Seven Road Trip Finance Tips

These strategies can help you manage your money before and during a trip.

5/22/2019 1:00:00 PM
Road tripping finance tips.With a little pre-planning and self-discipline, it’s easy to stay financially healthy on a road trip. Here are seven tips for saving money and ensuring that your money stays safe during your travels.

1) Budget for your trip ahead of time

One of the best financial tips for road-tripping is to budget for it, as U.S. News & World Report contributor Holly Perez advises. As soon as you’re starting to consider a vacation, begin setting aside money from each paycheck to go toward trip expenses. The sooner you start setting aside money for your trip, the better prepared you’ll be for it financially.
You can make your saving automatic. Ask your banker about setting up automatic transfers to your savings account to set aside money for your vacation.

2) Notify your financial institution

If you’re traveling out of state, it’s wise to tell your financial institution what destinations you’ll be visiting. As consumer expert Andrea Woroch shares with Business Insider, this will help your financial institution from tagging these charges as fraudulent and potentially putting a hold on your debit or credit card.
If you’re heading out on vacation, please call customer service at 877-672-2265 or visit your nearby branch so we can make a note of it.

3) Bring cash

Make sure to bring cash with you on a road trip, since some establishments might take only cash instead of card. It’s also a good idea to diversify what bills you bring along, as Christine Sarkis with shares with USA Today. Store larger bills in a money pouch, wallet or under-clothing area for security. Store smaller bills and coins in a more accessible place on your person, so you can pay for souvenirs, food, attraction admission fees and transportation without having to pull out larger bills.

4) Store money in multiple places

It’s also important to stow your money in more than one place, as Sarkis recommends. That way, if someone steals your wallet or purse, you’ll still have enough money for transportation back to your hotel — or to a local police station to report the incident.

5) Report lost or stolen credit cards right away

If you misplace your credit card or it gets stolen during your trip, it’s important to act quickly. Per The Balance contributor Latoya Irby, call your credit card company to report the missing or stolen card as soon as possible. You can find the contact number for your credit card issuer on an online copy of a credit card statement.

Double check that you have the credit card issuer’s true website and phone number, as Irby advises, to avoid scams. The credit card company will usually ask you for the following information: the date and amount of your most recent purchase, the date the card went missing or got stolen and your account number.
If your North Shore Bank debit card is stolen, please contact us at 877-672-2265 right away.