters and potential employers in
You’ll also want to ready your circle for the transition.
Ready your circle
When you take a pay cut for work that allows you to travel, the decision doesn’t just affect you. It affects all of the people around you, including your:
- Other extended family members
- Community ties and relationships
- Current boss and coworkers
You must ready your circle for the change. If you’re leaving your current job, go out on a high note with your bosses and coworkers. Ensure you complete any lingering projects and have a plan in place for the work you’re leaving behind.
Have an in-depth conversation with your partner. See how you can work together to make this transition happen and make it as easy on your children as possible if you have them. You’ll also want to chat with friends about your decision and how it will affect your relationship with them.
When you do take the pay cut, get into your new career or job direction, and begin to travel regularly, there are some things you can do to ensure it’s a pleasant experience.
How to Sustain Yourself Once You do Make the Transition
Once you’ve fully immersed yourself in a life of working and traveling, you’ll be on the prowl for ways you can sustain this lifestyle as long as you like. Here are a few to get you started:
Lean into your support system
A career with travel embedded in it can get lonely sometimes. Do your best not to isolate yourself. Instead, lean into your support system. Make time for your family and spouse as often as possible and keep in constant communication with them when you’re on the road.
Work hard but don’t forget to have a social life. And if you need extra support, enlist the help of a mental health professional to give you the tools and coping mechanisms necessary to navigate this lifestyle successfully.
Take care of your physical, mental, and emotional health
When you’re traveling, working, and juggling all of your financial, family, and social obligations, it can take a severe toll on your health. You can quickly become physically, mentally, and emotionally exhausted.
So, taking care of your health holistically is vital. Implement a regular exercise routine and good nutrition plan. In addition, take good care of your mental and emotional health. Do things that nurture your soul and allow you to explore your creative passions.
Stay ahead of your finances
When you’ve taken a pay cut, the last thing you want to do is get behind in your finances or continue to live the life you were living before the pay cut. You must adjust and stay ahead of your finances. Furthermore, if you don’t stay ahead of your finances, you won’t be able to enjoy traveling as you envisioned.
Create a budget and stick with it. Learn to enjoy living frugally. Also, explore diversifying your income to take your financial landscape to the next level.
Lastly, you must enjoy yourself.
Simply put, enjoy yourself. You chose to take a pay cut for work that allows you to travel for a reason. Always remind yourself of that reason and appreciate this journey for all that comes with it.
Taking a pay cut for work that allows you to travel isn’t an easy decision. Take your time with it and have a strong “why” for moving forward with the decision. Then, prepare yourself before the transition and implement the tips above to sustain the lifestyle for years to come.
Planning your next trip?