Traveling is one of life’s great pleasures, but it comes at a cost. Whether these costs are big or small, you need money. But what do you do if you run out of money on a trip? In this post, we will see some emergency actions you can execute to solve the problem.
Running out of money in your city is not the same as doing it in a different city, much less if your trip is to another country. The recommendation will always be to travel prepared, plan each step, and anticipate what may happen. But unplanned inconveniences can happen that can leave you without funds.
What to do if you run out of money on a trip?
The first recommendation if you run out of money on a trip is to stay calm. We know it is not an easy situation, but you need to think clearly about all the alternatives you have. Depending on the trip you are doing, where you are and the mishap you have suffered, you will be able to evaluate your options. Let’s see some of them.
Borrow from family or friends
If you are in a city and run out of money, borrowing from family or friends would be your first option. If you have run out of cards in your mishap, you should manage a loan in cash with your acquaintances, explaining your situation.
If you have your cards available, you can ask them to make the transfer to your international bank account. In this case, it is not even necessary for your friends to be in the same city. A call will suffice to explain your situation, and surely one of them will understand and be able to help you.
The transfer to your bank account option is only valid when you have an international account or are in your own country with a national account. There are also international prepaid and credit cards that you can use internationally.
You must ensure that the money transfer is made to these cards if you do not have an international account. If any of your friends can help you, you can solve the problem on your trip. Then you must manage the return of that money when you finish your ride, and you are back at home.
Request a parallel loan to the credit card
Many banks offer parallel loans for the full credit card amount, which is ideal for emergencies. You must verify that your bank and your cards have this option active so that you can manage the loan.
In general, you can activate those by entering the bank’s web platform with your account or using a phone call. If the bank approves the loan, it will transfer the amount to your international bank account. To use this option, you must have your credit and debit cards. If you suffered from any theft, you will not be able to apply for this loan.
Get a job
We know that working on your vacations doesn’t seem like a very good option but running out of money doesn’t either. Very few will want to work on a tourist trip, but the need is pressing, and you must solve the problem as soon as possible.
Working abroad can be somewhat complicated due to visa issues. If you are doing tourism, they will not let you work legally. However, if you explain your situation well to the local people, you may be able to work informally doing simple activities for a few bucks.
Another recommended option is that you work online. There is a lot of scope for online work, but the success of getting it will depend on what you can do. If you are already a freelancer, you will have to go back to work on these days off that you had planned, to earn some money and do the math.
Use the deposit made at the hotel
Some hotels require an initial accommodation deposit that they return at the end of the stay. If you do not get money, you can end the stay and request a refund. For this, you must have previously coordinated a cheaper or cheaper place to stay at a friend’s house. Many hotels refuse to refund a stay and deposit without applying certain fees. You should keep that in mind when requesting a refund.
Contact the embassy
If you are abroad and it is impossible for you to get money, you should contact your country’s embassy immediately. They will be able to help you return to your place if you explain your case well. Many embassies have emergency plans for national tourists, and many are free.
If they cannot help you directly, they can give you some recommendations and steps so you can solve the problem. There are several options if you run out of money on a trip.
Tips to avoid running out of money while traveling
No one wants to run out of money in an unknown place. So, it is best to plan and prevent this. Review the following recommendations.
- If the trip is abroad, you must notify your bank, so they do not block your credit cards. It is a common security practice among banks.
- Have several cards between debit, credit, and prepaid. Distribute the money among several.
- Safeguard your cash and cards in different physical places. If you suffer a mishap with one of them, you can solve it with the other.
- Plan an emergency fund that allows you to cover the expenses of two or three extra days in case of a problem.
- Have your bank’s contact information handy. You must report the cards in case of theft or loss.
- Check your balance regularly, so you have control over your spending.
- Do not carry a lot of cash with you, many times it is not necessary. You can make most of the payments with cards.
- Give priority to credit card payments.
The important thing is to enjoy the trip without worries. Planning for travel time costs and an emergency fund is the wisest thing to do. This way you will not live the unpleasant experience of running out of money on your ride.
