The views expressed in Economy Matters are not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System.
Editor's note: Throughout Economy Matters, "Southeast" refers to the six states that, in whole or in part, make up the Sixth Federal Reserve District: Alabama, Florida, Georgia, Louisiana, Mississippi, and Tennessee.
Financial Tips from the Atlanta Fed: Summer Travel
Take time to safeguard your financial well-being before you jet off or hit the road for summer fun. Our tips may just help you relax more to get the full benefit of your vacation.
- Review your existing insurance policies. For example, understand whether your rental car is covered as part of your auto insurance. Consider if other insurance, such as travel insurance, is needed for your trip.
- If you are using a debit card at check-in for your hotel room, the temporary hold placed on your account may exceed the total cost of the room and taxes to cover incidentals and other potential charges. Additionally, the hold may remain for a period of time after check-out. Plan ahead to ensure that funds are in your account to cover these holds to avoid overdraft fees and so that you have adequate funds for your entire trip.
- Limit the amount of personal identification that you carry with you in case your belongings are stolen. If your debit or credit cards have been stolen or you believe that your accounts have been compromised, be sure to contact your account holders and consider other steps to protect your identity.