Critique my plan for managing money while in Peru
I'm going to be in Peru for 40 days at the end of this month. As of now, my plan is to have my Schwab debit card as my main source of money, using it to pull cash from ATMs, probably about 300-600 soles a time depending on what I'm planning on doing for the next few days. I will also have a MasterCard which is solely for major emergencies as I am just an authorized user, it's actually my parents' account, which I don't want to use at all. I also plan to put about $100 USD in the sole of my shoe or something as emergency money, then hide some soles somewhere in my stuff when I get there and pull from an ATM. Does that all sound reasonable?
One thing I'm debating still is where to store my money. I don't want to keep it all in my Schwab account because then someone who gets my debit card could drain all my money instantly. Right now I use an app called Digit to save, and it can transfer money back into my account in about 3 days. I'm considering keeping about $300 in my checking always, the rest in Digit, and then just transferring from Digit as needed. Another option would be to open another bank account, especially if it has a physical location in Peru, and keep my money there until I want to transfer it. Also, I don't know if it'd be smart to get another debit card, in which case I'd need another bank account, so that would be the way to go. I'm also probably way overthinking this. I'm leaning towards keeping it in Digit and transferring as needed, but I'd really like opinions on everything regardless. Thanks!
Submitted May 01, 2018 at 08:57PM by mtnsrcool https://ift.tt/2HLRlft
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