What to do if you’re running out of money abroad
So, you’re thousands of miles away from home and you’re running out of cash. It doesn’t matter if you budgeted perfectly, down to the very last dollar, as even the most experienced travelers can sometimes run into money trouble overseas.
Maybe your wallet was stolen, or you ended up spending more than you thought you would, an unexpected expense has drained your travel funds or you’ve gotten sick and you can’t work like you were hoping to. Running out of money when traveling is every backpacker’s worst nightmare, which is why it’s a good idea to know how you can get yourself out of this sticky, financial situation.
Read on to discover what to do if you’re running out of money abroad.
An international money transfer
Maybe you have money in another account back at home, or your friends and family are willing to help you out so you can get the next flight home. This is when an international money transfer is a perfect solution. It’s the fastest and safest way to get your money. However, those sending the money should be wary of hidden fees with some providers and they should also shop around for the best exchange rates. Discover the best online money transfer services, just click the link.
If your funds are running low, reach out to friends and family as soon as possible.
Become a volunteer
From animal shelters to retirement homes, schools, charities and other projects, there are plenty of opportunities to volunteer when you’re overseas. Volunteers are often provided with meals and lodgings in exchange for hard work. Alternatively, you could offer to work in a local hostel in exchange for a bed. A simple online search can point you in the direction of volunteer work wherever you are in the world.
Get a job!
Are you traveling with a working visa? Good news! You can apply for local jobs to give your travel fund a boost. From local restaurants and eateries to tourist attractions, hotels, swimming pools, even water sports instructors. Having this kind of experience on your CV, communicating successfully with a potential language barrier, working well under pressure and adapting to local customs and expectations makes you instantly more employable when you get back home.
Use your credit card
It’s not ideal, however, using your credit card to get yourself back home as quickly and as safely as possible might be the best option. You’ll just have to pay it back when you get home.
Reach out to your embassy
If you find yourself completely stranded, try not to worry. Reach out to your embassy and they may be able to offer you financial assistance so you can return home. It’s always a good idea to research where your nearest embassy is and have their address and phone number available if you haven’t planned ahead speak with hotel/hostel staff for advice.
Final thoughts…
The best way to prevent running out of money overseas is with careful planning and having an emergency fund. If these emergency plans have failed, consider the options above.
