wallet

8 Things a Frugal Woman Should Always Carry

Sarah Winfrey — Wed, 20 Apr 2016 10:00:09 +0000

Sometimes it's hard to be frugal. I know this from my own experience, and from years of observing and talking to other people about how they spend. It's easy to have frugal intentions but it can be incredibly difficult to stick to them.

One of the best ways I've found for sticking to my frugal goals is to make it as easy as possible. If it's harder to spend money than not to, I'm more likely to keep the cash in my bank account.

I avoid spending by making sure that I have a few things with me whenever I leave the house. Here is my list of helpful frugal tools I always keep with me. (Note: Many of these items would be great for frugal men, too!)

1. Hair Tie

If you're like me, when you want your hair up, it simply has to go up. I can't tell you how many times I've run into Target for hair ties because I forgot one, and ended up buying so much more than just the hair ties (because, Target!). Now, I hook a tie or two onto my keychain, so I've always got one with me.

2. Gift Cards

It's easy for me to tell myself that I'll only spend so much every week at Starbucks and Chik-fil-A (because I have small children), but it's hard to stick to that. I've started carrying gift cards around instead of using the apps on my phone. I put a certain amount on the cards at the beginning of each week or month, and that's all I have. And because it's tougher to reload a physical card than it is on an app, I'm way more likely to stick to my budget.

3. Cash

Similarly, I give myself a cash allowance every week. I look at what I need and want, I look at my budget, and then I decide how much I get to spend on me and put that amount, in cash, into my purse. While I still carry a credit card for emergencies, it's a lot easier not to use it when I have an amount, in cash, that realistically represents my spending needs. My husband does the same thing, and we offer each other accountability when we look over the credit card bills at the end of each month.

4. Coupons for Favorite Items

Couponing is not a huge part of my life, but I always keep an eye out for discounts offered on items that I like or usually buy. When I see these, I put them straight into my purse. That way, when I'm shopping, I don't have to do anything except pull out my coupon bag and flip through it quickly. I save money and it's almost effortless.

5. Healthy Snacks

I can't tell you how many times I've spent money on food simply because I got hungry. I'm someone, who, when I'm hungry, I have to eat now, and my kids are the same way. That has gotten me into trouble more times than I can count! Now, I keep a stash of healthy snacks in my purse and another in the car. That way, there's always something around that I feel good about eating, and I don't have to spend a dime.

6. Safety Pins

At first glance, it might seem strange to carry safety pins. But just wait until the day when your bra strap breaks, or you get an awkward rip in some part of your outfit. Without safety pins, you'd have to go out and buy a new item wherever you could find it, at whatever price. But with them, you can rig a fix until you can get home. Then you can fix the problem or find a frugal replacement.

7. Painkillers

Ever get a headache in the middle of the day? Buying single-serve packets of painkillers from a convenience store is super expensive. Instead, carry just a few pills with you. It's cheaper, and you get to use a painkiller that you choose, rather than whatever they have on the shelf.

8. Stain Eraser Pen

Many stains will set unless treated right away, which means you'll have to replace the dirty item... unless you have a stain pen with you. Treat the stain as soon as you notice it, and chances are that you'll be able to salvage your clothes. This saves you money because you won't have to replace things nearly as often.

What do you carry at all times to help you save money? Share with us in the comments!

This article is from Sarah Winfrey of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Ask the Readers: When Was the Last Time You Cleaned Out Your Wallet?

Ashley Jacobs — Tue, 18 Sep 2012 10:36:42 +0000

Editor's Note: Congratulations to Lisa, Marcus, and juggler314 for winning this week's contest!

Wallets. Almost everyone has one. Most people use their wallet to carry around cash, credit or debit cards, and their drivers license. Some people will store receipts and notes in theirs. Regardless of what you keep in your wallet, chances are there are things in your wallet you can either store somewhere else or throw away.

When was the last time you cleaned out your wallet? Do you have things in your wallet right now you could get rid of?

Tell us when you last cleaned out your wallet and we'll enter you in a drawing to win a $20 Amazon Gift Card!

Win 1 of 3 $20 Amazon Gift Cards

We're doing three giveaways — one for random comments, one for random Facebook "Likes", and another one for random tweets.

Mandatory Entry:

Post your answer in the comments below

For extra entries (1 per action):

Go to our Facebook page, "Like" us, and leave a comment on this article telling us you did, or
Tweet your answer. You have to be a follower of our @wisebread account. Include both "@wisebread" and "#WBAsk" in your tweet so we'll see it and count it. Leave a link to your tweet (click the timestamp for the individual URL) in a separate comment.

