Vacation….Just What the Doctor Ordered
Yay! Summer has finally arrived! For many, that may mean going on vacation for some fun in the sun! Whether it is a quick getaway or a weeklong extravaganza, you want to enjoy your vacation as much as possible right? Here are 5 ways to protect your finances while out of town so you can focus on the more important things, such as which swimwear to pack.
- Limit your cards – Take only the bank/credit cards you plan to use and leave the rest at home. Make sure at least 1 card is an ATM card to allow you to access cash if need be. Don’t take anything with your social security number printed on it. Make a copy of medical insurance cards and take the only the copy removing the last four digits of the social.
- Use the safe – If staying in a hotel, put passports, extra cash, backup bank/credit card, electronics, and valuables in the safe provided.
- Make copies – Make copies of the bank/credit cards you are taking, passports, and itinerary. Put the copies in the hotel safe in case information is stolen you have the data to cancel cards immediately and still have your identification.
- Tell the bank/credit card companies – Prior to leaving, contact your financial institution for the card(s) you are taking. Let them know where you will be and the corresponding dates. Also, review all your transactions when you return to make sure no unauthorized transactions or amounts posted to your account.
- Protect your cash – Only carry enough cash for theday and put the rest in the safe. Keep an eye on your belongings when in public places by not placing your handbag on the floor or hanging off the back of a chair.
So you may not be going on vacation this summer, but you are dreaming of the one you will take soon. Here are 3 tips to make that dream become a reality.
- Spending plan – Decide how much you expect to spend and be specific including items such as travel, lodging, food, excursions, tips, etc.
- Budget – Add a line item in your monthly budget for your vacation spending plan in order to reach your goal in the necessary amount of time. This may require reducing other expenses to save or using other strategies for additional income.
- Automation – Take the thought out of it and setup an automatic transfer to a separate account (your vacation account) to meet your goal. Try not to have access to the funds in the separate account until it is time for your dream vacation.
Now go ahead and follow the Doctor’s orders by taking a much needed vacation!
