am a masters student (economics). i have been able to get admission to a phd, but am an international student so funding is a problem. what should i do for one year while i try again. it's too late to apply for another masters.

Applying for another Masters may be costly and probably unecessary. Often even when international students are able to obtain funding, it only covers part of the costs involved. If you are able to work for 12 months you may be able to save some money to help with your future studies

What I can generally recommend is to look around the job market. Some researchers will receive funding to permit them to hire a research assistant. These sometimes last 1-2 years and receive a decent level of pay. This gives you some money, potentially you could get published and it gives you some experience.