BRING YOUR MONEY, SUNTAN LOTION… AND THESE TIPS

The last thing you want while on vacation is a financial hassle. Follow these tips to protect your money when traveling abroad.

First, streamline your wallet: driver’s license, ATM card, and two credit cards. Next, make two copies of your crucial information: passport, travel itinerary, debit card, and credit cards (plus customer service numbers). Hide the first copy in your luggage and give the second to a trusted friend. Finally, tell your bank and creditors you’ll be on vacation to prevent them from accidentally freezing your account.

While traveling, your top priority is to keep your cash and cards secure. Here’s a thorough example: keep your valuables in a pouch that goes around your neck and under your shirt, put emergency cash and your secondary credit card wrapped in wax paper under the liner of your shoe, and have a few bills in your front pocket for quick purchases (bonus points if the pocket is zippered). Whatever system you choose, remember that pickpockets look for distracted tourists fumbling about in their fat wallets or bulky purses. If your methods are organized, you’ll make quick, efficient purchases – and know instantly if something is missing.

With everything secure on your person (or in a hotel safe), it’s time to secure your purchases. Use your ATM card to withdraw cash from legitimate machines – preferably attached to or inside of a bank. Don’t pull out money if an unruly crowd of eyeballs is behind you and don’t walk away until your cash is out of sight. Don’t use your ATM card for actual purchases because it links directly to your checking account – which will be emptied quickly if the card is stolen or skimmed. If you use your primary credit card instead, your liability will be limited to $50 provided you report theft or loss of the card.

So be smart. Split up your cash into different pockets. Keep your eyes open while crowded into public transportation and get that fat wallet out of your back pocket. When the vacation is over, check your statements for errors and tell your banks and creditors you’re back home.

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