What NOT to Keep In Your Wallet

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We love the motto "be prepared."

But when it comes to the average American's wallet, there's such a thing as over-prepared. From the looks of our bulging billfolds, we must be heading out each day to open a new line of credit, fill out a W-2, shop at several department stores, use a few gift cards, return an item or two, and grab a fro-yo at our favorite punch card spot on the way home.

1,000 wallets and purses are stolen every two minutes in America. (44% of LearnVest readers have had their wallets lost or stolen once, while 8% have had theirs stolen twice or more). While it's smart to be concerned with online security (check out our article on creating the perfect password here), 76% of identity thefts result from the theft of something physical, like a wallet. Additionally, it costs an average of $8,000 to recover from identity theft.

Kids Are the Latest Identity Theft Victims

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Most police who receive reports of stolen wallets lament the same thing: people carry way too much stuff in their wallets, handing their entire lives over to identity thieves.

So before you leave the house, read our list of what NOT to keep in your wallet, so you can pare down to just the essentials—and protect your finances and identity.

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  • http://senseofcents.blogspot.com/ Michelle

    My friend keeps her social security card right where her driver’s license is supposed to be.  I have repeatedly told her that it’s extremely DUMB to do that.  She for some reason believes that’s what the slot is for in her wallet…

    • Anonymous

      Maybe when she bought the wallet the little piece of cardboard said “driver’s license”, “social security card”?

  • Lilybeth Tempest

    We’re actually required by law to carry our social security card in addition to our driver’s license, because our state doesn’t have a database to link up with other state’s driver’s license databases, so the police must run your social security number if you’re pulled over. Which, of course, goes out over the airwaves!

    • http://senseofcents.blogspot.com/ Michelle

      That’s crazy! Your state needs to change that!

    • http://www.facebook.com/people/Susan-Bewley/100000644207137 Susan Bewley

      wow, what state is that?

    • http://www.facebook.com/people/Susan-Bewley/100000644207137 Susan Bewley

      wow, what state is that?

    • http://www.facebook.com/people/Susan-Bewley/100000644207137 Susan Bewley

      wow, what state is that?

  • http://neatfreakwannabe.blogspot.com Jenna

    Great tips.  Although I would never carry around my passport or social security card, I do have a few of the other things (checkbook, giftcards, receipts).  I need to take 10 minutes and pare down just to what I actually use!  Not only is it safer, it’s simpler as well.

  • JuJu

    This is a great article.  Short and helpful.  And I appreciate the statistics, esp. on the idea of including baby photo.  Thanks so much!

    • http://senseofcents.blogspot.com/ Michelle

      I thought the baby photo was a good idea also! I guess I’ll have to find a picture of someone else’s baby. :)

  • Han

    Most foreign countries do not recognize drivers licenses as a legitimate form of identification. Passports are the only valid form in many places.

  • Han

    Most foreign countries do not recognize drivers licenses as a legitimate form of identification. Passports are the only valid form in many places.

  • JHyatt

    I clicked through to the article to find what was the #1 thing that would get my wallet returned…..and it wasn’t mentioned anywhere!  Did I miss it?  

    • HL

      The very last slide — a baby photo.

  • gjack71

    Useful info, but slideshows are a bad user experience. Why couldn’t this be presented in a single page? (Oh, I know: more pageviews and ad impressions this way.)

    • Amy H.

      I agree! I don’t need a photo to know what a passport or a wad of cash looks like.

    • Frogers_fine

      totally agree with the slideshow – it has been shown that with each click required of a user the more people stop clicking

    • Frogers_fine

      totally agree with the slideshow – it has been shown that with each click required of a user the more people stop clicking

    • L.M.

      9 times out of 10, I don’t read an article on here because there’s a slide-show. They are a pain for those with limited internet!

      • Guest

        They are a PAIN for anyone…limited access or not!  I hate them! Seldom finish the article when I see slide-show!

  • AnonymousCoward

    OK, I’ll stop carrying my checkbook in my wallet…. what???

  • Anonymous

    Well I don’t have any kids… would it make me a narcissist to have my own baby photo in my wallet? lol

    • Cmustian

      Not at all.  The criminal or good sam that finds will not know it is you anyway!!!