If you're inspired to write a whole blog post OR you have a photo on flickr to share, please link to it in the comments or tweet it.

Giveaway Rules:

Contest ends Monday, September 24th at 11:59 pm Pacific. Winners will be announced after September 24th on the original post. Winners will also be contacted via email.
You can enter all three drawings — once by leaving a comment, once by liking our Facebook update, and once by tweeting.
This promotion is in no way sponsored, endorsed or administered, or associated with Facebook.
You must be 18 and US resident to enter. Void where prohibited.

Good Luck!

Tell us when you last cleaned out your wallet and we'll enter you in a drawing to win a $20 Amazon Gift Card!

This article is from Ashley Jacobs of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

10 Things You Should Do Immediately After Losing Your Wallet

Paul Michael — Mon, 30 Apr 2012 10:36:08 +0000

This article is made possible by our underwriter Equifax.

We all know that sense of panic when we realize that our wallet or purse is missing. If you’re like me, half of your life is in your wallet. Credit cards, debit cards, ID, insurance cards, money — you name it, it’s in there. And if it falls into the wrong hands, it could be devastating. The least that can happen is you lose a little money. But you could be the victim of identity theft and fraud that could have repercussions for years.

So what do you do should the worst happen? Here is a checklist for you, featuring some very important numbers and a little advice that you should follow today to help you keep your valuables safe and make reporting a lost wallet a lot easier.

1. First of All, Is It Actually Lost or Stolen, or Just Misplaced?

I can’t tell you the number of times I thought my wallet was lost only to realize that it had fallen out of my pocket in the car or I left it in my desk drawer at work. The steps that follow are designed to render the contents of the wallet useless to any would-be thief or opportunist. But they also make life very difficult for you if you later find your wallet down the side of the sofa.

You may want to call some of the places you’ve been recently, like restaurants, stores, and the mall. People are more honest than they’re given credit for, and will usually hand in a wallet or purse if they find one.

So before you continue, make sure you’ve looked in all the places it could be, and know for certain that it has gone for good. If it really is missing, start with number two.

2. Call the Issuers of Your Credit, Debit, and ATM Cards

Now, many people will tell you to cancel your cards immediately, but that’s not actually what you want to do. Cancelling the cards puts wheels in motion that could leave you in a mess, especially with your credit score. What you actually want to do is report the cards as lost or stolen. This is very different than canceling, and every card issuer has a procedure that will suspend those numbers to keep your money safe.

The numbers for the four major card companies are as follows:

MASTERCARD: 1-800-627-8372 (US) or 1-636-722-7111 (Global)
VISA: 1-800-VISA-911 (1-800-8472-911) or 1-303-967-1096 (Global, call collect)
AMEX: 1-800-528-4800
DISCOVER: 1-800-347-2683

If your cards are issued by a bank or credit union, call them as well. If checks (including travelers checks) were in your wallet, they can handle that accordingly.

After that’s done, make sure you get new cards sent to you ASAP with brand new account numbers. You’ll want the same credit limits as before, the same (or lower) APR, and any miles that you accrued to be transferred.

Finally, if any of those cards were used for automatic debits, you need to inform those companies within a day or two. If you don’t, your account will not be paid, as the card will be rejected. You could go past due and owe fees, or even have your service suspended. If it’s a debt that doesn’t get paid, your APR could shoot up, or you could get a black mark on your credit score.

3. Put a Fraud Alert or Credit Freeze on Your Accounts

The three major credit-reporting agencies — Experian, Equifax, and Trans Union — need to know about your loss immediately. With a fraud alert in place, any creditor will have to verify your identity before approving any new credit. This is usually done with a phone call to a number you put on file with the fraud alert and makes it almost impossible for a thief to run up huge bills on your behalf. The numbers you need are as follows:

Experian: 1-888-EXPERIAN (1-888-397-3742)
Equifax: 1-800-525-6285
Trans Union: 1-800-680-7289

4. Report the Loss or Theft to the Local Authorities

Don’t trivialize your loss as something that the police don’t have time to deal with (but also don’t think they’ll be jumping on the case; there won’t be a crime squad trying to track down your wallet). The reason for this step is to provide evidence in your favor should you become a victim of identity theft or fraud. If it happens, you don’t want to be explaining why you didn’t report the loss. Some information the police may ask you includes:

Where and when you believe you lost your wallet
What was actually in the wallet (amount of money, credit cards etc.)
A description of the wallet itself
If stolen, any suspects or a description of anyone suspicious

When you’ve finished filing the report, keep a copy for your records.

