Geo arbitrage involves taking advantage of differences in the cost of living or the value of a currency in different locations. When done correctly, you can often save up to 50 or even 80% or more of your income. Here is a step-by-step plan for how to engage in geo arbitrage:
Research locations with a lower cost of living or a more favorable exchange rate for your currency. This may involve looking at factors such as the cost of housing, groceries, and other expenses, as well as the strength of the local economy and job market.
Determine whether you can earn a living in one of these locations through remote work or other means. This may require finding a job or building a business that allows you to work remotely, or finding ways to generate income from investments or other sources.
Budget your geo arbitrage trip
Develop a budget and plan for how you will save or invest the money you earn in the country with the lower cost of living or more favorable exchange rate. This may involve setting aside a certain amount of money each month for savings or investments, or finding ways to reduce your expenses in order to maximize the benefits of arbitrage.
Make geo arbitrage happen
Move to a country with a lower cost of living or a more favorable exchange rate. This may involve finding a place to live, getting a local bank account, and making other arrangements to establish yourself in the new location.
Commit to saving
Begin earning and saving or investing money in the new location. This may involve working remotely for a company in another country, starting a business, or making investments that take advantage of the local economy and exchange rates.
Continue to monitor the cost of living and exchange rates in the new location, and adjust your plans accordingly. This may involve making changes to your budget, finding new sources of income, or making other adjustments to maximize the benefits of arbitrage.
Overall, the key to successful geo arbitrage is to carefully research and plan your move to a new location, and to be willing to adapt and make changes as needed in order to maximize the benefits of the lower cost of living or more favorable exchange rates.