How to Protect Your Money When Traveling

Photo by Clay Banks on Unsplash

You work hard for your money. One of the last things any of us want is to end up having it lost or stolen, especially while traveling. Beyond just being generally annoying, unexpected money issues on the road can lead to a host of complications and even put your safety at risk. Accidents happen, and while there’s no way to prevent every possible mishap, taking the right steps to keep your money safe can mean the difference between an enjoyable trip and one you’d prefer to forget. Read on for some essential tips.

Diversify Your Finances

Diversification isn’t just for investments. When traveling, keeping your money in several different forms can help you stick to your budget more closely while reducing the risk of loss or theft. Avoid being completely dependent on a single source by carrying a mix of cash and cards, including a small amount of the local currency for immediate expenses. Save your credit cards for larger transactions, or consider using prepaid travel cards for added security.

Secure Your Bank Account

Before you depart, let your bank know about your travel plans to prevent any issues with transactions abroad. Set up notifications for every purchase made through your account, and if you need to access online banking, only do so through secure networks. As much as possible when using your credit card, try to opt for contactless payments, as this minimizes the risk of card skimming. 

Cover Your Cards

To protect your cards against digital pickpocketing, invest in an RFID-blocking wallet and keep everything inside a money belt or concealed pouch when walking around crowded areas. If you need to withdraw cash, stick with ATMs from major banks, and even then,  gently wiggle the card reader to make sure that no skimming device is attached.