Traveling smart with money

If you’re making plans for a trip abroad this summer, you’ve probably given some thought to how you’re going to pay for expenses. But are you really prepared?

You might think carrying cash is a good thing, but you’d be wrong. You should have only a small amount of cash for emergencies, tipping and bus or cab fare. The more cash you carry, the bigger your loss if you’re the victim of a pickpocket.

Take a couple of credit cards, but be sure to check with the card issuer about charges for foreign purchases and any restrictions that may apply. Also, the Federal Deposit Insurance Corporation recommends that you let the card issuers know you are traveling abroad so they won’t view charges as possible fraud. And of course, take a list of phone numbers that you might need in an emergency, including numbers for the credit card issuers.

Most of all, have fun! And please write.


Follow WTOP on Twitter.

(Copyright 2011 by WTOP. All Rights Reserved.)