Traveling is an exciting experience to get out of the comfort zone and explore new places but it also comes with challenges. Challenges of accommodations, transportation, and saving money from frauds.
Thieves of burglars are found everywhere and they target the new and tourists as they know they will surely have money. But you can be smart too about your money to avoid scams of money while traveling. There are various ways to protect your money and spend without any hurdle when you needed. In this guide, I have discussed the best ways and tips to keep your money safe while traveling.
12 Ways to Keep Your Money Safe While Traveling
Here are the ways that help you to keep your money safe while traveling or exploring new places.
1 – Notify Your Bank of Your Travel Plans
Before you embark on your travel journey, it is an important step to secure your finances and notify your bank of your travel plans. This simple but effective step can save you from potential hassles and inconveniences.
So, if you already informed your bank about your destination and travel dates ensure they are aware of your card usage in a foreign country. It will reduce the risk of your transactions being flagged as suspicious or fraudulent. It’s a proactive measure that takes only a few minutes but can make a world of difference and smooth financial transactions during your travels.
2 – Set up Travel Alerts on Your Accounts
Travel alerts serve as an additional layer of safety. so, If you are traveling for the first time, set up your account alerts as you will get notifications, emails, and texts when someone uses your card. If this transaction is not from you, then you can immediately take action against your card users.
In this way, you can block your card for unauthorized transactions to keep your other money safe in the account. It is a piece of mind that only you are using the card for your restaurant or shopping bills.
3 – Have a Mix of Payment Methods
Do not make the mistake of relying on a single payment method while traveling. Be wise and adopt different payment methods for your bookings, restaurants, shopping, or other aspects. It is a good idea to avoid digital scams.
You can use cash instead of a card where cards are not necessary. On the other hand, you can use your credit or debit card for payments instead of cash to keep money safe while traveling. However, not all places are the same so you can be smart to use the method accordingly.
4 – Use ATMs as Needed
If you use frequent ATMs, it will increase the chances of scams or theft of credit cards. So, don’t use ATMs widely especially in public areas ATMs. For example, if you need $100 in a day withdraw $100.
If there is an ATM in your hotel or nearby then use it for your cash withdrawal.
It’s important to apply ATMs at authentic places, like banks, and be cautious of any hidden charges or detrimental exchange prices. In this way, you can minimize the quantity of cash you bring at any given time and reduce the risk of loss or theft.
5 – Withdraw in Small, Manageable Amounts
As mentioned above, withdraw the money as much as you need. A small amount of money is a wise decision to easily manage your expenses and reduce the stress of stolen or theft of money.
Carrying a large amount of foreign money can be risky, particularly in crowded or unfamiliar places, as it can make you a goal for robbery. You ensure that you have enough cash for daily expenses without carrying excess, and you’ll be less likely to be overwhelmed with foreign currency that you may not spend during your trip.
6 – Use a Money Belt or Hidden Pouch
Using a money belt or hidden pouch is a sensitive yet highly effective way to keep your money and important documents safe while traveling. It will save and hide your money and documents under your garments which makes it difficult for thieves to steal or snatch your money.
Not only stolen risk, but it also keeps safe and easily carryable documents and money. You can keep storing cash, passports, credit score cards, and other important documents in a money belt. It’s an easy precaution that can make a sizable difference to your basic journey.
7 – Keep Essential Cash and Cards Concealed
While you may need to access your money regularly, it’s crucial to do so secretly. This means not openly displaying a large wallet or bulging pocket of cash, which could attract unwanted attention.
Instead, opt for a compact wallet or cardholder that fits snugly in the front or interior pocket of your clothing. Alternatively, consider using a money belt, hidden pouch, or even a neck pouch to keep your essential cash and cards close to your body and out of sight.
9 – Store Cash and Cards Separately
If you are going out to your travel destination, especially in crowded areas, you need some proactive strategies to keep your money safe. One of them is to keep your cards and cash in separately. It will save you from the unfortunate event of theft or loss.
If you keep your cash in one pocket and cards in another pocket reduces the risk of losing both payment methods.
For example, you might store cash securely in a money belt or hidden pouch while carrying your cards in a different wallet. Additionally, leave an emergency stash of cash in your accommodation’s safe or another secure location.
9 – Keep an Eye On Your Surrounding
Being in an unfamiliar area is scary, especially in high crime rate areas and hubs where pickpocketing is more common. Always look around you and be aware of your surrounding people and their activities. This is because tourists are easy targets for scammers.
If you maintain situation awareness it will help you to quickly spot and avoid risky situations. However, keep an eye on strangers while using ATMs, shopping, and dining on local streets.
10 – Exchange Money Ahead
As a new person in a region, you may not be aware of exchange rates. It is important to avoid hidden costs or unfavorable exchange rates and change your currency ahead of time.
Many banks and currency exchange services offer competitive rates for pre-travel currency exchange, and it can be especially beneficial if you’re arriving late at night or in a location with limited access to currency exchange facilities. However, it’s essential to research and compare rates from various providers to get the best deal.
11 – Secure Your Devices With Strong Passwords
In today’s digital age, our smartphones, tablets, and laptops often contain a wealth of sensitive information, like access to your bank accounts and credit cards. To save your money, you can use difficult and distinct passwords for each device and an online account. It will add a robust layer of protection against unauthorized access.
Further, you can enable biometric authentication, such as fingerprint or facial recognition, where available, as these methods are highly secure and convenient.
12 – Avoid Counting Money in Public
Counting money in public draws the attention of people towards money and burglars are always looking for that. It’s best to count your money separately, preferably in a private or secure location.
When you need to pay for something or make financial transactions, do so discreetly without displaying your complete money. This simple yet effective practice keeps you inconspicuous and less vulnerable to opportunistic thieves. It will also ensure a safer and more enjoyable travel experience.
Sum Up
Well, these are some ways to keep your money safe while traveling. However, it is a smart approach to be prepared for your journey. It gives you a piece of mind to pay your bills and travel expenses without worry.
With these tips such as notifying your bank, using secure payment methods, and practicing situational awareness, you can minimize the risks associated with financial mishaps and theft.
From the moment you begin planning your trip to your return home, these precautions are your allies in maintaining financial security and peace of mind. Remember to be vigilant, stay discreet in handling money, and, above all, never share personal or financial information with strangers.
