A thin wallet is not necessarily the sign of a poor owner, but smart one. Carrying too much stuff packed into a small organizer is a good sign of someone who is not financially organized. It is also an easy target on a crowded street. In this day and age of online banking, credit cards, cash advances and debit cards, the potential loss or having a wallet stolen is a good reason to limit what kinds of items are kept within the leather folds.
What kinds of things should you keep in your wallet?
- You have to have your ID. We are often asked to show proof of identification; a driver’s license and government ID are both acceptable forms of identification.
- Keep a personal informational card. On this card, you can state a phone number to call if found. You will also want to list any medical emergency information on it just in case it is found during a health emergency.
- Cash is accepted everywhere. It doesn’t have to be much and a few smaller bills is more convenient than one large bill. Using cash may get you a better deal or at least make for a quick simple transaction.
- Carry a personal debit card with you. This gives you access to money in your checking account. Be aware of the daily balance to forego any potential fees. Using your own money for purchases will keep you from borrowing third party money.
- If you run your own business, keep a business debit card with you. Make separate purchases against the company’s accounts to limit business debt.
- Keep your daily receipts organized in your wallet. Empty those nightly and record transactions. Keeping track of expenses will help you build better budgets for both business and personal finances.
- You may want to store gift cards in a safe place until you know you are going to use them. If lost or stolen, you will not be able to replace their value. When you know you will be using them in the next few days, go ahead and place them in your wallet, otherwise, keep them out.
- Store membership cards quickly build up bulk in a wallet. Some stores offer key chain attachments for easy access. If it is a store in which you frequent often, keep it in your wallet. If not, then you may want to store them in your vehicle.
- Coupon cards which keep track the items purchased to reward you later can be stored in your wallet in the same manner as membership cards. Keeping too many will only add unnecessary bulk.
- Medical or insurance cards are often times kept in wallets. If you rarely frequent the doctor you can keep them at home.
- One credit card for emergency purposes only. Write down all the card information and keep in readily available by the phone just in case you do lose your wallet or it gets stolen. you will have the necessary information on hand in order to call and freeze the account. It is also good to have your bank info as well to do the same to debit cards.
If you do lose your wallet, an online cash advance can help.
Safeguarding your personal accounts and leaving unnecessary items out of your wallet will only help to prevent problems. Know what to do for cash help if something does happen. Have a separate credit card at home for emergencies; utilize a cash advance to for quick bank account relief. Never keep your social security card or number, birth certificate, passwords or personal identification numbers. Don’t carry credit card statements or loan agreements. Keep your wallet trim and your daily transactions organized.
