Commitment to our readers
The GOBankingRates editorial team is committed to providing you with unbiased reviews and information. We use data-driven methods to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our review methodology for products and services.
20 years
Helping you become richer
trusted by
millions of readers
Although paper currency has gone the way of the dodo in many cases, sometimes you just want some cold hard cash on hand to make life easier when you travel. While many people don’t carry any cash at all, others have ways of storing their money.
Whether you are a regular or casual traveler, it is important to know where to keep your money so that it does not get lost or stolen while traveling. Here are six places you should never keep your money when traveling.
1. External pockets of backpack or luggage
You should know that when it comes to specific storage areas on your bag or luggage, some are more secure than others. For example, the back or outside pockets of your backpack or luggage compartment are not the best places to keep your money while traveling. These places not only lack security but are also easily accessible to pickpockets.
Continue Financial Literacy Month –
2. Pockets of outerwear
Not only should you not keep money in the outside pockets of your backpack, you should also avoid loose pockets on your clothes. Pant and coat pockets are places where money can easily fall out, or a thief can put his hands in it without even looking. You can hide your money in more secure locations or even try using zippered pockets and RFID-blocking pouches to deter thieves.
3. Unclaimed Hotel Room
Your hotel room may not be as safe as you think. Even if it is upscale and in a secure area, you should still not leave your money out in the open in your room. You never want to leave your information or money at risk of being easily stolen.
For example, try not to leave your card on the side table of your hotel room when you go sightseeing or go out for the day. Alternatively, if you want to leave something in your room, opt for hotel room safes, as they are the best option for locking passports, cash and valuables.
4. In one place
Unfortunately, savvy thieves know how to recognize tourists with money and are ready to use any opportunity to steal it. Be careful when traveling abroad and try to distribute your money among several places instead of keeping it in one place.
For example, instead of keeping it in your purse or wallet, try separating it into several safe places so all your cash isn’t in one basket.
5. In big bills
Traveling with cash is not a bad thing, but it can be more problematic if it is lost or stolen. With this in mind, carrying large bills may not be the best – or safest – option. Instead, try carrying small bills and only enough cash for wherever you’re going, and leave the rest in the safe back at the hotel.
Some lesser-known or smaller travel destinations may not accept cards, so be prepared for this before leaving on your trip. On the other hand, more popular destinations often have alternative payment options available if you don’t want to worry about having cash on you.
6. Easily accessible wallet
A person’s wallet is one of the most common places to keep cash, making it a prime target for pickpockets. This doesn’t mean you can’t keep your money in your wallet at all – it just means you need to be smart about it because thieves are more prevalent in tourist-heavy cities.
Don’t make it easy for them to find where you keep your money or wallet. Instead, keep your wallet in an interior pocket in your backpack or purse so that anyone has to go through a few layers to reach it.
Angela Mae contributed reporting to this article.
