Taking time off to enjoy a well-earned holiday is both exciting and relaxing to anticipate, nevertheless it is imperative to plan appropriately and take the appropriate precautions necessary before departing. Since nothing can inconvenience a holiday as rapidly as losing your hard-earned money. Tourists unfamiliar with a new location they are visiting are easy targets for pickpockets and scammers who may rob, cheat or trick you readily if you do not stay vigilant and protect your wallet, bag, phone and other valuables. Don’t be an easy target and have your holiday ruined by hustlers.
Below are five straightforward and practical ways to keep your holiday money safe when travelling abroad:
1. Limit Your Use of Cash and Credit
By utilising cash, debit or credit cards as your main means of payment for your holiday expenditures can cause an abundant amount of risk. To begin with, it is not uncommon for tourists or travellers to overspend on holiday, which puts them over their initially planned budget, this can have dire consequences if not managed properly. Additionally, the loss of your debit or credit card through theft or misplacement will cause severe problems that may lead to credit card fraud or stolen personal information.
The use of cash as a primary payment method has several problems including an increase in spending and risk of being stolen. Therefore, the ideal method of payment during your travels is by using a prepaid card. As you have loaded the card beforehand, you can easily stick to a definite budget and it is easier to conceal and more discreet to use. Before you go, be sure to check what forms of payment are primarily accepted at your destination.
2. Utilise the Multi-Stash Technique
If you choose to use cash as your primary means of expenditure, don’t hold it all in one location such as your wallet. In its place, use the multi-stash system which involves breaking up your money and keeping them in multiple secure places, this method will decrease the chances and repercussions of possible theft. For example, you can retain some travelling and shopping money in your wallet, but store your remaining funds within your suitcase or hotel safe. By practicing this method, you do not put all your finances at risk and in the unfortunate event that you’re pickpocketed, the potential loss will be reduced as you will still have most of your money safe in other locations.
Furthermore, the occurrence of theft is not limited to outside the hotel so take heed of your important belongings and make sure they’re not lying around openly. Otherwise the bank is the designated safest place to hold your holiday finances, so only withdraw money as necessary and not all in one time.
3. Avoid Isolated ATMs
Remote ATMs such as those which are not visible from a main road or have shops and restaurants within its proximity, offer the perfect situation for a credit card thief. Alternatively, it is safer to use ATMs situated inside your hotel or nearby populated locations and take heed to not withdraw money late at night or within the early hours of the morning. Keep these essential precautions in mind and you will reduce your risk of robbery significantly.
4. Keep Cash Out of Sight
While it is enticing to spend money on vacation for activities and shopping, you should constantly be mindful and aware of the people around you. As you spend your time shopping, eating out at a restaurant or other recreational activities, be cautious to not pull out large amounts of cash in front of other bystanders as this will often draw the wrong type of attention. Alternatively, it is a lot more sensible to use your prepaid card, due to its more private function where no one will know how much value it has preloaded into it.
5. Use a Money Belt
Depending on whether you choose to use cash, a prepaid card or traditional debit and credit card, the safest location to keep your assets is directly on your body. Using a money belt assists in keeping your money concealed and secured while also significantly reducing the possible risk of pickpocketing or theft. Characteristically, money belts are zipped pouches made of comfortable fabric which can be adjusted to fit securely across your waist or stomach. Using a money belt is easy as you simply securely fasten it around your body, then dress as you usually would; this ensures that your clothes will conceal the belt from observation. This concealed stash the most optimal place to keep your cards, cash, and other important documents you may need to carry such as your passport and national ID.
Scammers and hustlers recognize that many tourists will be less concerned and mindful while relaxing on a holiday, and consequently are ready to take advantage of the situation. The methods you choose to employ in safeguarding your money directly influences your chances where theft is concerned. Take note that carrying only the essential amount of cash necessary and relying more on your prepaid card will keep you safer throughout your vacation.