Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • UK
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • UK
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
👤

LIFE WITHOUT BOUNDARIES

THE NUMBER ONE SOURCE FOR EXPATS, DIGITAL NOMADS, AND DREAMERS.

This field is for validation purposes and should be left unchanged.
  • Finance

6 Tips for Preparing Your Finances Before Unforeseen Disasters Strike Abroad

  • October 24, 2014
  • BY Don Halbert
Total
0
Shares
0
0
0

No matter where you live, there’s always the possibility of natural disasters or civil unrest that could affect your way of life.   However, for the rest of the world, life goes on no matter what you’re going through, so you need to have a plan to keep yourself safe and financially viable.

If you’re an expat living abroad, especially in a risky area (hurricane ridden coastline, near a volcano, working in the Middle East), you could be even more susceptible to factors that are beyond your control that will heavily affect your financial situation.  Knowing how to prepare yourself financially in these situations is 90% of the battle.

  1. Cash is king.  Credit cards and ATM cards can be convenient, but they are worthless in the event of a power outage or if the banks close down.  Because of this, it’s always handy to have a stash of cash around.  Plus, in many countries, cash is the preferred method of payment anyway, so you’ll have priority over those without it.  Depending on your location, it can also be wise to have various currencies available as well.
  2. Have other accounts.  One of the benefits of being an expat is the ability to have bank accounts in multiple countries.  While it might seem superfluous at first to maintain overseas accounts when you’re abroad, these can be very useful, particularly in the event of an emergency.  Having online access to these accounts is a definite bonus, as is having a multi-currency account so you’re not restricted to a single currency (Everbank, Lloyds, HSBC, and Barclays have these kinds of accounts available).
  3. Diversify.  Having a full portfolio of payment and money options is always a good idea, but it can save your life in the event of disaster.  At a minimum you should have: credit cards, debit cards, a virtual credit card, checks, pre-paid cash cards, and possibly an online account like PayPal.
  4. Have a plan.  If disaster strikes, you’ll want to have an exit strategy ahead of time that allows you to stay safe while maintaining your finances and assets.
  5. Insurance.  When in doubt, insure yourself like there’s no tomorrow.  There are lots of expat insurance options out there that will cover you for evacuation or assistance when disaster or emergencies strike.  This can be a very prudent option, especially if you live in a volatile area.
  6. Establish a network.  Get a membership to a local expat organization or community.  They will keep you abreast of any possible issues in the area while providing an instant network for you.

If you’re considering traveling or moving abroad, be sure to explore your healthcare options. Visit International Citizens Insurance to learn more and get a free quote.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Related Topics
  • banking
  • expat networking
  • insurance
  • managing your money
  • Portfolio Diversification
Previous Article
  • Food + Culture

Typical Food In Paraguay

  • September 11, 2014
  • BY EA Editors
View Post
Next Article
  • Australia

Renting or Buying in Australia

  • April 24, 2015
  • BY EA Editors
View Post
You May Also Like
View Post
  • Interviews
Meet the Legal Strategist Guiding Portugal’s New Wave of Expats
  • BY Isha Sesay
  • July 19, 2025
Reduce Your Taxes by Moving Abroad
View Post
  • Plan B
Legally Reduce Your Taxes by Moving Abroad
  • BY EA Editorial Staff
  • July 16, 2025
best place to retire
View Post
  • Plan B
Retiring Abroad: Where Can You Actually Afford to Live?
  • BY EA Editorial Staff
  • June 18, 2025
Not all retirements are created equal—especially when taxes are involved.
View Post
  • Plan B
How to Retire Tax-Free Abroad
  • BY EA Editorial Staff
  • April 23, 2025
Investors diversify globally to protect their future.
View Post
  • Plan B
Why Every Investor Needs a Plan B Abroad
  • BY EA Editorial Staff
  • April 3, 2025
Tallinn, Estonia is Europe’s digital gateway for borderless business.
View Post
  • Plan B
The Best Countries for Financial Freedom
  • BY EA Editorial Staff
  • April 1, 2025
Saint Kitts and Nevis offers citizenship through investment. Photo courtesy of iStock/pics721
View Post
  • Finance
How to Build Wealth While Living Overseas
  • BY EA Editorial Staff
  • March 25, 2025
Family Foundation
View Post
  • Finance
15 Proven Global Strategies to Protect Your Wealth
  • BY Joel Nagel
  • March 25, 2025
Trending Posts
  • Tunisia, North Africa - One of most affordable Countries to live 1
    • Plan B
    The Most Affordable Countries to Live in 2025
    • July 30, 2025
  • 2
    • Interviews
    The House We Rebuilt in Georgia
    • July 28, 2025
  • Digital Nomad Van Life 3
    • Digital Nomadism
    The Ultimate Van Life Guide for Digital Nomads
    • August 4, 2025
  • Portuguese Foods to try 4
    • Food
    For the Love of Portuguese Food
    • August 1, 2025
  • Global Residency Program and Citizenship Programs 5
    • Plan B
    Your Next Investment Should Be a Residency Program
    • August 6, 2025
Subscribe
Know Before You Go
  • Friendly locals and relaxed daily life in The Gambia 1
    • Africa
    Could The Gambia Become Africa’s Next Digital Nomad Safari?
    • August 8, 2025
  • Digital Nomad Van Life 2
    • Digital Nomadism
    The Ultimate Van Life Guide for Digital Nomads
    • August 4, 2025
  • Tunisia, North Africa - One of most affordable Countries to live 3
    • Plan B
    The Most Affordable Countries to Live in 2025
    • July 30, 2025
  • The historic harbor blends Ottoman architecture with modern Mediterranean charm. 4
    • Cyprus
    Cyprus’s Forgotten North
    • July 25, 2025
  • Mauritius – One of the best Island to Live for Remote Workers and Retirees 5
    • Plan B
    The Best Places to Begin Again
    • July 9, 2025
Learn More
  • About Us
  • Contact Us
  • Subscribe
Why Subscribe

The newly imagined Escape Artist brings you fresh content with a global focus, and sharp, up-to-the-minute coverage of the joys, challenges, and opportunities of life abroad.

For a limited time, we’re offering a special discount on all subscription deals, so be sure to lock-in these incredible savings and start receiving top-notch travel and expat content today!

Sign up for the EA Newsletter

Get important news delivered directly to your inbox and stay connected!

This field is for validation purposes and should be left unchanged.
Escape Artist
  • Terms & Conditions
  • Privacy Policy
  • Cookies Policy
  • Disclaimer

Input your search keywords and press Enter.

Newsletter Subscription
Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/