On Take it to the Bank
00:00:01.36\00:00:02.70
you'll find ways
to get out of debt.
00:00:02.73\00:00:05.43
Solve your credit card problems.
00:00:09.44\00:00:12.04
How to make and
stick with the budget?
00:00:14.51\00:00:16.81
Simple ways to save.
00:00:19.58\00:00:21.75
Buying or selling a home
and many more financial matters
00:00:24.69\00:00:29.32
on Take it to the Bank.
00:00:29.36\00:00:32.29
Hi, and welcome back
to Take it to the Bank.
00:00:32.33\00:00:35.13
You caught me
looking for my wallet
00:00:35.16\00:00:36.50
because this is what
this segment is all about.
00:00:36.53\00:00:39.63
What's in your wallet, or murse,
00:00:39.67\00:00:43.61
or purse or satchel or--?
00:00:43.64\00:00:46.27
Hey, there's so many
different words out there,
00:00:46.31\00:00:47.98
we can use for
things that we carry around,
00:00:48.01\00:00:49.98
but for this time
00:00:50.01\00:00:51.35
we'll just consider
the global term wallet.
00:00:51.38\00:00:55.22
Okay, I was just
looking at something,
00:00:55.25\00:00:56.58
I just realized that I
had taken the insurance card
00:00:56.62\00:00:59.45
for my son with me.
00:00:59.49\00:01:01.22
So, now if something
happens back at home,
00:01:01.26\00:01:04.43
my spouse won't have hers,
00:01:04.46\00:01:06.49
his card which is
kind of interesting
00:01:06.53\00:01:08.33
but we have copies of it made
so we've have duplicate copies,
00:01:08.36\00:01:12.53
so if there's a concern
00:01:12.57\00:01:13.90
she can actually
take it and run with it.
00:01:13.94\00:01:15.37
Which is some of the things
00:01:15.40\00:01:16.74
we'll actually talk about today,
00:01:16.77\00:01:18.11
because we've always thought
about the process of discussing
00:01:18.14\00:01:22.38
why do we have what
we have in our wallet.
00:01:22.41\00:01:24.91
But nobody's talked about
what are some of the items
00:01:24.95\00:01:27.32
you must have in your wallet,
00:01:27.35\00:01:28.85
and what are some of the
items that you should have
00:01:28.88\00:01:31.62
and you should avoid
having in the wallet.
00:01:31.65\00:01:33.05
Today, we'll talk about
00:01:33.09\00:01:34.42
what you should
have in your wallet.
00:01:34.46\00:01:35.79
But we're dealing with a
whole different environment
00:01:35.82\00:01:38.96
when we're talking about wallet.
00:01:38.99\00:01:40.66
I would suffice to say
00:01:40.70\00:01:42.26
that smartphones
are going to take over
00:01:42.30\00:01:44.37
what our wallet has been doing
over the past several decades
00:01:44.40\00:01:47.67
and years.
00:01:47.70\00:01:49.37
I'll give you a statistic.
00:01:49.40\00:01:51.84
Ten percent of all
photographs ever taken
00:01:51.87\00:01:57.68
were taken last year.
00:01:57.71\00:01:59.75
Can you catch that?
00:01:59.78\00:02:01.78
We've had cameras
for over two centuries.
00:02:01.82\00:02:05.35
But ten percent of
all pictures ever taken
00:02:05.39\00:02:09.62
were taken last year.
00:02:09.66\00:02:12.76
Isn't that interesting
00:02:12.79\00:02:14.13
because of technology
we now have the ability
00:02:14.16\00:02:15.83
to take pictures anywhere we go,
00:02:15.86\00:02:17.77
wherever we were at,
00:02:17.80\00:02:19.13
we have these smartphones
that have these ability,
00:02:19.17\00:02:21.70
these applications
that you can take pictures,
00:02:21.74\00:02:24.11
you can download
them, you can transfer them,
00:02:24.14\00:02:26.31
you can send them everywhere.
00:02:26.34\00:02:27.68
But what I always try to do
00:02:27.71\00:02:29.21
is get people to ask
the critical question.
00:02:29.24\00:02:32.65
How in the world do they know
00:02:32.68\00:02:35.38
how many
pictures have been taken?
