I am short of money.
I am planning to purchase a ticket with the "self-transfer" option.
Is it risky? Do I get sufficient time for collecting my baggaes
I am short of money.
I am planning to purchase a ticket with the "self-transfer" option.
Is it risky? Do I get sufficient time for collecting my baggaes
It is inherently more risky than a "real" connection, for a lot of reasons:
You need a lot more time
Note that even if you don't have checked luggage, you may need to go through check-in and/or passport control and/or security.
You may need more paperwork
You are on your own
One of the two flights is rescheduled and the connection is no longer possible? You are on your own to change one of the flights (at a cost).
One of the two flights is cancelled (in advance or at the last minute)? You are on your own to find a new flight or route (at a cost).
The first flight is delayed and you miss the second flight? You are on your own to find a new flight (at a cost).
There are other delays (passport control queue longer than usual, security longer than usual...) and you miss the second flight? You are on your own to find a new flight (at a cost).
Each of the airlines does not care about your other flight. For them, they're bringing you from point A to point B. Whether you arrive at A or depart from B by foot, car, train, bus, or another flight is the same for them: not their problem.
Remember that "missing the flight" means "not having checked-in/dropped bags before the deadline" (often one hour before departure) or "not reaching the gate before the deadline" (often about 20 minutes before departure).
Remember also that if you need to rebook, prices usually go higher as you get closer to the date. Flights for the same day or the next day can be a lot more expensive than flights booked a month or two in advance.
Also note that the next available flight may not be the same day. It may be the next day, or even later. You would need to pay yourself for any hotels, meals, transfers, etc. while you wait.
It's also worth remembering that not all airports are open 24/7. If you need to wait for a flight the next day, you may not be able to just camp out at the airport. Also, in many cases you can't actually check-in earlier than 3-4 hours before the flight. So if you have to wait, you probably have to do so landside (the "public" side of the airport, outside security), or out of the airport if it doesn't remain open overnight.
For all these reasons, most people consider that the minimum connection time should be at least 4 hours. However:
In the end, it's up to you to evaluate the risk:
Note that some sites sell self-transfers, and supposedly have a "guarantee". Those guarantees are often very limited (for instance some will not pay more than the original cost of the missed flight!), subject to a lot of conditions, and may be unpractical. I wouldn't rely too much on them.
Some travel insurance policies may help (you do have travel insurance, right?), but this is extremely variable, may again come with a lot of limitations and conditions. Read the fine print.