The excitement of a holiday after having worked throughout the year is huge, the fun and the relaxation is thoroughly deserved. However, it’s important to be aware of the potential pitfalls of any holiday, especially when it comes to the safety of your money, as having a wallet, purse or bag stolen could all too quickly turn a dream holiday into a nightmare.
Here are some safety tips on how to keep your money safe when traveling:
Limit Credit and Cash, Use a Prepaid Card
Relying on credit cards and cash as primary payments method while on holiday can prove to be an unwise decision. This is because credit card users could overspend on their holiday, or worse yet become a victim of credit card fraud, leading to significant financial problems once they return home. On the other hand, cash isn’t an optimal choice either – because you can easily lose your holiday money if you’re unfortunate enough for your wallet or purse to be lost or stolen.
Alternatively, using a prepaid card can be a safer means of securing your cash while on holiday. Using a prepaid card is almost the same as having cash on you but is far safer than carrying around a stack of foreign currency.
Prepaid cards can also assist when it comes to budgeting your holiday, as they’re not connected to your bank or credit card account, meaning that the funds you’re able to spend are limited to what has been loaded onto the card.
Avoid Secluded ATMs
It’s important to avoid Secluded ATMs, as those that cannot be seen from the street or nearby locations could prove to be convenient spots for any would be thieves. If circumstances allow, it’s always preferable to use ATMs located inside banks, rather than stand-alone machines, as they’re far less likely to be outfitted with a skimming device to steal your card’s information. Other good choices would include ATMs located inside your hotel or in busy areas. Plan your ATM visits wisely and try to avoid visiting them at odd hours, such as late at the night or in the early morning.
Keep Cash Out of Sight
Don’t leave cash or cards lying around your hotel room. Theft doesn’t only occur outside the hotel – hotel staffs can easily access your room, and if your room door is accidentally left unlocked, other hotel guests could also potentially enter and steal your belongings.
Use the Multi-Stash Method
If you must rely on cash, never carry all of it in your wallet. Avoid keeping cash, credit cards and wallets in the same bag or pocket. Instead, break up your cash and hide some of it in different spots to reduce the impact of theft. If you have a travel partner, it can be wise to divide it between yourselves.
While it’s fun to let loose on holiday, you must remain vigilant of the people around you. Never pull out large sums of cash in front of others, as this can draw the wrong kind of attention.
While most valuables should be safely hidden away, keeping a small amount of local currency in a separate place where it’s easily accessible is a good idea, as this will allow you to make the odd purchase without having to flash all of your cash.
Use a Money Belt
Aside from loading funds onto your prepaid card, an alternative, safer option is to stash cash on your body. A money belt helps reduce the risk of theft – these belts can fit comfortably across your waist or stomach and are the perfect place for hiding your prepaid cards, cash, as well as your passport or driver’s license. Position the belt on your body before dressing, and then place your clothes over the belt. Zip the pouch and your valuables are now safe from pickpockets.
Conclusion
The security of your valuables is your responsibility, therefore the way you handle your money on holiday either increases or decreases your risk of losing your valuables. It is important that you carry as little cash as possible, using a prepaid card instead of a credit cards or cash where you can, and be sure to regularly monitor your account online. There’s a saying “when you fail to plan, you plan to fail.” Take proper travelling safety precautions and you’d have a trouble-free holiday.
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