00:02:35.42\00:02:37.69
Well, you know
in your smartphone
00:02:37.72\00:02:39.59
there is a location
thing in your smartphone.
00:02:39.62\00:02:42.52
So wherever you go
00:02:42.56\00:02:43.89
and wherever you take a picture,
00:02:43.93\00:02:45.69
they know where
that picture was taken.
00:02:45.73\00:02:47.93
And of course,
with certain smartphones
00:02:47.96\00:02:50.20
when you sync them
into your computer,
00:02:50.23\00:02:53.00
you find that you have
to store the information
00:02:53.03\00:02:58.31
which is a good thing
because when I lost my phone
00:02:58.34\00:03:01.31
when I jumped into
a pool last summer,
00:03:01.34\00:03:03.88
I lost the phone.
00:03:03.91\00:03:06.48
But I was able to buy a
new phone and plug it in
00:03:06.51\00:03:09.48
and download all the information
00:03:09.52\00:03:11.12
via my last sync.
00:03:11.15\00:03:12.49
So that information
that I have in my phone
00:03:12.52\00:03:16.52
is stored somewhere.
00:03:16.56\00:03:19.29
And then question I
asked to you as a person
00:03:19.33\00:03:22.56
that dwells in inner city.
00:03:22.60\00:03:24.13
How many times has
your photo been taken,
00:03:24.17\00:03:25.63
you don't even know it.
00:03:25.67\00:03:27.00
How much of your information
is out there, out there,
00:03:27.04\00:03:30.54
just transferred
all over the place
00:03:30.57\00:03:32.04
without your knowledge of it,
00:03:32.07\00:03:33.51
and the fact is
when you take a picture,
00:03:33.54\00:03:35.68
the picture is not just yours
00:03:35.71\00:03:37.05
because it's based
on what you're using
00:03:37.08\00:03:40.08
they may
storage that information
00:03:40.12\00:03:41.82
and use it to track.
00:03:41.85\00:03:43.25
Therefore, they
have a very good idea
00:03:43.28\00:03:47.29
of how many pictures are
being taken on an ongoing basis
00:03:47.32\00:03:51.16
and stored in comparison
what was taken over history.
00:03:51.19\00:03:55.13
So that number
is dramatic to me,
00:03:55.16\00:03:57.67
that 10 percent of
all pictures ever taken
00:03:57.70\00:04:01.60
were taken just last year.
00:04:01.64\00:04:03.71
And the other statistic is
90 percent of the information
00:04:03.74\00:04:09.54
that we've gained was
gained just last year.
00:04:09.58\00:04:14.42
We are dealing with
an information glut,
00:04:14.45\00:04:19.02
where we are
finding so much things to do
00:04:19.05\00:04:22.96
with the
information that we have.
00:04:22.99\00:04:24.59
Did you know,
00:04:24.63\00:04:28.66
that your credit card
company is using information
00:04:28.70\00:04:30.67
that they track on
your spending patterns.
00:04:30.70\00:04:33.80
So now we can
predict your behaviour
00:04:33.84\00:04:35.80
based on the fact that
if you are an individual
00:04:35.84\00:04:38.51
that has purchased
00:04:38.54\00:04:39.87
a couple of just recently
purchased gym memberships,
00:04:39.91\00:04:43.14
and you have
purchased flowers recently,
00:04:43.18\00:04:46.31
and you've purchased hotel stays
00:04:46.35\00:04:48.32
in the same city that you live.
00:04:48.35\00:04:51.25
The credit card
company can predict
00:04:51.29\00:04:52.62
that this guy is
headed for divorce.
00:04:52.65\00:04:54.66
Why? The patterns.
00:04:54.69\00:04:56.79
Why do you need a hotel room
in the same city that you live?
00:04:56.83\00:04:59.89
Why do you need flowers?
00:04:59.93\00:05:02.60
Why did you just purchase
that new gym membership?
00:05:02.63\00:05:06.17
Their profiles that are
out there about everyone,
00:05:06.20\00:05:08.30
and we're dealing
with what's in your wallet.
