One of the biggest hurdles to full-time travel is finances. In order to start traveling full-time as a family we need to have the funds to support us. One of the most important aspects of this journey for us, was to build multiple streams of income that can be made from anywhere with a wifi connection. We’re doing this because we want to make sure that if one stream stops or significantly decreases, that we will be okay and won’t be scrambling.
Another point I should mention, which is a little embarrassing, is that before we left for full-time travel, we had a lot of debt. We had student line of credits, a mortgage, a truck payment, etc. We wanted to pay off all or most before we left, so that we had a clean slate and could build off of that.
Selling (almost) all of our stuff
One of the scariest parts for me is that Mitch and I are going to sell all of our belongings. From our house, to our truck, to our kitchen utensils. I know that it will allow us to spend more time as a family, and less time worrying about material things, so it will be worth it. We’re going to sell or giveaway pretty much everything that we own, except things that may not sell for the amount we want, or sentimental possessions. We’re going to keep anything that has sentimental value, like our shadow box from Cooper’s birth, and things that were passed down from our parents. As we get closer to going on a crazy sell everything spree, we will share how we did it! For now we’re slowly going through our basement, and finding things that “we might use some day”, and selling them on buy/sell/trade pages on Facebook. This is mentally preparing us to get rid of the things we use on a daily basis, and is decluttering our house, which is always good when you’re trying to sell your house.
Social Media Sponsorships
One of the many benefits of becoming travel journalists and documenting it all, is that with social media we have the opportunity to grow an audience and community of like-minded people!
Our goals with building this community is to first, document our journey for our family members at home, and for us and Cooper. We want to be able to look back on our Instagram, Youtube, and blog years from now and see how our journey and adventures pan out. Second, we want to build a community! We want to connect with you, inspire you, and provide value for you. Our final goal is that because we have such a unique opportunity, we would love to partner with companies that align with our values and our content. One of these is unique places that we stay, such as Airbnb’s or hotels. This allows us to receive reduced or comped stays, while giving us the opportunity to bring you more value, and show you incredible places to stay in different locations. Not only that, but it also allows us to shine a spotlight on the hosts and locations, in a different way than how traditional media would cover them!
Selling our brand of products
Right now one of our biggest streams of income is selling our brands online. At this moment we have 2 brands in completely different niches. There will be more on this topic in the future. Right now we are building all of this and want to wait to share more about it later. For one of our brands, we are currently working on opening up an online website, so that we can build our product line.
You can learn more about this in our video about our income sources below!
This is a smaller stream of income for us. We sell courses on Udemy. We have 2 course up right now and they sell between $13.99 and $35.99. We have to pay the company which results in us earning around $5 per sold course. It’s not an incredibly large source of income, but everything counts! It’s extremely passive as well. We put in about 30 hours to each course, but after that we put in maybe 5 minutes per month. Having many different streams of income is very important to us, so this is just a supplemental one that will help us.
Another way that we make money online, is designing websites and providing updates for our clients.
So there you have it. These are the six ways that we will generate income, that will help us pay off debt, and sustain our full-time family travel’s. It is going to take a lot of discipline and determination to grow our businesses and to achieve influencer status. But we are fully committed to this process and to bringing value to our community. We’re so incredibly excited to go on this amazing journey as travel journalists, and to share our experiences with you!