Money Management Tips for Traveling

Whether you’re heading to the beach for a quick summer getaway, heading to the mountains for a winter ski trip, or just exploring a different part of the country, money management should be a top priority. Here are some tips on saving and spending when you’re on the road.

Save and Set Aside

Don’t rely on your debit card and checking account to get you through a vacation. You’ll need that money when you get home! Instead, start saving ahead of your trip. Whether it’s $20, $50, or $100, set aside a little cash from each pay check to go towards your vacation.

Also, rather than carrying around a wad of money the entire time (which you should NOT do), consider loading your savings to a temporary debit card, such as the NobleBank Visa Gift Card.

Carry Your Credit Card

Again, don’t rely on your debit card when traveling. Instead, use your credit card (just make sure you have a $0 or low balance before departing). Your credit card is safer because it doesn’t link directly to your checking or savings account, which protects you from potential fraud or theft when you’re abroad. Some credit cards also come with additional fraud protection. Just be sure to pay the balance when you return home!

Inform Your Bank

This is a good tip if you plan on traveling far away from home, especially if you’re going out of the country. Purchases from a long distance could raise a red flag, and you don’t want to risk having your card suddenly cancelled, leaving you without a source of funds.

A quick phone call to your bank should do the trick. Be sure to let them know when you’re leaving, where you’re headed, and when you’re scheduled to return home.

Have Back Up Cash for Emergencies

As we said, it’s a bad idea to travel with a wad of cash. However, you should have SOME back up cash stored away in your suitcase, car, or hotel room in the event of an emergency. Just make sure it’s secure.

Some hotel rooms come with a safe in which you can store your back up cash. If not, you can use a portable travel safe.