Key Ingredients for Freelance Expat Success: Flexibility and Frugality

One of the things that people ask me most often is what qualities are most likely to lead to long-term satisfaction and success as a freelancer or entrepreneur living abroad.

Is it language skills?  No.

Is it the ability to schmooze and network?  No–but this certainly helps.

Is it a fat bank account?  Well, sure, that can make things easier, but having enough money isn’t a guarantee that you’ll be happy long-term abroad–or anywhere else, for that matter.

The reality is that there are two qualities that really make a big difference:  flexibility and frugality.

See, if you’re able to look at options, try new things, adjust as you go, and continually assess how things are going, you won’t get stuck doing something you hate or that isn’t working.  This is true no matter where you live!  So, although you might have a particular skill set (of course you do) and a history of work experience (sure), keep in mind that these will complement but not necessarily determine what you choose to do while living abroad.  Most of my expat friends aren’t doing anything related to their previous lives–and that’s why they’re so happy!  They have given themselves permission to try something new–in many cases, something they would never have considered back home.

And that’s where the frugality thing comes in.  If you don’t require a lot of money to live, you give yourself a lot more room to be creative about what you do.  You don’t have to make a ton of money, or make much right away if you have a little in reserves.  It doesn’t have to cost an arm and a leg to start something–most expats I know here in BA have started their own business venture on well under $1,000.  Okay, so they might not pay themselves from Day One, but they aren’t going into debt.

It’s also true that if they are living on less,  they are watching their finances closely.  They are not likely to be running up a big fat Visa bill because they are mindful about their spending and their bank balance.   And if you’re paying attention, you won’t be as likely to sink a ton of money into a business that is not taking off reasonably quickly.

Keep in mind that I’m talking about freelance opportunities or micro-businesses, which in the world of independent expats tend to be those that generate enough income for one person after the first three months.  Obviously, there are many levels of investment and different expectations from person to person, but many freelancers and solo entrepreneurs can find ways to support themselves–if they’re frugal–within six months.

If you’re an adult considering moving abroad, ask yourself if you have these two qualities–and be honest about your answer!

If you’re a college student dreaming of spending time abroad, consider the value of developing flexibility and frugality and how these two qualities can help you create a location independent livelihood in the future.   Lifestyle design requires awareness, and being flexible and frugal are a result of understanding your own limits (often self-imposed) and needs.

If you’re a parent, I strongly recommend that you find ways to teach your kids how to be flexible and frugal!  No matter what they do in the future–and no matter where they choose to live–being flexible and frugal will ensure that they have opportunities to do whatever they find most thrilling and fulfilling.

So, what do you think?  Are you flexible and frugal?  How important are these two qualities in your own life and work?

Tagged as: affordable living, awareness, entrepreneur, expat, expat life, financial planning, flexibility, flexible, freelance, freelancer, freelancing, frugal, frugality, life abroad, lifestyle design, living abroad, location independence, location independent, mindfulness, opportunities, personal finance, solopreneur