Going on holiday is something that everyone looks forward to, but despite the excitement, it remains crucial to plan ahead and take precautions in regard to finances while away from home.

There is nothing that will ruin a holiday as quickly and certainly as losing money, with some countries having pickpockets that zero in on tourists, particularly those who fail to be alert and are not extra careful with their bag or wallet.

The good news is that there are a number of ways that tourists from the UAE and elsewhere can keep their finances safe while away from home and avoid becoming an easy target.

One good tip is to limit the use of cash while on holiday and make more use of credit cards instead.

Using credit cards more than cash has its own issues, as doing so can increase the temptation for users to overspend more than they would otherwise do when using physical cash.

However, the big problem with using cash is that it cannot be replaced if it is lost or stolen while the user is on holiday, which can result in the whole of the holiday budget being destroyed in one go.

The difference is that in the event of a credit card being lost or stolen, the cardholder is not liable for any unauthorised charges that may be carried out with it.

Even those who hold debit cards can receive refunds should any fraudulent purchases be carried out with it, even if it does usually take a couple of days for that refund to come through.

While it is a good idea to still carry some physical cash when you go on holiday, it should be limited to as small an amount as possible.

Travellers should ensure that they go on holiday with at least one credit card but set a daily budget for themselves in order to ensure that they do not overspend.

It is also a good idea to remember that no more should be spent using the credit card overseas than will be easy to pay back in full when the due date arrives back home.

There are many excellent travel cards available from banks in the UAE that allow users to earn rewards while they spend with the card overseas.

The rewards that can be earned via UAE travel credit cards include the likes of air miles, vouchers and cashback, depending on the nature of the particular credit card involved.

Another good tip is for travellers to make certain that they have kept a record of their customer service and account numbers.

In the event that a debit card or credit card is lost or stolen, it is important to report it as soon as possible, but this will be very difficult to do while away from home if the customer service number on the card and other account information is inaccessible.

Make sure that the information is taken on holiday but stored somewhere safe, away from any cash or credit cards.

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