00:05:08.34\00:05:10.14
We have to also talk about
00:05:10.17\00:05:12.24
what's happening with technology
00:05:12.27\00:05:14.41
because that
wallet that you have
00:05:14.44\00:05:16.54
typically carries your
coupons and some of the things
00:05:16.58\00:05:20.05
that you like to walk around
with such as your gift cards,
00:05:20.08\00:05:25.02
and then of
course, your identity
00:05:25.05\00:05:26.89
and all of those other features.
00:05:26.92\00:05:29.39
But all of that
is gradually merging
00:05:29.42\00:05:32.29
right into your smartphone,
because your smartphone now
00:05:32.33\00:05:35.56
has all of your
contact information,
00:05:35.60\00:05:37.80
has all of your pictures,
00:05:37.83\00:05:39.17
remember the time
when we had wallets
00:05:39.20\00:05:40.57
and we had all the pictures
that just flowed right out.
00:05:40.60\00:05:43.71
And you can show everyone
00:05:43.74\00:05:45.21
the history of
your, of your family
00:05:45.24\00:05:47.04
and the pictures that
you, you love so well.
00:05:47.08\00:05:49.91
But now, you have all of that,
00:05:49.94\00:05:51.78
I have the history
of my young children
00:05:51.81\00:05:55.58
in my smartphone.
00:05:55.62\00:05:56.95
I can see the day they were born
00:05:56.99\00:05:58.72
all the way up to yesterday,
00:05:58.75\00:06:00.12
because that is
something I can capture
00:06:00.16\00:06:03.59
and take with me,
and show whoever I want.
00:06:03.63\00:06:06.26
So now, it's a
simpler methodology.
00:06:06.29\00:06:08.80
But how about things
such as your driver's license
00:06:08.83\00:06:11.43
and such things
as your credit cards
00:06:11.47\00:06:13.64
and, and all of
that information.
00:06:13.67\00:06:15.20
I will tell you right now,
00:06:15.24\00:06:17.11
that that information
00:06:17.14\00:06:19.77
is slowly being merged
into your smartphone device,
00:06:19.81\00:06:23.48
so you would be able
to take your smartphone
00:06:23.51\00:06:26.65
and go to a store and purchase
what you need to purchase
00:06:26.68\00:06:28.75
by swiping it,
00:06:28.78\00:06:30.22
that your identity and
identification features
00:06:30.25\00:06:33.19
such as your driver's
license can also be installed.
00:06:33.22\00:06:35.92
I can now go through an app.
00:06:35.96\00:06:39.79
I can, the app
is called 'passbook'
00:06:39.83\00:06:42.23
if you think about it,
00:06:42.26\00:06:43.60
you can go and buy the
app if you have a smartphone.
00:06:43.63\00:06:46.10
That will categorize and store
and file all of your coupons,
00:06:46.13\00:06:51.37
then all of your tickets,
00:06:51.41\00:06:53.81
and many different
things that you have
00:06:53.84\00:06:56.75
that you need to store.
00:06:56.78\00:06:58.11
Your gift cards for example,
00:06:58.15\00:06:59.48
so you would have it
right in your smartphone,
00:06:59.51\00:07:01.08
and it can be
scanned at whatever retail
00:07:01.12\00:07:03.75
or service
provider that you need.
00:07:03.79\00:07:05.85
Additionally, I can
have my plane tickets
00:07:05.89\00:07:09.42
in my smartphone so I don't
have to carry any paper out,
00:07:09.46\00:07:12.96
and as I get to the
gate to get on my plane,
00:07:12.99\00:07:15.86
they can just scan
what I have in my smartphone
00:07:15.90\00:07:19.43
and it registers
you as the individual
00:07:19.47\00:07:22.00
and you can get on
your flight and go.
00:07:22.04\00:07:23.67
So these
smartphones are gradually
00:07:23.71\00:07:26.61
taking over the
capacity of what our wallet
00:07:26.64\00:07:29.54
has always been
for us over the past.
00:07:29.58\00:07:32.01
So it can also categorize
your coupons, your receipts,
00:07:32.05\00:07:37.92
all of those type of things
00:07:37.95\00:07:39.32
are a part of the
wallet that you have.
