The cost of living like a digital nomad for 6 months in Chiang Mai depends on a number of factors; quality of living, food costs, emergency funds, how much work you already have lined up, etc.
Everyone has a different opinion on this; after all, how long is a piece of string? There is no accounting for personal taste: I came on a one-way ticket with $2,000 in my pocket and small ongoing projects totaling around $1,000 to $2,000 per month.
This post will prepare you for the long-game and suggest a proper budget for a safe transition into the digital nomad life.
A Very Safe Estimate
Airfare (round trip) + Insurance + Startup Expenses + Monthly Expenses + Emergency fund
“Startup expenses” and “emergency fund” are more of a failsafe than anything. Startup costs mean paying deposits for a motorbike or an apartment, or to buy a motorbike outright. I suggest having $2,000 for startup costs.
Emergency funds are for any random medical treatment you may need outside of insurance coverage (i.e. a lot of insurance doesn’t actually cover you riding a motorized vehicle), if you break something that doesn’t belong to you, wake up in a bar bathroom with a 15,000-baht bill, whatever. I suggest $1,500 in emergency funds.
Insurance for 6 months through WorldNomads.com cost me $500 CAD, rates may vary.
In addition to this, if you’re living like there’s no tomorrow, you will still find it quite difficult to spend over $1,200 per month. I personally live on $3,000 per month with my wife and it’s quite comfortable.
So now that 6-month equation looks a little more like:
Airfare (round trip) + $500 Insurance + $2000 Startup + $6,000 for 6 Months + $1,500 Emergency
That’s an incredibly generous and safe estimate that is going to put you somewhere between $10,000 USD and $12,000 USD to live 6 months in Thailand (like royalty).
Total estimate: $10,000 – $12,000 USD
I’ve done it for much less, and most have. When I was struggling I was able to live on $600 per month. If you come with a nice number like that in pocket, you’ve earned yourself a lot more security than most arrive to Thailand with.
What's Your Favorite Cryptocurrency?Ethereum is our jam --if you found this website useful, feel free to leave a tip with a cryptocurrency! Visit our blog often for fresh posts about travel, blogging tips, freelance, cryptocurrencies, and the tools we use on the road. You can also browse our remote job site directory here.
Other Helpful Links:
Free Chiang Mai Digital Nomad Guide for Hobo ReadersIf you're planning to become a travel blogger or digital nomad in the near future, we invite you to take a look at Digital Nomad Escape Plan; a full-fledged (almost) 200-page ebook to help you get started on your nomad travels in Chiang Mai, Thailand (and it's completely free).
You can download your free copy here.