Income when on an Extended Trip

On-going Income

You may not be working but maybe you have some assets which could be working for you.

Renting your Home

If you own, or substantially own, your home then renting it may provide a useful source of income while you travel. If you are going to rent your ensure that you have a good property manager and are familiar with the requirements for insuring and furnishing your home for the local market. Will you have to pay for the garden to be done?

DO hire a professional agency to manage the property – this is not something you can expect a friend to for you as a favor – unless they happen to own a property management company of course! Ensure that your insurance company and mortgage provider are happy that you renting out the house. You may have to change your insurance to cover tenants , chattels left in the house even if it is let unfurnished (carpets, curtains, built in stoves are not included in the building insurance normally).

DO decide what to do with your furniture and personal items storage, professional or a friend’s garage.

Investment Income

Existing investments may be re-arranged to provide more income and less capital appreciation.

Work Along the Way

If you have the right to work in another country then you can always pause your travels to earn some extra cash – even if not in your normal occupation or profession. Even if you don’t have the right tot work you maybe able to volunteer for board and lodgings.

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