5 Things That Should Not Be In Your Wallet
What would you do if your wallet was lost or stolen? Although a lost wallet is a hassle, as long as you have taken the proper precautions it won’t be a disaster. If you only carry what you absolutely need then a lost wallet will only merit a couple phone calls to close some accounts and a trip to get a new ID card. If, on the other hand, you carry absolutely everything that you can cram into your wallet then losing your wallet can cause a lot more problems, some of which that will be devastating to your personal finances.
Don’t carry these things in your wallet unless you absolutely need to:
PIN: You should memorize your personal identification number instead of writing it down. If you have a little note in your wallet with your PIN, especially if it is attached to your debit card, you’ve just given someone else everything they need to know to know in order to pull money from your bank account. Don’t try to mask your PIN number by hiding it on a note in your wallet and trying to disguise the PIN as something else; professional thieves will know what to look for and will automatically understand that it’s your PIN.
Social Security Card: Your Social Security card should be locked up somewhere securely in your house so you can access it when you need to prove that you can work within the United States or for whatever other reason you need it for. Don’t carry it around in your card unless you need to, because it is all someone needs to steal your identity.
Spare key: Some people like to stick a spare house key within the folds of a wallet in case they lose their main keys. The problem with this is if your wallet gets lost then the person who finds the wallet has your key and probably has your home address from your driver’s license. Do you really want to give a stranger full access to your home?
All your credit cards: There is really no reason to carry every one of your credit cards, especially if you have several cards in your name. Imagine losing a wallet containing seven or eight credit cards and the chaos that may occur if someone gets to your cards before you can call all the lenders. Only carry the cards you need and leave the rest at home.
Important documents: Some high schools and colleges give mini-copies of degrees to graduates, suitable for carrying in a wallet. You may also be able to get a copy of your birth certificate in a wallet size. Don’t carry these documents in your wallet. If you lose your wallet then an identity thief will have a field day with your documents, and there really is no reason why these documents should be in your wallet anyways.
A good rule of thumb is to not carry anything in your wallet that you would want someone else to get their hands on. Not only can a lost wallet cause financial problems, but if you fill your wallet with naughty pictures or other things that you would not like made public then you are just asking for trouble.
