Backpacking is a great way to explore the world and save money on travel costs. It’s important to be prepared and take the necessary steps to protect your money while you’re away. Here are some tips to help you keep your money safe when backpacking.
Carry Multiple Forms of Payment
It can be risky to rely on just one form of payment such as cash or a single credit card. Instead, consider carrying multiple forms of payment such as debit cards, prepaid cards, and travellers cheques. That way if one form of payment fails or is stolen, you have other options.
Be Wary of ATMs
When travelling in foreign countries it’s best to avoid using ATMs unless absolutely necessary. Be aware that ATMs can be Targeted by thieves who install skimming devices to steal card numbers and PINs. If you do need cash from an ATM, choose one located in a secure area such as inside a bank.
Protect Your Card Information
If you are using credit or debit cards for purchases, use caution when providing your card number. Don’t allow anyone else to handle your card and never give out your PIN number or other personal information over the phone or online.
Split Your Money Up
Rather than carrying all your money in one place, split it up into separate wallets or pouches that can be hidden in various locations around your bag. This will help reduce the risk of losing all your money if it is stolen or lost.
Use a Money Belt or Neck Wallet
A money belt or neck wallet can be worn under clothing for extra security and will help protect your valuables from pick-pocketers. They are lightweight, comfortable, and often come with RFID protection which helps prevent identity theft.