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Once you’ve booked your summer holiday, the countdown really begins. Whether you have a fortnight before you travel or a few months it’s a good idea to start thinking about your travel money. You’ll need to keep it safe, look for a good exchange rate and budget once you get to your destination. By carrying out a little research, looking after your money and shopping around you can make sure your money works hard for you on your next holiday. Follow these travel money tips to prepare for your next trip.
1. Keep Your Cards Safe
Card fraud is a huge problem at home and abroad especially through card cloning. If you are going to take your card abroad make sure you keep a receipt for all transactions and if you can, check your account online to ensure there are no fraudulent entries. It only takes a few moments for a card to be cloned and you may never be aware that it has happened until it is too late.
Keep your credit card provider’s emergency telephone number somewhere other than with your belongings. If they get stolen you can call your provider easily to cancel your cards. The good news is that most credit card companies will give you a refund on any fraudulent activities. Even better, leave your cards at home and take a prepaid travel money card or traveller’s cheques.
2. Don’t Leave Home Without Travel Insurance
Thousands of travellers get caught out each year by failing to take out travel insurance. This type of insurance is essential whether you are taking a weekend break or jetting off on a holiday of a lifetime. The moment you set foot outside your front door you need to be sure your money, your health and any other belongings are covered. Good travel insurance covers medical expenses, compensation in the event of holiday cancellation, loss of belongings and travel money, flight delays and can even cover emergency pet care if you are unable to make it home. There are some great deals to be had on travel insurance. Don’t risk your holiday being ruined by thieves or an accident. Get good quality cover for complete peace of mind.
3. Take Photocopies Of Those Important Documents
It might sound like overkill, but taking photocopies of your credit and debit cards (front and back), your passport and travel insurance is a good idea. Take a copy with you and also leave these details with a friend or family member back home. In the event of theft or losing any of your important documents, you can quickly get the details so that you can report the loss quickly and easily.
4. Make Your Money Go Further
Before you travel it’s a good idea to research exchange rates and foreign exchange companies so that you get the best deal on your travel money. You might be surprised to learn that airport and bank bureau de change counters are the worst places to exchange your money. Their rates might look competitive, but when you look online it’s a different story. The good news is that you can use a currency price comparison engine that effectively finds the best exchange rates from reputable foreign exchange companies within moments. Whether you are buying cash, travellers cheques or a prepaid card, it pays to check the markets.
5. Take Care With Your Cash
Taking out huge wads of cash in public is a bad move especially in bustling cities where pickpocketing is rife. Take out what you think you will need for the day or evening and leave the rest secure in your hotel safe. Many people also carry a little emergency cash in a wallet or belt or on pouch that sits under clothes. Don’t let the worry of theft spoil your holiday. Keep your travel money safe and make sure you buy that travel insurance!
About the Author: Aviva Tabachnik is a travel writer & head of partnerships at OPP award winning comparison site MyTravelMoney. Aviva has a passion for dance & has recently emigrated to Tel Aviv, Israel.