  • Anonymous

    If you’re in a foreign country also have a copy of your entry visa/stamp and the number of the closest embassy/consulate.

  • http://profiles.google.com/kathader76 Kathy Anderson

    My wallet got stolen several years ago at the mall and it had e v e r y t h i n g in it (but my ss card).  Luckily, the information desk let me use their phone–in a matter of 10 mins, all my credit cards and bank accounts were notified, transit card replaced, etc.  Someone ended up finding it in the garbage (sans cash and gift cards), but my lesson was learned.  I now carry around the Jimi (www.thejimi.com) –the wallet for people who hate wallets.  No room for a ton of stuff, and no one really knows it’s a wallet anyway!

  • Payne Jr Web

    What good is this suggestion, when you HAVE to carry your Medicare insurance card with you and it has the social security # all over it!!!

    • Concerned

      The Dept. of Veterans Affairs changed the ID number on their cards from the SS number to a different one. I’ve written my Congressmen several times about having the number on the Medicare card changed, but apparently the retards reading the request do not seem to understand or tell me of the complexity for this project. 

      • mufasa

        You make a good point about the medicare card, but please don’t use the word “retard” as it is hurtful to people.  thanks.

  • anon anon

    A Non-Password Protected Phone
    What about ICE info?  If you PW protect your fone emergency officials will not have access to your ICE info.  

  • hre

    everyone else has my SS number – my insurance, my employer, my clinic, my hospital, my dentist, etc. Any disgruntal worker at these places has access to it. They have all my info. If I was a thief I would work at one of these places.
    Hopefully I did not give anyone any ideas!!

    • SRMwpb

      you are so right. especially the doctors offices and the employees do get approached by theft rings to steal all the personal information.

  • hre

    everyone else has my SS number – my insurance, my employer, my clinic, my hospital, my dentist, etc. Any disgruntal worker at these places has access to it. They have all my info. If I was a thief I would work at one of these places.
    Hopefully I did not give anyone any ideas!!

  • Geslingjob

    Not carrying your passport may sound great – but as a foreigner visiting the US – it is needed as ID each time you transit an iaport – even for domestic flights, and many tourist attractions now ask for photo id and won’t accept my home country driver’s licence.

  • Smartassyankeegirl

    Guess being broke, with no credit cards is the safe way to go..yaeh me

  • Arnie

    Lol, I just noted – A.) Gift cards, a checkbook, and receipts are listed both on THIS page (as a bad idea) and in the article on what you SHOULD have in your wallet (tho I think both argue that receipts should regularly be cleaned out).  Isn’t this a bit of a conflict?
    B.) Another thing should be noted – as far as your SSA card, some places do require you to carry that, since federal law now forbids state IDs from displaying it.  As for the passport, if you’re an average national citizen actually in your country of citizenship, it might be a good idea to leave it at home unless you need it.  However, if you plan to do any international travel (such as foreign vacations, or if you regularly cross national borders in your commute), it’s actually required to have your actual passport on you – NOT a photocopy.  MOST nations do NOT accept any documentation from a foreign country except a passport. If in doubt, check the laws of where you live/work/travel to know for certain (this line goes for both passports and SSA cards).

  • Lillycellphone

    Unfortunately, to obtain senior discounts one is required to produce a medicare card. Against all sanity, it uses your social security number. So, lose a significant discount (on transportation, or point of sale for food or other products) or lose your identity. Hmmm….

  • Nicole Emanuel

    Just saw the video on DailyCandy and had at tip:After recently losing my wallet (thankfully my “night out” wallet with minimal contents and not all those Christmas gift cards!!) I realized that I wish I had a few of my business cards in there, in the hope that someone did find it and was nice enough to return it, they would know how to contact me.  My drivers license had my old address which is another good point, to keep that updated too!

  • sfcat

    No receipt should EVER have your full cc number on it, unless it’s a carbon. Carbons are rare these days, all electronic receipts are required to comply with PCI standards which do not allow all numbers to show.

  • sfcat

    A good recommendation- when you get your driver’s license, shell out the the extra for a state id as well. Then put it in a safe place at home you won’t forget. In case your wallet/dl is lost or stolen- or even a ticket- you have a legal substitute picture id available. it makes a huge difference.