More than five years ago, remote work was almost unprecedented. I went to the office, sat in the cubicle, had more chit chats on my espresso machine, but I was doing the same job as I am now. Now I only have dogs with gossip.
Of the employees who can work from home without including occupations like mechanics, pilots and nurses, I am one of about 1 in 3 (32%) who have been working completely from home since the pandemic.
Pew Research Center reports that, like its hybrid schedule, two in five (43%) work from home, and one in four (25%) rarely work from home or never work. This is mainly because employers began redirecting employees back to the office for a certain number of cases.
However, for remote workers, the life of digital nomads is appealing. When you are not tied to the office, the world of travel opens. I have worked in Mexico, Hawaii and the Southwest US.
Bankrate principal James Royal also works remotely, and recently moved to Geneva, Switzerland for his wife’s new job.
“We don’t have children, so it’s just my wife and me. This makes decisions much easier,” he says. “We made the decision quite quickly.
However, for some people, costs can be a hindrance. After all, Bankrate’s Summer 2025 Travel Survey shows that over half of Americans have not traveled this summer (54%), with two in three non-travelers (65%) saying it’s because they can’t afford it.
I share some of the steps to save royal money with myself to help you travel frugal while working remotely.
When you reach the ground in a foreign place, you really don’t start with resources. You need to establish that social capital to thrive in your new home.
– James Royal
Principal, Bankrate
6 tips for working and traveling remotely
Whether heading to Thailand or Texas, there are ways to work together from another location while sticking to your budget.
1. Please organize your documents
If you are traveling abroad, you will need to look into the visa requirements. In many countries, you can stay for less than three months without a visa. However, if you plan to stay longer, you can apply for a digital nomad visa or another type of tourist visa provided by the country.
“Expats need to do that legwork yourself and always navigate the system without the most clear idea of how to do it,” explains Royal. “You’ll need to run to the local government office with the appropriate documents.”
I would also like to consider both travel and health insurance. Credit card travel insurance can protect you from travel interruptions, loss of luggage, car rental collisions and more. However, please read the fine print carefully as there may be limited travel length. There are other types of travel insurance tailored to long-term digital nomads.
Additionally, make sure your travel insurance covers healthcare emergencies, as U.S. health insurance typically doesn’t cover you abroad.
If you are staying in the country, the documents are easier. However, due to tax purposes and labor laws, employers may need to be informed of long-term remote work.
Without proper documentation, it can be a costly mistake.
2. Calculate housing costs
Accommodation is one of the most expensive parts of being a digital nomad, so it’s common to go around the long-term rent you’re currently paying in exchange for short-term or interim rentals. If you own a home, you can look into borrowing it to cover your mortgage.
As you prepare for your next destination, look at websites such as Airbnb, furnished viewfinders for medium-term rentals, or short-term hostels.
I worked for two months in Seirita, Mexico a few years ago, where I rented a lovely Airbnb for just $500 a month. And I made it to follow the end of the lease at the timing, so I wasn’t paying twice as much for housing in both countries.
However, make sure your accommodation has a strong Wi-Fi connection or plan to work in a more stable coworking space.
The first time I tried to join a Zoom call from my Sayulita home, I failed to connect to Wi-Fi. For the rest of the summer I had to scramble to find a coworking space, which is an additional cost to my budget. Hindsight would have refined the search for accommodation based on reviews on connectivity from other remote workers.
3. Book an affordable trip
Whether you’re going to your next destination by plane, train or car, there are travel expenses to consider.
If you are flying, try planning your travel days at any season, day or time other than peak. Digital nomads tend to be more flexible, so if you lower your prices, you can opt for Tuesday instead of a Sunday flight. If possible, avoid flying during holidays or major tourist seasons. Flight trackers can also be helpful if you have time to monitor prices before your trip.
If you are driving, you can plan your stop to accommodate your workplace schedule. I work on the road quite regularly using free Wi-Fi or my hotspot to find coffee shops and comfortable picnic areas along the route. Work hours and weekends are booked for driving and exploration. You can also calculate gas outages in large towns where gas is cheaper, and you can use the wholesale club card for even better prices if possible.
4. I live like a local
A general rule of thumb for affordable travel is when you make the Romans do in Rome.
That includes grocery shopping, cooking at home, taking public transport and enjoying free local entertainment. Royal says that although the cost of living is high in Geneva, he and his wife will save money in other ways.
“We live in the middle of town, so we don’t need a car and we completely eliminate one of the most expensive items,” he explains. They don’t pay gas, car insurance or car payments. Instead, they often use trains and public transport.
Royal and his wife saved the furniture for their new home. “When it wasn’t clear when we were here, we didn’t want to invest in furniture,” he says.
At Sayulita, we purchased produce and pantry staples from local grocery stores and cooked most of our meals at home. I hiked the jungle, surfed the town on foot and explored. I took the bus for about $30 to get to the nearest city an hour away. And I avoided the tourist restaurants and spa. It would have earned my living expenses.
5. Use a reward credit card
Paying daily expenses while remotely or traveling can help you spend extra points, miles, or cashback in your pocket.
The best travel cards boost rewards in other categories such as flights, hotels, car rentals and sometimes dining out. If you are out of the country, make sure you have a card with no foreign transaction fees.
When traveling on a road trip, a gas card can be the perfect wallet.
The royals use it Bank of America® Premium Rewards® Credit Card Because we don’t offer the highest exchange rates and foreign transaction fees. He also earns at least 2.6 times more points per purchase. This card earns double points on travel and meal purchases and 1.5 times points on all other eligible purchases. Additionally, Royal earns a 75% bonus per purchase thanks to its preferred reward layer with Bank of America.
“Credit cards acceptance is very high here and is generally very high in Europe, so it’s easier to do that than worry about local currency,” he explains. But the word of caution: “You’ll always be billing payments in local currency or paying a 5-10% currency conversion premium.”
6. Don’t ignore long-term financial goals
While you may feel like you’re on a permanent holiday (a laptop you’re towing), it’s still important to keep an eye on the big picture.
Having enough money to cover your expenses and avoid debt is a great start. However, if you already have debts, such as student loans, car loans, or credit card debt, you will need to keep securing your money to pay off.
You will also need an emergency fund that holds costs for 3-6 months. When you’re living on the go, it’s helpful to have control over any situation. This includes living in a safe area, setting up a proper work environment and having extra money in case you need it.
Don’t forget to retire and rainy days’ funds. The 50/30/20 rule helps you to budget as a digital nomad. We aim to use 50% of our income to suit our needs, such as accommodation and insurance, 30% of our revenue, such as shopping and entertainment, and 20% to save on long-term goals.
Conclusion
Working remotely and traveling sounds like a dream, but it also comes with challenges. You need to manage your money wisely. You may need to work early or late, depending on your workplace schedule. And you need to adapt to a new way of life.
“You need to learn new life when you move to a foreign place. It creates stress just because you need to navigate things in a different way,” says Royal. He and his wife understand that they live in Geneva, but they end up moving to Singapore, Dubai, Houston or elsewhere. And new destinations come with new currency and culture.
Learn to budget as a digital nomad and pack the travel card that’s perfect for you. This will allow you to head towards a full-time travel lifestyle. Don’t forget to send a postcard!
Information about Bank of America® Premium Rewards® credit cards was last updated on 6/24/25.
