What About Supporting Your Family? Tips for Breadwinners Who Want to Travel Around the World
Are you planning to quit your job to travel long term but worried about many things including being the breadwinner of your family. What about supporting your family?
Ideally, your family should be supportive of the traveling lifestyle that you are choosing. Once you have made your decision to go nomadic, speak to your family, explain all the reasons why you want and need to travel, then seek their support.
For many Third-World passport holders, this may mean not taking part in supporting your family financially or not helping out in the family business. In certain instances, this conversation leads to drama but if you discuss it correctly and openly, you may well have the blessing that you require.
To make it easier for you, below are some tips to help out with the conversation, plus a handful of ideas to keep on supporting your family while you are on the road:
1. Be debt-free.
Never allow your family to deal with any debts that you may have before you set off. This is your responsibility. Clear it off first - make this a priority. Besides, you should not even be thinking of traveling if you have debt!
2. Have substantial savings before you leave.
One reason to get your family on-board your long-term traveling is to show them that you can support yourself even if you are far. Save, save, and save some more! Tell them that you have prepared for this journey and that you are ready for what it entails. Do not ask them for money. This is your trip and you should be the one planning and preparing for it. Of course, if they offer you some cash as a gift, there is no reason why you should decline. But never do the asking!
3. Set up a business or a passive source of income.
Some people simply cannot afford to stop supporting their families financially. If this is your situation, you can put up a business for your family before leaving so that they have a source of income.
Maybe your mother or sister can start a small convenience store or your father and brother-in-law can work in a carwash together. Whatever it is, you can set it up in advance for them and whatever income comes out of this establishment can be used to support them.
Alternatively, you can put up passive income sources like stocks, real estate, or a monetized website. This is ideal as you do not have to mind them a lot while you travel. Again, whatever income is generated from these sources can go into supporting your family. However, be conscious of how you divide the money as you will need funds as well. You may consider getting a job on the road and using the salary here to support yourself, while the passive income can go to your family. Just remember to maintain a balance; otherwise, you may be in trouble and you surely do not require the hassle.
4. Just send the money.
If your family cannot truly survive without your financial support, simply bite the bullet and send them money. This may be tricky because traveling does incur costs but you have to face your reality. Work harder and carefully divide what you earn between yourself and your family.
Remember to find the balance though, as you do not want to be working all the time and missing the point of traveling completely.
5. Be open and flexible.
Yes, your family deserves all the love and support in the world, but you do, too. Open up communication all the time. Discuss your situation as things change for you on the road. Maybe you are unable to send as much this month because your expenses increased. Conversely, maybe they made more money in the business you set up and they can help you if you are in a tight spot.
Finances can be really tricky so always talk about it. Be objective. Have clear goals. Be realistic. Remember that as a family, all of you should work to support each other. It is not just you who have a responsibility towards them. They need to look out for you, too.
At some point, the goal is to find a common ground where everyone is happy and feels comfortable with the situation. Also, always be respectful of the decisions of everyone. Negotiate and compromise. Certainly, there is a way that everyone's needs can be met.
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