5. Go to Your Local DMV to Report Your Missing Driver’s License

Everyone I know keeps their driver’s license in their wallet or purse, and it’s something that can be used in identity theft and fraud. So you want to get in touch with your DMV as soon as possible to report the loss. Although you can call, it’s much better to have someone drive you there so that they can process your application quicker. They will then follow steps to reissue a license, which varies from state to state. You may be liable for fees as well.

The DMV will almost certainly ask you to file a police report, too, which is why step four is so important.

6. If Keys Are Missing, Change the Locks

If your wallet contains a house key, you don’t want to risk a break in. Even if the wallet is returned in tact, someone could very easily have copied the key. In fact, it’s a known way to rob a house —”lift” the wallet or purse, jot down the address from the driver's license, copy the key, then hand it all in to the police.

So if you know for certain that house keys went missing with the wallet, change the locks. You can easily do this yourself these days; stores like Home Depot and Lowes have a vast selection of locks. Or choose a reputable locksmith to do it for you.

If the car keys went missing, that’s not as easy to replace. But your car may also be at risk of being stolen, so contact your local car dealer or garage and ask for their assistance.

7. If Your Social Security Card Is Missing, Inform the Authorities

Most of us know our SSN by heart and have no reason to carry it with us (mine is filed away safely at home). If, however, your SSN card was in your wallet, you need to report that loss immediately. The Social Security Administration will not issue you a new number, just a new card, so calling them won’t help with fraud and ID theft. You should take the following steps to reduce your risk of being an ID theft victim:

Call the IRS Identity Protection Unit at 1-800-908-4490
File the loss with the Federal Trade Commission at 1-877-ID-THEFT
Report the loss to the Internet Crime Complaint Center

8. Try to List Everything Else That Was in the Wallet

There are other items in your wallet that may seem insignificant but could come back to haunt you. These include memberships to movie rental stores, work ID cards and access badges, medical insurance cards, computer passwords, and padlock keys.

9. Order Credit Reports

Every year, you are entitled to a free credit report from each of the three major credit bureaus, without any strings attached. The easiest way to obtain these is to visit the Annual Credit Report site. Then, take a close look at them to spot any possible fraudulent spending.

10. Replace the Wallet With a New One

New is a relative term. You may have another perfectly good wallet or purse at home, perhaps a gift you haven’t had a chance to use yet. Or you may need to run out and buy a new one. You could even make one from duct tape. But you need to get your life back on track and fill this new wallet with replacement cards, checks, and all the other important stuff you had in your old wallet. Sure, your old wallet may actually turn up, but you can’t hang around waiting for that to happen.

Some Steps You Can Take to Prepare Before You Lose Your Wallet

Hopefully you’re reading this article to be informed should the worst happen. But there are steps you can take right now to be prepared. If you do lose your wallet, you’ll be in a much better position to protect yourself and get the steps above done more quickly.

Strip Your Wallet of Anything You Don’t Really Need

Is there a reason you’re carrying all those credit and debit cards? If you use one 99% of the time, like most people do, then it’s not wise to carry the others for those “just in case” moments. Carry one back up with your main card, and keep the rest at home. The same goes for anything that could help an ID thief, including SSN cards, addresses, phone numbers, passwords, and other personal info.

Scan or Photocopy Everything That’s in Your Wallet

I just did this recently, and I should have done it a lot sooner. Everything I keep in my wallet that’s important has been scanned into my computer. I keep it in a handy file on my desktop, and I’ll be updating it every three to four months. From my driver’s license and credit cards to health insurance cards and gift cards, they are all now available at the touch of a button. I also have a PDF of this file stored on my phone (password protected, obviously). If I do lose my wallet, I know instantly what has gone missing and all the numbers to call.

Try a “Lost Wallet” App

They do exist, and many of them are free. Just do a search in the marketplace of your smartphone, and you’ll find something that works for you. What these apps do is replicate the contents of your wallet, just like above, and then store the information with a secure password. Some apps also have a list of emergency numbers on hand that you can call straight from your cell phone.

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This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Staying Cool Without Burning Up Your Wallet

Ashley Jacobs — Tue, 26 Jul 2011 09:48:10 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some great articles on staying cool without burning up your wallet, credit card commandments, and handling out-of-reach goals.

How Cleaning Your Wallet Benefits You Financially

Xin Lu — Fri, 15 Jan 2010 15:00:04 +0000

It is not quite time for spring cleaning, but if you are a slightly disorganized person like me you may benefit financially by cleaning your wallet or purse.

Use Unspent Gift Cards

My husband was the first to clean his wallet since his wallet was getting extremely thick from the myriad of cards and receipts he keeps. After laying everything out he found that he had several gift cards with a positive balance on them. The gift cards totaled to almost $70 and he used them immediately to treat himself. I always encourage him to use gift cards as soon as possible so that the card values do not get deflated.

