Unwrapped travel

Money makes the world go round, and if you’re careful with it it will take you a good distance round the world as well. Here are some suggestions on how to both protect your money and make it go that little bit further.

Cash, credit cards and traveller’s cheques
Cash — nothing beats it for convenience. It is also a favourite target for a thief, so protect it carefully — do not keep all your cash in one place.

More and more people are travelling solely on credit cards — mainly for the convenience and the ease with which family of friends back at home can send them more cash. There’s nothing wrong with the convenience of a credit card, but give your card’s terms and conditions a good read — particularly regarding overseas ATM withdrawls — Australian banks in particular have some rapacious fees in this regard — during a recent two week trip to Vietnam, our Commonwealth Bank credit card incurred almost A$100 in overseas transaction fees — not impressed!

Traveller’s cheques on the other hand have clearly displayed charges and are easy to replace should they be lost, and can be used at least as widely as credit cards. The vast bulk of places in Cambodia and Laos DO NOT accept credit cards.

We’d suggest travelling with a mix of all three. Carry a few hundred dollars in cash, get a credit card from a bank that doesn’t rob you blind for simply accessing your money, and the rest of your money in large denomination traveller’s cheques.

Got the cash, now protect it
Get a money belt and keep the bulk of your money, credit cards and traveller’s cheques in that. Keep photocopies of your credit cards and traveller’s cheque numbers in another location (eg in your daypack or wallet), perhaps even keep another copy in your free email account.

Never keep all your money in one place.

If you’re staying in a guesthouse or hotel with a safe, use it.

Never pack your money in a bag that will be stored out of your sight (eg in the hold of a bus).