If it was more than my wallet, I would have done the report. My total cost to replace the wallet and everything in it was less than $100, it's hardly worth the effort.

Debit cards are evil. With them you are guilty until proven innocent, and nearly entirely based upon the mercy of the issuer.

When my bank changed from ATM card to debit cards, I insisted that they deactivate the debit function.

That is a great idea. I only use mine as an ATM card so I'll lose nothing by disabling the debit card function. Thanks.

Excellent advice! You have many more protections with a credit card. We use a credit card for all purchases, and pay the bill off in full when it comes in. In theory, with a debt card you only spend what you have in your account, but in practice, many many people overdraw and incur overdraft fees. Now, you have the option to opt out of the bank overdrawing your account, but that can leave you without the ability to use your card for anything---just like as if you were totally out of cash. Murphy's law says this will happen at the worst possible time.

The biggest criticism we hear about our use of the credit card is that it is too much of a temptation to "overspend" and "run up debt." The cure for this is self discipline and knowing what you have to spend, or, maybe, "financial situational awareness."

You'll need to check with your insurance agent/company to be sure, but, depending on the type of homeowners or renters policy you have, and the state you are in, you may have coverage for stolen cash in your wallet (in kentucky there is coverage up to the amount of $200, this is the minimum amount on any broad form contents coverage, such as a homeoners or renters policy, and some companies will bump it up to add increased value to the homeowner's policy).

Now, that said, most folks have a $500 deductible, and if it was not an undue financial burden do you really want to file a small claim like that and maybe have your rate go up at the renewal because of it? My parents got into trouble on their homeowners policy before because they filed several small claims they really shouldn't have, then when they really needed it on some larger claims they were nearly cancelled due to filing too many claims.

cash in my keychain capsule

What a hassle but you certainly were better prepared for it (copies of the cards, ID) than most people.

I keep $100 in small bills hidden in my car.


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I'd like to know exactly how Martin's wallet was stolen too.

I had a moment of panic 2 months ago when I left my wallet in the local supermarket. But fortunately they were honest, and they kept it for me the next day.

Martin's PRIMARY point is excellent ... a wallet is a "single point of failure". That's a great insight, and I will change that situation this week! Thanks Martin!!

Pete

"If it was more than my wallet, I would have done the report. My total cost to replace the wallet and everything in it was less than $100, it's hardly worth the effort."

You're LUCKY. Here in California you would need to stand in line at the DMV for 4 hours, just to replace your drivers license. It would probably take a month to replace ALL the stuff in my wallet.

The lost time and energy, and the increased STRESS, would be a major problem.

Pete

I shudder to think of what it would cost me in time to replace several concealed carry permits and my passport card. My driver's license would be the easiest one of the bunch.