Lighten the Weight of Coins

When I cleaned my purse I found a bunch of receipts, and also a fairly large pile of coins. I routinely throw coins into my purse and it simply gets heavier and heavier. I am not sure how much money it came out to be, but it certainly lightened my purse quite a bit and it is now easier to carry.

Dispose of Expired and Unused Credit Cards

Both my husband and I cleaned out expired credit cards and ATM cards. This definitely reduces the confusion when we are searching for our credit and ATM cards and saves some time.

Organize for Taxes

If you have receipts in your wallet that need to be kept for filing your taxes, then it is a good idea to sort them out before they are lost. Receipts are also useful for flexible spending accounts.

The bottom line is that it is definitely a good idea to keep your physical wallet or purse organized so that you do not have to clean out a bunch of junk. If your purse gets cluttered as quickly as mine, it is probably best to clean it on a routine schedule. That way you will avoid carrying around trash and use your money more efficiently.

What was the best thing you found while cleaning your wallet?

This article is from Xin Lu of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Increase the Chance of Someone Returning Your Lost Wallet

Paul Michael — Tue, 14 Jul 2009 12:00:06 +0000

It’s not a fun feeling. You’ve reached the checkout at the grocery store, you feel into your pocket, or purse, and realize that your wallet is missing. You heart stops, you walk out without your shopping and proceed to panic. But there is one way you can significantly increase the chance of your wallet being returned intact.

If you’re like me, your life is in your wallet. From various forms of I.D. and insurance cards, to credit and bank cards, business cards, receipts and all sorts of other junk, my wallet is a portable filing cabinet. And to lose it is to lose your mind, at least for a while.

But what could you put in your wallet to dramatically increase the chances of getting it back? As Richard Wiseman, a psychologist found out, the answer was surprisingly simple – baby pictures.

As The Times reported on July 11 hundreds of wallets were distributed around Edinburgh, with different photos and contents.

Richard Wiseman, a psychologist, and his team inserted one of four photographs behind a clear plastic window inside, showing either a smiling baby, a cute puppy, a happy family or a contented elderly couple. Some wallets had no image and some had charity papers inside.

The results were conclusive. The wallets containing the baby pictures won by a landslide. A staggering 9 out of 10 wallets were returned. And when there was nothing in there at all, except the usual cards and cash, just 1 in 7 wallets came back to the owners.

Here are the results in full:

The baby photograph wallets had the highest return rate, with 88 per cent of the 40 being sent back. Next came the puppy, the family and the elderly couple, with 53 per cent, 48 and 28 respectively. At 20 per cent and 15, the charity card and control wallets had the lowest return rates.

So, why the massive difference between results? This all seems to be related to evolution:

..the result reflects a compassionate instinct towards vulnerable infants that people have evolved to ensure the survival of future generations. “The baby kicked off a caring feeling in people, which is not surprising from an evolutionary perspective,” he said.

Fortunately, I already have baby pictures in my wallet, of my two little girls. But what if you don’t? You could always ask a relative for a great picture of your niece, nephew or grandkid. But if you don’t have any of those options open to you, Dr. Wiseman has some sound advice: cheat.

“If you want to increase the chances of your wallet being returned if lost, obtain a photograph of the cutest baby you can find, and ensure that it is prominently displayed,” he said.

And if the worst should happen and your wallet does go missing, it’s wise not to wait for its return, even if it is showcasing the cutest baby on the planet. The FDIC Money Smart Education Program offers the following step-by-step advice:

1. File a police report.
Your bank and credit reporting agencies will need a copy of this report and its case number. Explain the following:

When you first noticed your wallet missing
Where you think it was lost or stolen
The types of currency and information that were in it.

2. Notify your bank.

Provide a copy of the police report and case number.
Be prepared to close your accounts and move your funds to new ones.
Ask your bank to contact the major check verification companies. They need to notify stores not to accept any further checks from your account.
Cancel your ATM card. Get a new one and set it up with a new PIN.

3. Cancel all of your credit cards immediately.

Your credit card companies will send you a new credit card with a new credit card number. They may also ask you about recent transactions to determine if they are yours.

4. Notify the three major credit reporting agencies:
For each of these agencies, ask for the fraud or security department. Ask them to put a fraud alert on your credit report.

Equifax – 1-800-525-6285
TransUnion – 1-800-680-7289
Experian – 1-888-397-3742

5. A few weeks after the incident, get a free copy of your credit report.

Use this to determine if fraudulent transactions have been made in your name.

Do you have any other tips for making your wallet safer of more likely to be returned? Let us know.