How To Keep Money Safe
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Are you looking forward to your next vacation? After working all year, you deserve a few days of relaxation and fun. But regardless of how excited you are to take your next trip, it’s always important that you plan wisely and always remember to take plenty of precautions. After all, nothing can ruin your trip faster than losing your bankroll. Thieves often target tourists, and if you’re careless with your wallet or purse, someone could sneak your money out from under your nose.
How To Keep Money Safe
Using credit as your primary payment method while on vacation can be dangerous, as there can be a greater temptation to overspend. Using cash you can easily stick to a specific budget, as it forces you to spend within a certain range. But money is not replaceable – and if you drop your wallet or someone steals your money, you can lose all your holiday money.
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However, if someone steals your credit card, you are not responsible for unauthorized charges. Even with a debit card, your bank will refund fraudulent purchases, although it may take a few days for the money to reach your account. Therefore, bring some cash on your vacation – but don’t carry
Phil. Keep a credit card or two in your wallet, and give yourself a daily spending limit to stay within your vacation budget. Charge only what you can pay in full the next time you get a statement.
Check which forms of payment are mainly accepted in your destination – you may find, for example, that your Discover Card is almost useless in some foreign countries. Visit your credit card’s official website and see its country acceptance map.
Also, always be aware of foreign transaction fees, as some credit card providers charge a fee of 2% to 3% to convert the currency. If you’re planning a trip abroad, look for cards that don’t have a foreign transaction fee.
Tips To Keep Your Money Safe While Travelling
If you need to rely on money, never carry everything in your wallet. Instead, break it up and hide varying amounts of it in different places to reduce the incidence of theft. For example, you could keep some money in your wallet, and hide the remaining money in a shoe or sock in your suitcase. Or you can keep money in a hotel room safe if one is available. If you have to carry a lot of money with you on a visit, ask one of your companions to carry some money in their wallet.
Also, don’t leave cash or credit cards lying around your hotel room. Theft isn’t just outside the hotel – hotel workers have access to your room, and if your room door is accidentally left unlocked, other hotel guests can come in and steal your belongings.
In all likelihood, there are ATMs near your hotel or resort that alleviate the need to withdraw all your vacation money at once. The bank is the safest place for your holiday money, and you only need to withdraw money as needed.
The sooner you report a stolen credit or debit card, the better. Of course, it’s difficult to report a stolen card if you don’t have access to your account information or the customer service number on the back of the card.
Stash The Cash: Keep Your Money And Valuables Safe
Plan for the worst and make several copies of the front and back of your credit and debit cards before you leave home, or write down your account and customer service numbers. Keep this information in a safe place separate from your credit cards. For example, you could put a copy in the hotel safe, leave a copy on your laptop, or give a copy to a friend.
Isolated ATMs can spell trouble, as any machine that is not visible from the street or nearby locations can give a thief the right set of circumstances to steal your money. Use cash machines located in your hotel or near busy areas, and plan your ATM visits wisely. Do not visit machines at night or in the early morning hours. If you have a vehicle, use drive-thru ATMs. Keep your engine on and lock your doors, and ask a friend to come with you. There is strength in numbers, and you will be less of a target with another person.
While it’s fun to let loose on vacation, you should always be aware of the people around you. Whether you are shopping, walking or eating in a restaurant, never take out large sums of money in front of others, as this can attract the wrong attention. Organize your money before you go out, and bring only what you need for the day.
Whether you have cash or credit cards, there is no safer place for money than on your body. A money belt is a travel necessity that reduces the risk of theft. The belts have a fabric zipper pouch, and they fit comfortably across your waist or stomach.
Effective Ways To Keep Your Money Safe While Travelling
Put the belt on your body before getting dressed, and put your clothes over the belt. This is not only the perfect place for credit cards and cash, but also your passport or driver’s license. Zip the bag and your money is safe from pickpockets.
Losing or stealing your phone or laptop can give someone access to your financial apps and other personal information. A thief can pull your bank account or credit card information and make fraudulent purchases. To ensure your security, password protect each device to keep your information safe, and program devices to automatically turn off after a minute or two of inactivity.
The way you handle your money while on vacation either increases or decreases your risk of theft. Thieves are betting that tourists will let their guards down, and for those who do, they’re ready to swoop in and grab cash and credit cards. Carry as little cash as possible, use common sense and regularly monitor your credit and bank statements.
Valencia Higuera is a personal finance junkie who enjoys reading articles about budgeting, saving money and credit cards. She has written personal finance articles and blogs for several online publications. She has a B.A in English from Old Dominion University and currently lives in Chesapeake, Virginia. Every drop makes an ocean. Similarly, every rupee you save can come in handy in the future. In this article, we offer you ways to save money in the most unlikely ways.
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