Vacations are meant to be a time of relaxation and enjoyment, but financial worries can quickly dampen the spirit. Consider our top 6 tips to ensure your hard-earned money stays safe while exploring new horizons. By following these guidelines, you can significantly reduce the risk of financial loss while enjoying your vacation to the fullest.
#1. Grab a pre-paid travel card and cash.
Large sums of cash may be risky to have anywhere, but they become worse when you’re traveling and don’t always know where you are. The money you need may vary depending on where you are going, but you should budget for things like stops along the way, gratuities, and purchases from street sellers and local markets. After that, you may make more significant purchases, eat at restaurants, and get more cash out of your travel card if necessary. If you carry both cash and a travel money card, you will have some cash on hand if something happens to your card, but most of your trip money will be safe.
#2. Make Use of Multiple Stashing
Not familiar with multi-stashing? It is precisely what it sounds like hiding your cash in several places. You’ll be in a bit of a financial bind even if you choose to take both cash and a card—both of which were taken from the same wallet. This is why keeping your trip money in different locations for storage and portability is wise. It’s advisable to keep a modest quantity of cash on you and place the remainder in a safe place. Maintaining a second bank card for trip money and cash will also provide an extra backup in case they are misplaced or stolen.
Asking yourself if losing this much money will spoil your vacation is the best method for deciding how much cash to withdraw. Alternatively, you might create a daily budget and withdraw only the necessary amount; this will keep you from going over your vacation budget and is safer!
#3. Exercise Caution While Putting Your Money in Multiple Accounts.
Multi-stashing is only a safe choice if you can access a secure location to keep your cash, bank cards, and traveler’s checks. Despite common belief, not all hotel safes are secure. Most hotels include a disclaimer that releases them from liability.
When you Google “good places to keep cash while traveling,” you may get many ideas. Some of the more unusual ideas include keeping cash beneath the bed, while others are more outrageous, including within TV frames and curtain hems (yes, these are real suggestions).
There can never be “one safe place” since each lodging will be unique; just remember where you have hidden it! Travel bags, pouches, and devices can make you look less conspicuous when carrying cash. These consist of leg pouches, money belts, waterproof swimming bags, and even a type of bra called a Travel Bra that contains compartments to hold cash, cards, a USB device, and your passport!
#4. Stay away from unlicensed money changers while exchanging money.
Unauthorized foreign exchange dealers are familiar and adept at stealthily taking money from foreign exchange transactions. Travelers frequently don’t even realize until it’s too late. Promises of higher exchange rates than conventional money changers are a common tactic many of these illegal dealers use to get customers into their businesses, which are frequently merely little shops or kiosks along alleyways. Use only reputable, authorized money changers to reduce the chance that this could happen.
#5. Use ATMs that appear secure.
The past several years have seen an increase in the usage of skimming devices, which thieves exploit to steal sensitive information from the cards you use at ATMs. Ensure you only use ATMs in safe, well-lit places to reduce the likelihood of using one that has been tampered with or could be a hotspot for thieves in general. These include places like large malls, banks, and hotels with security cameras installed.
#6. Protect Your Priceless Items
Though it may seem apparent, keeping your wallet tucked into your jeans or your purse securely closed may not be sufficient to protect your possessions. Being skilled at obtaining goods from the safest locations is a lucrative profession for many seasoned crooks. You might wish to keep all valuables in your front pockets for further security. Motorbike-related thefts, in which robbers on motorcycles drive by tourists on the street and take their bags off their shoulders, are becoming more common in some locations. Because of this, you should always position your luggage so that it faces away from the road. And never leave your things unattended.
Additional Tips
- Leave Valuables at Home: Avoid bringing expensive jewelry, watches, or electronics on your trip unless necessary.
- Take Photos of Your Belongings: Capture images of your passport, luggage, and valuable items for insurance claims.
- Emergency Contact Information: Keep a list of emergency contacts, including your bank, credit card companies, and embassy, readily accessible.
- Stay Connected: Maintain communication with loved ones at home to let them know your whereabouts.
- Trust Your Instincts: If something feels off, it probably is. Trust your gut and avoid situations that make you uncomfortable.
- Research Currency Exchange Rates: Understand the exchange rates for your destination to avoid getting ripped off. Consider exchanging a small amount of currency before your trip, but avoid exchanging large sums at the airport, as rates are often less favorable.
- Make Copies of Important Documents: Create digital and physical copies of your passport, visa, driver’s license, and credit cards.
- Consider Travel Insurance: Protect your investment by purchasing comprehensive travel insurance. This coverage can reimburse you for lost or stolen belongings, medical emergencies, and trip cancellations.
How to Keep Valuables Safe in Your Travel Bag
We can’t stress this enough: Never place cash or valuables in your checked luggage. People stroll into airports every day to take suitcases from baggage claims, or airport staff steal luggage.
For added precaution, many passengers are now including monitoring gadgets like AirTags in their bags. You could choose to get a bag with integrated security features for your carry-on or personal belongings to conceal and shield your valuables. Pacsafe travel bags are practically impervious to theft. Steel wire is included in straps to prevent bag slashers. Pickpockets are prevented by attaching zipper pulls to security hooks. Moreover, security hooks with a turn-and-lock feature let you fasten your luggage to stationary objects.
How Travel Insurance Safeguards Your Belongings
Suppose your luggage or other belongings are stolen while you are traveling. In that case, your baggage benefits may be able to compensate you for lost things up to the maximum amount specified in your plan: the real price, the actual monetary worth, repair or replacement, whichever is less. To learn about the specifics and exclusions, see your plan documentation.
Save the receipts for anything you purchased, especially for your vacation. While you are packing, take pictures of your luggage to record its contents. Just be sure you understand what your luggage loss benefit covers. There is a maximum limit for expensive goods like jewels and electronics, and stolen cash is not covered.
Never Forget to Have Fun!
Even if all of these suggestions for safeguarding your vacation funds may sound daunting, the most crucial thing to remember is to unwind and appreciate your journey. You’ll have an incredible trip hassle-free if you just keep your wits about you, don’t flaunt your cash, and exercise caution with your valuables!
