Money Tools
Money makes the world go round, they say. A sad reality, but without cash flow and proper money management, you won´t go far in this world. Let us show you what services we use!
These are the money tools we use to maintain our healthy cash flow. We guarantee you will save thousands a year on these great deals and services!
Online money services
Transferwise changed their name into Wise, and we love that name change because it shows how the service has matured into a more complete paying platform. It's all very user-friendly and easy to send money from Wise to anyone and to anywhere in the world. We use it especially for sending money to freelancers who help us with all kinds of online chores that keep our business afloat.
Who doesn´t use PayPal from time to time nowadays? We use it for all sorts of payments, and we love how easy it works. The fees are quite high, but the service, in general, is just excellent. Can´t be a digital nomad who travels the world, without the occasional use of PayPal.
Did you know you can show your support by sending us a donation via PayPal? Thanks! 🙂
Revolut is a very broad and complete platform with many money-related services. Discover this platform on your own and see what it can do for you. You can even analyze your spending, donate to charity, and buy gold and crypto with Revolut!
This is our favorite currency converter, and we use it regularly, especially if we are new in a country. It´s simply the best currency converter out there. Be sure to download the app and have it readily available on your home screen for easy access.
Need to transfer funds to dozens of less financially accessible countries around the world, like Pakistan, use the handy and user-friendly online paying service from WorldRemit! We use it regularly to pay our freelancers who do all sorts of internet-related chores for us. We use Fiverr to find these helping hands.
Great deal: get 25 euro free after sending 200 euro with WorldRemit!
Bank accounts
We have simple checking accounts in the Netherlands. KNAB and ING. Nothing special, no special reason. Works fine.
One good personal tip: always keep a bank account in as many countries as possible. It's almost impossible to open one if you don´t live there anymore. So never close them. It will come to use someday.
Crypto
The new money, the new gold, the ultimate disruptive technology. Because of crypto-technology and Bitcoin, the financial world is gonna change, fast! And you don´t wanna miss the boat on these amazing services and ways of payment. We invest whatever we can into crypto and we mainly invest into:
This popular cryptocurrency might go to the friggin moon! The potential is amazing, but it could also go south fast. With that being said, we still strongly believe Bitcoin is going to be huge. It might even become thé new digital currency. We invested about 60+% of our ´investing-money´ into cryptocurrency, and mostly into Bitcoin. Only invest if you have a strong buffer* to fall back on. Investing should never be dangerous for your livelihood, your family, and your cash flow. Crypto is a volatile long-term investment, so don´t sell when there is another big dip. It will work out in the long run!
We also have (writing this in May 2021) about 10-20% in these crypto platforms that have massive potential as building blocks for future dapps:
For investing and managing our crypto´s, we use this great crypto exchange:
*A personal rule we live by – and this is maybe our best money tip – is to always have a big buffer. Without a decent buffer (like 5000 dollars per person) to fall back on when things don´t go according to plan, we don´t advise people to follow big dreams, investing, and things like traveling the world. Get your money right before you go diving into the deep waters.
About taxes
The mindboggling world of taxes is a confusing one, and we still have to learn so much about it, but here we have some suggestions to get you started on making taxes more understandable. And mostly; to not pay as much! There are many legal ways to make sure you pay as little taxes as possible. You just have to know how to apply them.
- This is how influencers pay almost no taxes (and it´s legal!)
- The Tax-Free Digital Nomad – ebook
- Digital Nomads who pay taxes are fools – ebook
- The book of Nomad Capitalist
- The informative Youtube channel of Nomad Capitalist
There any many options and situations and upsides and downsides to choosing the country where you are going to pay your taxes. All of this won´t be easy, but in the end, you will save thousands of dollars by choosing the option with the least amount of taxes owed. Good luck, and send us an email about what you´ve chosen!
Credit Cards
Traveling around the world without a credit card is a pretty amateur move because there are so many excellent benefits to having a travel credit card. Saving points, easy paying all around the world, discounts on flights, lounges, products, and many cool services… it´s all made possible with the right credit card!
Just be sure to have a good constant cash flow to pay your own used credit. Then you´re fine and you´ll enjoy the upsides. If you don´t pay in time, the price is a hefty one. The interest is bonkers and you will have bad credit, which doesn´t help you with future credit and credit cards. Do not consider a credit card if you don´t have a healthy monthly cash flow. You´re good if that is not an issue, then the benefits are very worth the hassle.
- The 5 best credit cards for travelers! (coming soon!)
Get your money right
So, now you know which services we use for banking, wire transfers, credit, and crypto. We will be expanding this list as we move along in this ever-changing complex world. The years 2021-2025 are gonna be wild people, and it´s best to get your money right! These recommendations will help you along towards (financial) independence, so that you might one day, become a free bird as well!
Also check out our other tips, hacks, and recommendations on:
- Digital Nomad Tools >
- Travel Insurances >
- Travel Gear >
- Credit Cards >
- Research >
- Entertainment >
- Lifestyle Tools >
Your favorite tool?
If you have a great suggestion you use as a money tool to make your life richer and easier, and it´s not on this list, let us know! > info@freebirdsmagazine.com
* Disclosure: some of our recommendations are affiliate links, and we earn a commission if you make a purchase. This keeps the magazine up in the air and us on the road. Thanks in advance!