00:07:39.35\00:07:41.52
So again, we go back to
the critical question of you
00:07:41.56\00:07:44.33
as an individual that's
dealing with urban market.
00:07:44.36\00:07:48.00
Now we've talked to you
00:07:48.03\00:07:49.36
specifically about
some of the simple things
00:07:49.40\00:07:52.07
about your privacy and
about your personal data,
00:07:52.10\00:07:54.64
your personal information,
00:07:54.67\00:07:56.04
and how you can
protect that information.
00:07:56.07\00:07:58.04
Because all you know is--
00:07:58.07\00:08:00.64
and you can probably
identify is what it feels like
00:08:00.68\00:08:04.68
when you lose a dollar
00:08:04.71\00:08:06.25
or what it feels like
when you lose 50 dollars.
00:08:06.28\00:08:08.32
What it feels like when
you lose your smartphone
00:08:08.35\00:08:10.42
or what it feels like
when you lose your wallet.
00:08:10.45\00:08:13.69
All of that information
is out there on you now,
00:08:13.72\00:08:17.09
and what is a critical element
00:08:17.13\00:08:18.79
that you should think about now,
00:08:18.83\00:08:20.33
as you walk around
00:08:20.36\00:08:21.73
with this pocket
book in your back pocket
00:08:21.76\00:08:24.40
or this thing that
you hold in your hand
00:08:24.43\00:08:26.63
or whatever the case may be.
00:08:26.67\00:08:28.50
It's critical that you know this
00:08:28.54\00:08:30.37
because, if I asked you,
00:08:30.41\00:08:33.61
"Is it essential to carry
a extra key in your wallet?
00:08:33.64\00:08:39.15
What would your answer be?
00:08:39.18\00:08:40.88
What are the top ten items
00:08:40.92\00:08:43.05
that you should carry
in your wallet and why?
00:08:43.08\00:08:46.19
We asked a few young
people that same question.
00:08:46.22\00:08:49.22
And here are some
of their responses.
00:08:49.26\00:08:54.20
I would say cash, for sure cash.
00:08:54.23\00:08:57.57
There's many
reasons, just telling some,
00:08:57.60\00:09:00.34
you might need to help somebody,
00:09:00.37\00:09:02.07
somebody might be needing it
00:09:02.10\00:09:03.44
or you might need
something on the spot.
00:09:03.47\00:09:06.14
Some sort of
emergency and you may,
00:09:06.17\00:09:08.21
there may not be a way
to, you know, to use a card,
00:09:08.24\00:09:10.25
that's just some of them,
I would say cash and also--
00:09:10.28\00:09:14.12
six right?
00:09:14.15\00:09:15.48
Yeah, your identification
just in case something,
00:09:18.35\00:09:20.86
in case something happens.
00:09:20.89\00:09:22.92
So they can be
able to identify you,
00:09:22.96\00:09:24.46
and you don't have
to go to the problems
00:09:24.49\00:09:26.39
of you know going missing
00:09:26.43\00:09:28.23
or causing
strains to other people.
00:09:28.26\00:09:31.23
Couple of things I'd carry is,
00:09:31.27\00:09:33.47
I don't want to carry so
much credit card or debit card
00:09:33.50\00:09:37.01
because, then I
got to do a swipe
00:09:37.04\00:09:39.44
so I'd carry about
$100 of cash, and that's it.
00:09:39.47\00:09:45.25
And military ID, then you got
to carry your driver's licence
00:09:45.28\00:09:51.05
because you're
driving and that's all I need.
00:09:51.09\00:09:56.36
You should carry your licence,
00:09:56.39\00:09:58.83
a little bit of
money, your credit card,
00:09:58.86\00:10:02.53
I mean, one credit
card if you really need it,
00:10:02.56\00:10:05.53
if you don't, don't take it.
00:10:05.57\00:10:09.70
And a little bit of
cash if you needed it.
