It is easy to downplay the importance of money when it comes to international travel. While there are so many ways to see the world for next to nothing, setting a budget for daily travel expenses is just as important.
In an interconnected world, accessing and spending money around the world is becoming easier. Though technology has made the world a more accessible place, there are still plenty of ways thieves can part travelers from their money in travel.
Between crafty pickpockets turning theft into an art and debit card skimming techniques, there are many ways to steal money from unsuspecting travelers. What’s worse, travelers many times don’t know their items have been stolen until after the fact, leaving them without any money and a plan to replace it.
How can travelers make sure their money is protected as they venture around the world? By creating a plan, travelers can make sure their money goes away on their terms.
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Diversity is key: cash and card works best
When at home, travelers rarely carry just one form of money. Instead, many people opt to carry a combination of cash, debit cards and credit cards. So why someone would travel halfway around the world with just one way to spend their money?
Travelers should always plan on carrying a combination of monetary equivalents in order to make the most of their travels. In addition to carrying a small amount of local cash, travelers should plan on carrying at least two internationally accepted credit cards carrying one of the three major logos: American Express, MasterCard, or Visa.
In Asia, travelers should also consider carrying the Discover card, for acceptance at establishments that utilize the JCB or Union Pay networks.
Have a plan in case your travel money gets stolen
Though nobody plans on having their money stolen while traveling outdoor, the reality is that crime happens around the world. More often than not, tourists are seen as easy targets for a number of factors, including language barriers and misunderstandings of cultural idioms. Travelers who become victims should be prepared to empower themselves in the worst case scenario.
In a travel contingency kit, travelers should have the telephone numbers of their debit and credit card providers. In the event that a credit or debit card is lost or stolen, the first move travelers should make is alerting their card providers to the loss. Most cases, travelers will not be responsible for any fraudulent purchases made on their accounts, giving peace of mind during the most stressful times.
In the event a traveler’s checks is stolen, all checks are tracked with a unique serial number. As a result, check scan be replaced, with old checks being marked as stolen. This feature allows travelers to be reunited with their money faster.
Keep an emergency cash stash while traveling
Even with the quick replacement of traveler’s checks and credit cards, travelers may find themselves without any way to pay for their adventures if their money is stolen. This is why it is important to keep a stash of emergency cash while traveling.
An emergency stash can be as simple as local currency set aside in a hotel safe, or elaborate as traveler’s checks that can be exchanged for local cash at any bank. By keeping an emergency plan, travelers can make sure they have enough to take care of travel expenses, no matter what happens.
As with everything in life, diversity in spending money is a virtue. By diversifying how travelers carry their cash, everyone can make sure they are prepared for the worst while adventuring around the world.
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