Be smart on your vacation or business trip and you won’t have to budget for a loss. Here are 7 tips that came to mind for being smart & safe while traveling. As I wrap up my trip in China these tips definitely come in handy!

1) Once you arrive at your vacation or business trip destination exchange your currency. Usually the airport will be the best place. Many times hotels or off site currency exchanges will have much higher exchange rates! This may seem small but doing it once in a larger sum can save you big money.   Then, once you exchange, don’t carry it all with you. Use your hotel safe or other safety options. Don’t put all your eggs in one basket

2) Depending on your destination it may be smart to carry a travel belt. I always feel like a grandpa wearing one (although I did when I was in Kenya) so I usually just move my wallet from my back to my front pocket. It is also a good idea to keep your passport in a very safe (un-theivable) spot.

3) Use small bills when possible. Flashing around your 500 unit bills will make you a sure target. When getting change keep all bills in site otherwise you may get suckered into the, “you gave me a smaller bill”, scam. However, pretending to have only larger bills can help with certain negotiations. Just be aware of your surroundings at all times!

4) Carry only 1 credit card if you can. There is no reason to overexpose yourself. Also, before you leave it’s a good idea to leave a copy of that credit card (and a copy of your passport) with a family member. This way in worse case scenarios a copy can be faxed or email to you.

5) When you pay with your credit card make sure to check 3 things…
a) the amount on the receipt is in fact the correct amount.
b) it is in fact your card (the same that you paid with).
c) you always get a copy of your receipt…even if you don’t normally, this is important when traveling.

6) Be very aware of your surroundings. Ever seen the Bourne Identity? The old fashioned bump and run pick-pocket’er is still very prevalent so check your pockets often and watch out for strangers in close quarters.

7) Be careful what you pack away. If you put valuable in your luggage you’ll have an excruciatingly difficult time getting them back when/if your luggage is lost. Your vacation could turn to a net loss if you lose the wrong piece!

• Make sure to pack accordingly. Having to buy clothes or other items while on your trip can be very expensive. If you start packing and planning early you’re much less likely to forget something important. However, if you’re going to a place like China, you could find some great deals!
  

• When it comes to bills make sure you remember the “non-monthlies”. Think about car titles, insurance payments, or maybe condo dues. Be sure to think ahead at least until your return to not miss anything out of the norm.

• Pay those bills for an extra week. Crazy right? No. What if you love our vacation so much that you want to stay an extra week, or heaven forbid something goes wrong.  Paying your bills for that extra week and you’ll give yourself some time to relax when you return.

• Planning ahead can save you a ton! Using a service like Yelp.com can give you more information on the costs of restaurants, hotels, and almost any other commercial establishment. Find the best combination of quality and price to really make your trip great! If you’re going abroad try out Tripadvisor.com for reviews.

• The last thing is to have a blast! Now that your ready for your trip, with your finances in order, you’ll be able to completely enjoy your trip, worry free!

This 3 part series of tips in preparing your finances for travel will help you to be prepared and have a worry free travel experience. The most important thing to do is to plan ahead, but here are some tips to get you on your way…

• Have someone watch the house. If you have someone you trust then leave them a key. At the very least, have a neighbor collect your mail so no unwanted visitors realize you’re away.

• Know what you need. Make a list before you leave so that you can make sure not to miss anything. Go to the ATM for extra cash and make your currency exchanges before you leave (the rates are cheaper). If you’re going abroad, you may need to look into travelers checks.

• Get your bills out of the way.  Just like any other time, your bills have to be paid. You can even pay them ahead of time! My suggestion is to use online bill pay and pre-pay your bill.  Whether it’s your cell phone or auto payment, no service is going to turn down early money. Take care of it early and be worry free on your trip!

• Clear out the fridge. Make sure to grocery shop smart and plan for your departure. For example, buy a 1/2 gallon of milk a week before you leave instead of a full gallon. This strategy will save your pennies and keep your kitchen from stinking!

Parts 2 & 3 of ‘Preparing your Finance for Travel’ still to come…