Many of us amp up our travels in the summer (especially to escape this heat!), and money safety should be at the forefront of every decision made. While traveling domestically or internationally, you have to be concerned about theft in general, but the majority of it is identity theft, online email takeovers, as well as card readers that hijack your card numbers and pins.
Here are some tips to help you safeguard your wallets, and help to ensure your vacations and travels are stress-free money-wise.
One of the last things you want to do when traveling is someone trying to steal your wallet, purse, jewelry, or briefcase/laptop. Make it a point to leave your more expensive items at home, unless they are absolutely necessary.
Another trick, especially if traveling and using your laptop in internet cafes, etc., is to at least make eye contact and say hello to the people around you. That human connection and facial recognition can be the slightest thing that would deter someone from attempting to rob you.
Early to Bed, Early to Rise
When the sun goes down you should, too! More theft occurs in the evening than during broad daylight, so if you keep earlier hours, you can avoid these types of situations.
Separate Your Monies
One of the best things you can do is keep cash, wallets, cards, and passports in places where they are safe location-wise, but where they are not all in the same place collectively. Some people put their cash in their socks, interior jacket pocket, or in an interior purse pocket. You might put your cards in the hotel, but bring a wallet with an ID and a debit card.
I have a friend who insists on keeping multiple wallets when traveling– one in his front pocket and one in his back pocket. The one in the front is the one where the majority of his valuables are, and the one in the back usually has a $10 and some grocery cards, primed and ready in case of a pick-pocketer.
However you see fit to split up your valuables, just make sure they aren’t all in the same place, ready for the taking.
Scan, Photocopy, Notify
Whether you are traveling domestically or internationally, be sure to scan and photocopy your travel documents including itineraries, reservations, tickets, passports, credit cards, and identification cards. Another option is to take pictures of your important documents and save them on your phone or computer.
Before you embark, let people you know and trust in on your travel plans (and touch base with them while you’re away). Give them copies of your documents, keep hard copies on your person, and send scanned copies to yourself, in case you need to access them while you’re away from the hotel or have lost the hard copies.
Most importantly, notify your banks, credit unions, and credit card companies that you will be traveling. There are alerts they can turn on and off depending on where you’re going, and can set temporary daily spending limits at a lower rate than you may have on your card. And don’t forget to notify your financial advisor!
If you are a client and are planning to travel out of the country, please let us know ahead of time so we can be aware and take measures to ensure your financial safety.