Having the right money travel tips will help you not only protect your finances but allow you to rest and enjoy your trip.  When you are traveling with money, especially abroad, you need to be aware of how to protect your finances.

When you’re traveling to a new place, you are vulnerable since you’re not familiar with your surroundings and the local culture. As a result, you may be putting yourself at risk for things like theft. How can you better prepare yourself for the potential dangers? In this article, we’ll explain how you can protect your finances while vacationing.

Here are smart money travel tips to keep your finances safe

Deter the pick-pockets

The excitement of a new place can overwhelm us, so we’re not paying as much attention to things like our security. Instead, we’re too busy photographing the beautiful sights and savoring the local foods. Pick-pockets may choose to target a traveler like you because they understand that you’re an easy target. Before you leave for your trip, devise a strategy for protecting yourself: be extra careful in crowded places, make copies of important documents and leave them with a trusted family member, put your cash in multiple places, and invest in a special anti-pick-pocket wallet.

Places to be careful:

  • Tourist attractions
  • Public transportation
  • Museums
  • Train stations
  • Restaurants/cafes/bars
  • The beach

Guard against identity theft

Did you know that travelers are at greater risk for identity theft? While you’re traveling, you may be paying for some services and accommodations online and buying things from many different merchants. During this time, someone might try to steal your identity and credit card information. To protect yourself, make sure you’re only sharing your credit card information with reputable and trusted websites. If you feel unsure about a merchant, then you can visit a review site like TripAdvisor or Yelp to read about other travelers’ experiences.

Here are some other ways to safeguard your personal information:

  • Avoid using public Wi-Fi – This is easy to hack.  Avoid using public computers, but if you must, be sure not to share any personal information and never do any banking or bill paying.
  • Use a mobile boarding pass – . Your airline boarding pass carries a ton of personal information like your full name and travel plans.  If you do have a printed boarding pass, always shred it up before tossing it in the garbage.  Or better yet, keep it until you return home.
  • Don’t pack valuable things in your luggage – Any sensitive documents should be in your carry on.  Furthermore, you should keep this with you under your seat as opposed to in an overhead bin.
  • Use your hotel safe for important documents. Unless you need them, keep all important documents locked up in your hotel. You should also think about having a second wallet on hand that has copies of passports, credit card numbers and phone numbers to your credit card companies.  Any extra money should be kept in this wallet too.  There is no reason to keep lots of cash in your first wallet.
  • Stay away from remote ATMs –  They may have skimmers.  If you do need to use an ATM, try not to do so very often and make sure the ATM you use is tied to a major bank.
  • Be careful with social media – Posting pics about your trip and talking about your travel itinerary  advertises that you have an empty house.
  • Verify any requests for personal info – Your hotel front desk may call and ask you for a credit card number.  Hang up and call the front desk to make sure the inquiry is legit.

Do your research

In some countries, it’s not uncommon for local business owners to target tourists and overcharge them for services. For example, you may get ripped off by a taxi driver or tour guides. However, you can be savvy and protect yourself against these opportunistic people. For one, you can take the time to learn the local language and understand the customs. That way, you won’t feel vulnerable or uncomfortable when someone is putting you in a questionable financial situation. In addition, you can follow the suggestion we mentioned above – check review sites and read about other travelers’ experiences before risking your money.

The right money travel tips are essential

Traveling should be a joy and an adventure. Being a victim is the last thing you want to experience during a trip. Do your due diligence and protect yourself and your finances.