00:10:09.74\00:10:15.18
Carry your ID,
your telephone ID,
00:10:15.21\00:10:17.41
or driver's licence anything
to identify who you are,
00:10:17.45\00:10:20.22
also at least something
00:10:20.25\00:10:23.45
not either a card or credit card
00:10:23.49\00:10:26.15
not a credit card but
a debit card or some cash
00:10:26.19\00:10:28.49
to have to help
you wherever you're at,
00:10:28.52\00:10:31.59
and also one more thing
00:10:31.63\00:10:33.03
is something that has
like about information
00:10:33.06\00:10:36.16
just like some important things
00:10:36.20\00:10:37.57
that give you
legit to certain things
00:10:37.60\00:10:38.93
like if something
were to happen to you,
00:10:38.97\00:10:40.30
people were able to help you
and that's basically I think.
00:10:40.34\00:10:45.34
Essential things that you
should carry in your wallet,
00:10:45.37\00:10:47.68
I believe are your
ID, contact information.
00:10:47.71\00:10:52.41
Any allergies you
might be allergic to.
00:10:52.45\00:10:56.55
It's my belief it's
important for people
00:10:56.58\00:10:58.85
to know what allergies you have
just in case of an accident.
00:10:58.89\00:11:03.63
You don't want to
get the medication
00:11:03.66\00:11:05.43
that you may be allergic to,
00:11:05.46\00:11:07.16
will make the
things, anything worse.
00:11:07.20\00:11:12.73
Another thing would
probably be about $30 in cash,
00:11:12.77\00:11:17.14
emergency credit card,
00:11:17.17\00:11:19.21
and anything
that will identify you
00:11:19.24\00:11:22.68
in case of any emergencies.
00:11:22.71\00:11:25.78
Like to include
obviously, my driver's license,
00:11:25.81\00:11:29.62
my medical card, my bank
card, and emergency credit card,
00:11:29.65\00:11:35.69
and I also like to
insert a little paper
00:11:35.72\00:11:38.19
that just as in
case of an emergency call
00:11:38.23\00:11:40.40
and I put my
dad's name and number.
00:11:40.43\00:11:45.27
I really like working
with these young people,
00:11:45.30\00:11:47.34
they have a real
sense of understanding
00:11:47.37\00:11:50.81
of the important items
that you need to carry with you
00:11:50.84\00:11:54.44
on an ongoing basis.
00:11:54.48\00:11:56.81
And their responses
are really, really good.
00:11:56.85\00:12:00.02
But then it
comes down to a sense
00:12:00.05\00:12:02.08
of how comfortable
are you losing a $100.
00:12:02.12\00:12:06.05
How comfortable
are you losing $50?
00:12:06.09\00:12:08.29
What's a
comfortable amount of cash
00:12:08.32\00:12:10.36
that you think
would be appropriate
00:12:10.39\00:12:13.96
to have in your
wallet at all times?
00:12:14.00\00:12:17.53
We're going to talk
about those types of issues,
00:12:17.57\00:12:19.13
but we're also going to
think about you as an individual
00:12:19.17\00:12:22.14
wherever you're at.
00:12:22.17\00:12:23.51
Many of us consider
the fact that all of us,
00:12:23.54\00:12:27.98
we assume that all of
us are in the same boat
00:12:28.01\00:12:29.84
and we're not.
00:12:29.88\00:12:31.21
Many of us are dealing
with challenges in our lives.
00:12:31.25\00:12:33.52
Some of us aren't dealing with
some of the same challenges.
00:12:33.55\00:12:35.95
Some are dealing
with financial issues,
00:12:35.98\00:12:37.59
some are dealing with
more relationship issues.
00:12:37.62\00:12:39.62
But in this situation, we're
talking about the finances.
00:12:39.65\00:12:42.32
And we realize
00:12:42.36\00:12:43.69
that there is a whole host
thousands of urban dwellers
00:12:43.73\00:12:46.56
that are ready
and willing to work
00:12:46.59\00:12:48.93
and of course,
based on circumstances,
00:12:48.96\00:12:51.27
they have difficulties
crossing those barriers
00:12:51.30\00:12:54.14
into long term employment.
00:12:54.17\00:12:55.50
And many of those things
is what we're trying to study
00:12:55.54\00:12:58.51
and discuss with them.
00:12:58.54\00:12:59.87
But one of the things,
00:12:59.91\00:13:01.24
since we're talking about
the wallet specifically here,
00:13:01.28\00:13:03.41
one of things we talked about
00:13:03.45\00:13:04.78
and we study was the
fact that many individuals
00:13:04.81\00:13:07.38
are dealing with the
issue of self-sufficiency.
