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Don’t Put All Your Eggs In One Wallet

credit-cardsWith the nice weather comes increased travelling and more time to spend outdoors. With more time out, of course we need to carry a few things with us like cell phones, keys, money, identification and of course our wallets.

Unfortunately, with all the added outdoor activities, there is a greater chance you could lose your wallet.

We all know the feeling. You grab for your keys, your phone, your wallet….and over the course of a few seconds you think that the wallet is missing. Then you find it and breathe a sigh of relief.

Prepare Your Wallet For Incase You Lose It

We don’t plan to lose it, but sometimes it happens. What we can do is plan ahead, so if we do lose our wallet, it will have minimal damage.

Carry Only The Essentials  – Are you really planning to use three credit cards? How about only taking one? Also, many gift cards can be registered, so if lost, you can get a new one. Never carry your Social Insurance Number card with you. Keep it in a safe place with your other vital financial documents.

Copy Everything – Make a copy of the fronts and backs of everything. This way you’ll know exactly what to cancel if your wallet disappears. Of course, put the copies somewhere safe.

Keep A Backup Credit Card – New cards take time to ship. Keep a backup card in a safe place to use in the interim.

Don’t Put All Your Eggs In One Wallet – Keep large amounts of cash separate from your wallet. Only carry what you think you may need. Always carry some back-up cash separate from your wallet.

Babies! – Believe it or not, it’s proven that a baby picture in your wallet can trigger a response from people who may have “found” your wallet to return it to you.

What to Do If You Do Lose Your Wallet

Every day, people lose their wallets. They are always on the ten most lost items list, and it can happen to you. So when it does, here is what you need to do.

Be Calm and Methodical – Take a deep breath and try to stay calm. You will get through this.

The Better Way – If you’ve been on public transit, check with the TTC. According to their lost and found department, stolen and lost wallets are often turned in – usually a day after they’ve gone missing.

Don’t Rush to Cancel –  Block (temporary 5 day stop) or cancel (permanent stop with purpose to replace) your credit cards and bankcards by phone. The credit card company will let you know if anyone has used the cards. The phone numbers are online, on a bill or on the back of the card (that you copied). Remember to include loyalty points and service cards (CAA).

Start to Renew  – Wait a few days to make sure your wallet doesn’t turn up, and then start the process of getting new documents.

Go Shopping – There must be something good about all this inconvenience, so make sure you buy yourself a nice new wallet.