I would also recommend looking at Ranger Rick's site on his necklace. It shows how you can wind several types of wire/line/string around a dog tag. I do not own one of his products so I have not tried it. The idea makes sense and is low profile. I am carrying my fishing kit in a match box and have been considering using this method to spool the various wires around it and secure with dcut tape.
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Spemque metumque inter dubiis - Hover between hope and fear. (Vergil)