Life can throw unexpected challenges our way, and one of the hardest is the death of a loved one. Recently, we had to drop everything and book last-minute travel for a family funeral. As you might guess, the costs added up quickly—flights, accommodation, and other expenses. It was important for us to attend, not only for closure but also to support our grieving relatives.
But how do you budget for something like this?
Is It Okay to Dip Into the Emergency Fund?
In short, yes. That’s exactly what an emergency fund is for—unexpected, urgent situations. A death in the family often fits that category. It’s not a planned expense, but it’s also something that can’t be delayed. You can always replenish the fund over time, but being there for family is often worth the temporary financial hit.
Other Ways to Cover Last-Minute Costs:
- Travel Insurance: Some policies may cover last-minute cancellations or changes due to family deaths, so it’s worth checking if you already have coverage.
- Credit Cards with Points: If you’ve built up travel points, now might be the time to cash them in for flights or hotels.
- Family Contributions: Sometimes, pooling resources with family members who are also traveling can help ease the financial burden.
Budgeting for the unexpected is tough, but the emotional support and closure often outweigh the costs.
