Avoid turning your life upside down due to identity theft. Experts emphasize the importance of safeguarding your information and possessions by reconsidering what you store in your wallet or purse.

Here’s a detailed breakdown of what not to carry and why.

1. Your Social Security Card

It’s one of the worst items to carry in your wallet. A stolen Social Security Number (SSN) is all thieves need to open credit cards, take out loans, or commit fraud in your name. Protect yourself by removing not only your Social Security card but also any document displaying your SSN.

Pro Tip: Some older driver’s licenses displayed SSNs. If you still use one, replace it before the expiration date. It’s worth the nominal fee for your safety.

Data Breach Risk

Kiplinger identifies 10 places where breaches involving SSNs are most frequent, including universities, hospitals, governments, and non-profits. Always question whether providing your SSN is necessary.

2. Password Cheat Sheet

Storing written passwords or PIN numbers in your wallet is a disaster waiting to happen. If misplaced, these notes put your most sensitive accounts at risk.

Better Alternative: Use a password manager app to securely store and organize your login credentials. If physical backup is necessary, keep it in a locked box at home rather than in your wallet.

Fun Fact: On average, people regularly use at least seven unique passwords, which is essential for online security.

3. Spare Keys

A wallet lost with your home address (visible on your driver’s license) and a spare key is a burglar’s dream. It compromises the safety of your home and family.

Safer Option: Leave your spare keys with a trusted friend or relative. Though a bit inconvenient, it’s much safer and saves you the hefty cost of locksmith services to replace your locks.

4. Checks

Blank checks are an obvious risk, but even used checks pose significant threats. With your bank routing and account numbers, thieves could set up fraudulent electronic transfers.

What You Can Do: Carry checks only on occasions when you need them. Avoid taking the checkbook; instead, bring the exact number of checks you anticipate using for the day.

5. Passport

Your passport can serve as a goldmine for ID thieves. It provides them with your photo, citizenship, date of birth, and more.

Travel Tip: Within the U.S., you only need your driver’s license or another personal ID. If traveling overseas, leave the original passport locked securely in a hotel safe and carry only a photocopy with you. For added security, use locks like the Milockie Hotel Safe Lock to increase protection.

6. Multiple Credit Cards

Carrying multiple credit cards increases the potential financial damage in case of theft. You’ll also face the hassle of canceling numerous accounts.

Expert Recommendation: Stick to one or two essential cards for everyday use. Additionally, maintain a separate list of credit card cancellation numbers (stored securely at home) to act swiftly if your wallet is lost.

7. Medicare Card

Previously, Medicare cards displayed Social Security Numbers, making them risky to carry. Newer cards use a unique identifier instead.

Solution: If you have the old card, photocopy it and black out the last four SSN digits. Leave your original card in a secure place but memorize the last four digits for medical appointments.

8. Multiple Gift Cards

Gift cards are like cash in a thief’s hands because they’re not tied to an individual. Once stolen, they can be used immediately.

Smart Strategy: Keep your gift cards at home and carry only the one corresponding to the retailer you plan to visit. This not only secures your funds but reduces wallet bulk.

Additional Safety Precautions

1. Photocopy Your Wallet’s Content: Make digital or paper copies of everything in your wallet. This speeds up the process of canceling cards or reporting stolen IDs.
2. Consider RFID-Blocking Protection: Credit card skimming is an increasing problem. RFID-blocking wallets and sleeves can provide an extra layer of security against electronic theft.
3. Review Regularly: Make it a habit to go through your wallet every month and remove anything unnecessary or that might present added risk.

Wrapping It Up

Your wallet and purse carry your life’s essentials, but they can also inadvertently carry risks. By removing these items, you significantly reduce the possibility of financial loss and identity theft.

Follow these tips to avoid predictable pitfalls and stay steps ahead of opportunistic thieves.