Feb 062013
 

I think one financial problem that has plagued many people is losing their wallets. Some people put a lot of stuff in their wallets and when they lose it they have to replace multiple credit cards, Costco, Safeway, other membership cards or identifications, etc.. It’s a big hassle (╯°□°)╯︵ ┻━┻  But when I look at the pile of cards I have myself I realize that I don’t even use most of them on a daily, or even weekly bases. In order to simplify my life I have decided to always leave my wallet at home when I go out 🙂

I only bring what I need with me. That means on Mondays to Fridays I bring my driver’s license, a credit card, and a few banknotes with me to work.  These items hardly take up any space and is very inconspicuous in my pocket. When I go shopping on the weekends, I might only bring some cash for example. Most places I go to buy food don’t even accept credit cards so there’s not much incentive to take my cards with me (^v^) The point is to plan ahead and bring only what I need for that trip.

leave wallet at home

Leaving what I don’t need at home greatly reduces the risk of losing them, and also decreases the risk of identity theft. Not to mention, it deters impulse shopping, which not only saves money, but can also help me make those tough lifestyle decisions.  Oh look, buffalo wings for only $8.99. But I didn’t bring enough money today. Never mind, I’ll just go with the milk and eggs as planned >^_^< 

My friend got his wallet stolen at a gym before. Somebody broke into his locker. It’s no surprise that public changing rooms aren’t the safest place for personal belongings. If only he left his wallet at home. Even leaving the wallet in the car, and only bring his gym membership into the building would have been safer. At least there are security cameras in the parking lot and he has insurance if someone breaks into his car. We all know the saying don’t put all your eggs in one basket. Investors shouldn’t put all their money into one stock. So by extension I think neither should we put our personal identity and all our spending money into one foldable case, and then expose it to the outside world every day. I may have 99 other problems, but losing my wallet ain’t one 😀

12
Leave a Reply

avatar
5 Comment threads
5 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
6 Comment authors
anandmarathaLiquid IndependencePhilMy Financial Independence JourneyIntegrator Recent comment authors
  Subscribe  
Notify of
Pauline
Guest

I do that now, because the risk of mugging is alas higher in Guatemala than Europe, and it would be so complicated to get a new passport, driving license, etc. Like the keys, a key holder is a nice little object that helps you lose all your keys at once!

Integrator
Guest
Integrator

Good post- even more than leaving behind what we don’t need, what about not even having that in the first .If we didn’t have multiple credit cards, loyalty cards etc you don’t run the risk of having them stolen. I used to have 6 credit/debit cards. I worked out I only use 2 on a regular basis, so I cut the rest up. Its made simplifying my finances much easier. I know what I have to pay and when I have to pay it.

My Financial Independence Journey
Guest

I try to keep my wallet pretty slim. A couple credit cards (work and personal), some cash, drivers license, and insurance cards. Don’t need much else, but yet extra stuff always finds its way in.

Phil
Guest
Phil

Hum… time to check so I had: $185 cash, 9 cards (1x health card, 2x membership cards, 1x loyalty card, 2x insurance cards, 2x credit cards and 1x bank card) & 6 business cards (not my own -as I am a lazy investor who does not work ($U$)) – Cheers.

anandmaratha
Guest
anandmaratha

Hey. I want to drop you a quick note to verbalize my appreciation. I have been watching your web site for several days and have got a heap of excellent tips plus cherished the way you have built your site. I’m going to create my own site however I sense it’s very basic in addition to I want to focus more on certain topics.