00:13:07.42\00:13:12.25
What do I mean
by self-sufficiency?
00:13:12.29\00:13:13.62
It's a big term that
they use out there in media
00:13:13.66\00:13:16.62
but, it all has to
do with how able are you
00:13:16.66\00:13:20.33
to take care of your family.
00:13:20.36\00:13:22.13
How able are you
to find the money
00:13:22.16\00:13:25.13
to pay the mortgage, get
the groceries, pay the gas,
00:13:25.17\00:13:27.87
and all the other elements
of supporting your family.
00:13:27.90\00:13:30.17
And when you think
about those specific things,
00:13:30.21\00:13:32.27
you begin to understand
00:13:32.31\00:13:33.64
that we're dealing with a
crisis in the United States.
00:13:33.68\00:13:36.51
Primarily because, minimum wage
00:13:36.54\00:13:39.51
is what we all have to deal with
00:13:39.55\00:13:41.98
and minimum
wage in and of itself
00:13:42.02\00:13:44.45
means that you're
in poverty, right,
00:13:44.49\00:13:45.82
because one working
adult in a family of three
00:13:45.85\00:13:50.43
for example, means
that you're bringing home
00:13:50.46\00:13:53.23
approximately $18,000
a year at minimum wage.
00:13:53.26\00:13:56.36
Why?
00:13:56.40\00:13:57.73
Because, we can't afford
specific things like day care,
00:13:57.77\00:14:00.77
so one of the parents
will have to stay home
00:14:00.80\00:14:03.81
with the children
to take care of them.
00:14:03.84\00:14:06.57
It's a big, big issue.
00:14:06.61\00:14:08.41
So as we look at tax credits
and look at other elements
00:14:08.44\00:14:11.85
to help support
you as an individual
00:14:11.88\00:14:14.22
means that we talk
to your specific need.
00:14:14.25\00:14:17.85
In fact, when you
look at where you live,
00:14:17.89\00:14:20.99
if you live in Los Angeles,
00:14:21.02\00:14:23.56
or you live in
Riverside self-sufficiency
00:14:23.59\00:14:27.53
or the cost to
support your family
00:14:27.56\00:14:30.57
is more like between
52 and $55,000 a year.
00:14:30.60\00:14:35.00
That's a lot of money
00:14:35.04\00:14:36.37
when you're looking
at a family of four,
00:14:36.40\00:14:38.77
and one going to
school, one needing day care
00:14:38.81\00:14:41.28
and two families that
are two parents or adults
00:14:41.31\00:14:44.61
that are working full time.
00:14:44.65\00:14:46.61
Now, I look at
that from the standpoint
00:14:46.65\00:14:48.45
of how do we assess
your specific needs.
00:14:48.48\00:14:51.55
What are your concerns?
00:14:51.59\00:14:53.22
And how do you
develop tangible understanding
00:14:53.25\00:14:57.96
of what you
should do to get a job.
00:14:57.99\00:15:00.56
What you should
do as you go around?
00:15:00.60\00:15:02.86
How you should
manage your funds?
00:15:02.90\00:15:05.13
How you should manage the
information that you have?
00:15:05.17\00:15:08.10
The critical
information that you have
00:15:08.14\00:15:11.91
and that's about you
00:15:11.94\00:15:13.27
and that's about your
family has to be protected
00:15:13.31\00:15:15.21
in a specific type of way.
00:15:15.24\00:15:16.81
And many times that we don't
think of as an important issue
00:15:16.85\00:15:21.48
because we're trying to
fight through the issues
00:15:21.52\00:15:24.35
of finding that next good job
00:15:24.39\00:15:26.89
or finding
enough revenue or money
00:15:26.92\00:15:31.36
or work that can
support our families
00:15:31.39\00:15:34.73
and those that we
care so much about.
00:15:34.76\00:15:37.77
But I tend to think
00:15:37.80\00:15:39.13
that this is one of the more
important areas of your life.
