It’s bad enough if you lose your wallet or your cash when you are at home, but what do you do if you are on holiday somewhere overseas and your money goes missing?

At one time, it would have been a real panic and worry.  First, you have to contact your bank/credit card company. Then, you have to arrange for funds to be transferred so that you can afford to continue your holiday or get back home.  But what if you are absolutely stone broke and your traveler’s cheques and credit cards have all gone missing together?  Sounds like the beginning of a big headache and a ruined holiday.

Financial Stress Free Holidays #stressfree #holidays

No need to fret – there are alternatives in cases of emergency.  No matter where you are on vacation, as long as you have access to the internet, either via your mobile phone or the hotel’s computer, you can find a temporary solution. Go online, Google a loan provider and in a few minutes, your immediate money concern will be a thing of the past! (Until you have to repay your borrowed sum of course – please use these providers responsibly in emergency cash situations only.)

Do you understand how these types of loans work

The entire process is fast, straightforward and easy to understand.  This is how the process works: first you have to register, and this involves filling in a form with some basic details.  There is no credit check so it doesn’t take days to hear back and there’s no need to divulge extremely personal or complex financial details. Once you have been accepted by the system, you can then apply for your loan through the site.  This is done by using a sliding scale to select the amount of cash you need and how long you need to borrow the cash for.  At this point, you will see the payback date and the interest cost of your loan. If you’re satisfied with the numbers being shown to you, click the ‘accept’ button and literally within minutes, the cash will be in your account.  It really is that simple.

But can something so simple be safe to use?

There is well-documented information on the web, as well as public opposition to the concept of payday loans due to the high short-term interest rates. If your options are limited and you understand the risks, it may be the best or even the only emergency solution to your needs.  If you will be taking out a loan, ONLY take loans from established companies with a good reputation.  If you are unsure whether you can pay back on time, do not take out a payday loan; your debt will consolidate quickly and you will be stuck in a very difficult situation.

In general, a holiday drama does not have to be turned into a holiday crisis.  There are more ways than one to avert cash chaos and these types of short terms loans can be a lifesaver in times like this.  If you’re lucky enough to be on your dream holiday, don’t let unfortunate events spoil it.

Have you ever lost your wallet or money?

Unedited image by Images_of_Money / CC BY