An overstuffed wallet is waste of space, whether it’s in your pocket or
pocketbook. And it’s not doing your finances any favors either. A simple and
well-organized billfold can save you time, hassle, and if you stay organized,
even earn you rewards. Here are the only six items to keep in your
wallet.
Basic Contact Information
First, it’s
smart to have some basic contact information in your wallet should it ever get
lost. It’s best to include your phone number where it’s easily visible. While
you’re at it, make sure to include some emergency contact information as well,
whether it’s the phone number of a spouse or roommate. According to Emergency
Lin, 89% of us fail to include this basic information in our wallets or cell
phones, yet it can prove helpful in case of an emergency. You may have personal
identification buried somewhere in the form of a business card or I.D., but it
may not be readily clear that it’s your wallet.
Business Cards
Separately, you may want to keep some
business cards in your wallet, because you never know who you might meet. Better
yet, save the wallet space and go digital. Apps such BeamMe, SnapDat and DropCard make
exchanging information easy.
Cash
You may think
it’s passé to carry cash these days when you can make nearly any purchase with
your bank card or smartphone, however consider that $25 to $50 is enough to
split a restaurant bill with a friend and cash always comes in handy in an
emergency.
Plastic
Debit or credit cards help
with everyday transactions, but if you have more than a few you may want to
place the ones you use more frequently near the front — for example, your
low-interest credit card or rewards card — and leave the extras in a safe place
at home.
Government I.D.
Your wallet’s biggest
weakness is probably all those membership and loyalty cards, but remember that
your government-issued I.D., such as your license, is a valid substitute and
should be all you need. Try slimming down with services like Passbook, a new iPhone feature that lets you access reward
card information, boarding passes, tickets and even coupons from your
phone.
Insurance Cards
Next, carry your dental,
vision and health care cards in your wallet whenever going to the doctor, and
especially keep you primary care card on you at all times in case you have go to
the hospital in the event of an emergency. However, be aware that Medicare cards
still display social security numbers. Experts recommend using a photocopy and
blocking the digits except the final four. This should work for all follow-up
visits.
Another way to lighten your load is to clear out those receipts daily — and
especially shred those receipts that contain any personal banking information.
For receipts you want to save, keep them safe by going digital. Apps such as Lemon Wallet and Shoeboxed create and
categorize digital copies of your receipts and business cards.
You may
think this goes without saying, but never keep you passport, social security
card, birth certificate or anything containing passwords in your wallet or
purse. It’s a huge security risk. In the event you have a lost or stolen wallet,
you want to know what you’re missing. Every few months, take inventory of your
wallet by making a list, photocopy or even a digital scan of all its contents.
Keep that list in a safe place.
(source-finance/yahoo.com)
