Keeping You and Your Money Safe When Traveling is important. That is why we offer to you 7 tips on money and traveling.
Whether you are traveling 100 miles from home or 3,000 miles overseas, leaving home without taking some steps to help protect your financial well-being can be a big mistake.
At Nationwide Debt Reduction, Inc. we have devised seven travel tips to help guard your wallet from the unexpected.
I. Keep an Eye on Your Money
When you are traveling, you may think it is too much of a trouble to monitor your bank balances or credit card accounts. However, thanks to today’s electronic gadgets such as smart phones and iPad® applications, text messages or emailed account alerts, you can keep tabs on changes to your bank or credit card accounts on a regular basis. In addition, if you let your creditors know to notify or alert you on anything suspicious, they will do that for you.
II. Let Your Credit Card Company Know You Are Traveling
A foreign charge on your credit card could arouse any bank’s or credit card companies’ suspicion, which could then prompt it to freeze the account. To avoid that scenario, let your bank know, especially if you will be traveling out of the country.
III. Guard Your Mail & Newspapers
An overflowing mailbox, or a driveway full of newspapers is a sure signal of your not being home for any length of time. The Post Office will hold your mail for any length of time for you, however it requires going to the Post Office that services your home. Newspaper companies will do the same.
IV. Do Not Advertise Your Absence
Some people are so eager about taking a trip that they want to tell everyone they know about it, especially in this day and age of social media outlets, such as Facebook® and Twitter®. Nationwide Debt Reduction, Inc. recommends that you wait until after your trip to tell everyone about it. In addition, ensure that all members of the family are on board with this as well, even if they are not making the trip with you.
V. Rental Cars and Insurance
It is quite possible you or your travel agent would have reserved a rental car in advance, however, once you get to checking in, you may have some decisions to make. The one decision we strongly urge you not to make is to purchase the “gas option.” This is where the rental car company will tell you that if you do not bring the car back with exact amount of gas they rented the car out to you, they will take of it for you…for about double what you would pay on your own. Therefore, do not purchase this option and stop to get gas before turning your vehicle back in.
Another thing you will want to check on is your insurance coverage. Rental car companies charge anywhere from $5.00 to $25.00 per day on certain types of insurance coverage per the contract agreement. We always recommend that you contact your insurance coverage regarding rental cars before you go on your trip. This way you will know what you do and do not need at the rental car counter.
VI. Make Sure Your Affairs Are in Order
We all know we are going to die some day. However, most of us do not know the time, date, or hour…thank goodness. Therefore, we always recommend that you have all your affairs in order, such as a will and your beneficiaries know what is going on before embarking on that Alaskan cruise or trip to the Holy Land.
VII. Check Your Health Coverage
Anytime someone gets sick or injured it can presents obstacles for us. Those obstacles are only magnified if this happens when you are far away from home, or even worse in a foreign country. Therefore, it is always prudent to check with your health insurance company before heading abroad, especially if you are going to need medical transportation back to the United States. Check with your health insurance agent or company to see if they have an added benefit you can add for just your trip.