What’s in Your Wallet?
A wallet — or, conversely, a purse — a bit like a junk drawer. Things go in, rarely come out, and after a while you forget what's there. The trouble is that a lost or stolen wallet can create problems far beyond replacing a few cards.
Let’s talk about wallets.
What’s the Big Deal?
A friend of mine once misplaced his wallet during a busy afternoon. He wasn't worried at first. A driver's license, a credit card, maybe twenty dollars. Annoying, but manageable.
Then he started thinking. Behind the credit cards was his Social Security card. Tucked into another slot was a health insurance card, a debit card tied directly to his checking account, and a folded sheet of paper with personal access codes and passwords scribbled on it.
In a matter of minutes, the situation changed. He began wondering who now had access to enough pieces of his life to impersonate him, access his finances, or open accounts in his name. Suddenly, losing his wallet became a much bigger deal.
Think Practical
Most people carry more sensitive information than they practically need. Your driver's license, a credit card or two, and a health insurance card are usually enough. Almost everything else you need is on your phone — an electronic device with a higher degree of security. The goal of a wallet or purse isn't to carry everything you own, right? The goal is to carry only what you'll realistically need before you return home.
Here’s a Couple of Tips
The good news is that this problem can be solved in five minutes.
Leverage tap-to-pay. Store your credit cards electronically on your phone. A credit card stored in a mobile wallet such as Apple Wallet or Google Wallet is usually more secure than carrying the physical card itself.
Take advantage of the apps already on your phone. Many department store cards, loyalty programs, membership cards, and rewards accounts can be stored electronically instead of taking up space in your wallet. Every piece of plastic you leave at home is one less thing to replace if your wallet is lost or stolen.
Store things you rarely use — passports, birth certificates, Social Security cards, and documents containing personal identification — somewhere safe at home. Heck, don’t take the kitchen sink with you everywhere you go. Practice taking only what you need.
Don’t keep passwords and access codes in your wallet. Store them on your phone.
Memorize an emergency contact number. Don’t keep important numbers anywhere but locked behind your phone.
If your wallet disappears, act quickly. Contact your bank and credit card companies. Replace identification documents as needed.
If You’re Helping a Senior Citizen
Seniors should be especially cautious about carrying around Medicare cards. Those details can be valuable to scammers.
It's common for older adults to carry medical information, appointment cards, prescription details, emergency contact lists, or notes containing account information. While these items are carried for convenience, they can reveal a surprising amount of personal information to the wrong person. Remember what I always say: convenience is the enemy of security.
Wallet pictures are great conversation starters, but they're also a window into a person's life. Granny might not realize it, but photos can be used in image-based searches and manipulated in AI. Further, family photos can reveal the people a senior cares about most, and that information can be useful to scammers who specialize in building trust through personal details. While a photograph alone may not seem sensitive, combined with other information found in a wallet, it can help a stranger piece together a much larger story than most people realize.
Some seniors also carry large amounts of cash "just in case." While keeping a small emergency fund can make sense, carrying hundreds of dollars in cash can turn a lost wallet into an expensive problem. Unlike a credit card, cash cannot be canceled or recovered.
If You’re Concerned About ICE
Some in our community face additional risks when carrying personal documents. If you are concerned about immigration enforcement, think carefully about which documents you carry every day and which can be stored safely at home.
Avoid carrying paperwork that reveals more information than necessary. Documents containing detailed personal, family, employment, or immigration information can become difficult to replace and may expose sensitive details if lost or stolen.
Consider memorizing a trusted emergency contact number.
Some people also choose to carry a wallet-sized "Know Your Rights" card that explains their rights during an encounter with law enforcement or immigration authorities, or a contact card for a legal aid organization.
Families may also benefit from discussing an emergency action plan in advance. If a phone, wallet, or important documents become unavailable, everyone should know who to call, where key records are stored, and how to reach trusted friends or family members.
The less personal information you carry, the less personal information can be lost, stolen, or used against you.
The Minimalist Approach
Okay, here’s an even bigger picture for the tech savvy in the crowd: why carry a wallet at all?
Yeah, imagine Morpheus leaning in: Is that really air you’re breathing?
Why carry an unencrypted hunk of personal private information that can be taken from you? That’s so 20th century.
In today’s world, nearly everything you need can be stored on your phone and, by extension, presented with your phone or digital watch. Setup your iPhone’s Medical ID or Android’s Safety & Emergency Settings. Plus, check out your state’s status on using digital IDs. Yeah, even your Driver’s License can be stored securely on your phone in some states.
Kickboxing. The sport of the future.
And if you lose your phone? Or it’s stolen? Big whoop. Everything’s encrypted. You’re out nothing but the expense of getting a new phone.
Ideally, think about how can almost everything you need be secured behind an electronic, encrypted, portable device. Oh, wait! You have one of those! It’s your phone! You carry it with you everywhere!
Wrapping It Up
Open your wallet. Yeah, do it now or you never will. Remove anything you wouldn't want a stranger to see.
Chances are you'll discover a few things you've been carrying without any real reason. Most of it’s redundant to what’s already on your phone.
Some good news: your wallet will be lighter — potentially even saving you from back pain — and if it ever goes missing, so will a lot of unnecessary worry.
I like to think of my wallet as an emergency kit. I keep what’s necessary, remove what isn't, and review it every few months. The less you carry, the less you can lose.
R
