The world is going digital, which means you don’t need to carry wads of cash with you when you travel. Unfortunately, this doesn’t mean that your money is safe all the time. That’s why you need to adopt these 5 tips to keep your money safe while traveling.
It’s elementary but needs to be said. If you’re not carrying cash with you then it is difficult for an opportunist to steal your money. Although there are digital technologies that can locate and take your funds, electronic funds are generally better protected. You’ll also be covered by the guarantee of the financial institute, effectively ensuring your money can’t be lost.
Of course, when you’re traveling, especially in remote areas, you’re going to need some cash with you. It’s advisable to keep it separate from your cards. A money belt may not be stylish but it is practical and much safer than pockets.
The majority of your funds when traveling should be electronic. But, that doesn’t mean loading a prepaid card and carrying it with you. After all, if you lose the prepaid card your funds are gone and someone else can enjoy them.
Instead, choose an account with great savings rates. This will allow your money to grow as you travel. You can then transfer the funds you need from the savings account to your payment card. That reduces the ability of anyone to extract funds from your bank as you won’t have much instantly accessible.
It also helps you to keep affording your traveling experience.
Any electronic/digital payment method is only as good as it’s password. That’s why you need to choose a strong password. This means avoiding anything too obviously linked with you. You should also include capitals, numbers, and special characters in every password.
Every password should be different, preventing access being granted to everything just by cracking one password.
Of course, it may get confusing remembering all the different passwords. You can record them but you should do so in code. This will make it more difficult for anyone to figure them out and access your funds.
Avoiding cash doesn’t mean your money is completely safe, especially if you advertize to people that you have money. Whatever you purchase while traveling, keep the purchase low-key, and the prices discrete.
If people don’t know you’re spending a lot of money you’ll be less likely to be a target, physically or electronically.
You need to know the phone numbers to call if an account is stolen or hacked. Also, you’ll need the card numbers. That can be difficult if they’ve been stolen.
Record all the details about each card now, including the number to call if you do have an issue. This will make it easier to alert the authorities and stop your cards, minimizing the loss if anything is stolen.
Taking a few simple precautions will allow you to enjoy the traveling experience instead of having to deal with missing cash issues.