highlighted the huge gulf in experiences between those who live with some financial back up and those who don't. In a recent broadcast Dominic Frisby, a financial journalist, described his experience of being stranded in Madrid and how he was able to make his way back to the UK because he had some financial plan B whereas many were stranded, sleeping rough many ending up getting mugged because they had gone on holiday, spent all their money and then were left with nothing. Equally trends forecaster Gerald Celente was recently caught up in the earthquake in Chile and was only able to get out because he travels prepared and had the cash to get a car and leave the city.
Whatever your situation, wherever you are traveling, however pain free your experiences have been in the past you never know what circumstances you will end up in and how you will react and what you will need.
Tips for Money Preparedness
• Have a $20 bill (or equivalent for your country) tucked away in your wallet, forget about it and never use it until that day when you really need it.
• Have 2 sets of emergency money, one you keep in your house and another in the bags you regularly use for travel
• Get into the habit of having cash. In today's world many people pay with cards even for the smallest of items. In the event of a banking holiday there will be no access to ATM's no debit machines in stores so plan to have enough somewhere that could last your for a couple of weeks.
• Always have some change on you or in your car - for a phone call for example.
• Carry an extra bank note somewhere other than your wallet, perhaps a pocket or bag.
