I carry a man bag just about whenever I have clothes on. A bug out backpack is not going to be always with me, no matter how light it is. My man bag is intentionally NOT complete because lightness is paramount.

Contents of my man bag, not in order of importance:
-cell phone
-knife (usually goes into pocket instead of man bag)
-small mirror (daytime visual signal)
-whistle (audio signal)
-flashlight (nighttime visual signal and many other uses)
-extra AA battery for flashlight
-money clip with card holder
-Bluetooth earpiece
-72" boot lace and/or other small rope
-medicine case
-pen
-piece of scratch paper

Optional items:
-another small self-defense tool
-water purification tablets
-lip balm
-multi-tool instead of knife