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Wallet Advice

Have you inspected your purse or wallet lately?

A friend’s mother lives in a nice assisted living facility. When her debit and credit card were stolen from her wallet, he was shocked. He didn’t know she kept them there. Now there are certain things you should never keep in your wallet except when absolutely necessary. Like, receipts. Shred them regularly unless you need to file them. The last four digits of your credit card numbers are enough for hackers. Don’t carry excess credit cards. One should be enough. Keep cancellation phone numbers at home in case of theft so you can contact companies if necessary. Have a plan to quickly deactivate any accounts should you lose your wallet or purse, and if you must write a check, only carry what you need, not the entire checkbook. Blank checks are a disaster in financial and identity theft. Don’t carry your Social Security card, Medicare card, passport or birth certificate on a daily basis, but only when absolutely necessary. The same goes for insurance cards. The only ID you need is a driver’s license unless you have a specific need to show another form of identification.

Do you carry a spare house key in your wallet? Bad idea. If a thief knows your address, they now have access to your home. Leave spare keys with a trusted relative, friend or neighbor. The Apostle Paul said, “Let the thief no longer steal, but rather let him labor, doing honest work with his own hands, so that he may have something to share with anyone in need.” (Ephesians 4:28) Our job is to be wise and avoid carrying things that would enable the dishonest. 

Now if you’ve been blessed with My MoneyLife, I invite you to discover the Crown Stewardship Podcasts. They focus on helping you find freedom in your finances and career. You can subscribe on Spotify and iTunes, or listen at