00:15:39.17\00:15:42.70
Once you have
decided what your budget is,
00:15:42.74\00:15:46.31
and what you have,
00:15:46.34\00:15:47.68
I would suffice to say
that you have a debit card.
00:15:47.71\00:15:50.71
You probably have
some kind of bank card,
00:15:50.75\00:15:52.75
you have your
driver's license to get around
00:15:52.78\00:15:54.85
or an ID to get
on the bus lines.
00:15:54.88\00:15:57.42
You have a variety
of different things
00:15:57.45\00:15:59.69
which are no
different than anyone else.
00:15:59.72\00:16:03.36
And so, now as we think about
what you have in your wallet.
00:16:03.39\00:16:07.26
Let's talk about
those specific items
00:16:07.30\00:16:09.80
that are important to
have, and why that is.
00:16:09.83\00:16:13.44
What is the first thing
00:16:13.47\00:16:14.84
we typically
carry in our wallet?
00:16:14.87\00:16:18.41
The first thing you
should probably have
00:16:18.44\00:16:19.77
and I would recommend
00:16:19.81\00:16:21.14
is emergency contact
information in your wallet.
00:16:21.18\00:16:24.31
So if your wallet goes lost,
00:16:24.35\00:16:25.88
someone knows
where to give it back.
00:16:25.91\00:16:28.58
Typically, if
you lose your wallet,
00:16:28.62\00:16:30.02
it's going to be
returned without the cash in it
00:16:30.05\00:16:32.39
probably unless you
get a good Samaritan
00:16:32.42\00:16:34.76
who wants to
give it back to you.
00:16:34.79\00:16:36.73
But don't really count on
having that money in there
00:16:36.76\00:16:40.56
when it's returned.
00:16:40.60\00:16:41.93
Why?
00:16:41.96\00:16:43.30
And that's what I said earlier
00:16:43.33\00:16:44.67
is what amount of money
are you comfortable losing,
00:16:44.70\00:16:50.01
because that's
really gonna be the key.
00:16:50.04\00:16:51.94
You don't want to
carry a lot of money
00:16:51.97\00:16:53.91
but money is still important
to have in your wallet.
00:16:53.94\00:16:56.61
And so, if you have
your wallet and it is lost,
00:16:56.64\00:16:59.48
you want to make sure
those individuals have a place
00:16:59.51\00:17:01.85
that they can contact or
someone they can send it to
00:17:01.88\00:17:04.95
or where they can return
that piece of information,
00:17:04.99\00:17:08.32
so emergency contacts
is a critical area for you
00:17:08.36\00:17:12.76
to keep in mind as
a part of your wallet,
00:17:12.79\00:17:16.36
something that you
keep in your wallet.
00:17:16.40\00:17:17.73
Number two,
health insurance card,
00:17:17.77\00:17:19.97
if something
negative happens in your life
00:17:20.00\00:17:22.30
and you get into a car accident.
00:17:22.34\00:17:23.84
It's essential that as you
take into the emergency room
00:17:23.87\00:17:26.57
that they know that they
can give you medical attention.
00:17:26.61\00:17:31.18
You have that
card that's available
00:17:31.21\00:17:33.48
that gives them the
information they need,
00:17:33.52\00:17:35.25
who to contact, what
to do and where to go.
00:17:35.28\00:17:38.15
The other issue
about an accident
00:17:38.19\00:17:40.69
or emergency type of situation
00:17:40.72\00:17:44.19
is the health
card is of benefit,
00:17:44.23\00:17:46.59
but also it's information
about you and your health.
00:17:46.63\00:17:51.13
Are you a diabetic?
00:17:51.17\00:17:52.50
Are there specific
things that you're allergic to?
00:17:52.53\00:17:54.97
Many of those
items are essential
00:17:55.00\00:17:57.41
to have as a
part of your wallet,
00:17:57.44\00:18:01.18
so that you can
be safer than most
00:18:01.21\00:18:06.48
knowing that the doctor
may not give you something
00:18:06.51\00:18:08.38
that may actually
hurt you or kill you.
00:18:08.42\00:18:10.15
But they'll
probably do the tests
00:18:10.19\00:18:12.49
that are necessary.
00:18:12.52\00:18:13.86
So we've talked
about those two items
00:18:13.89\00:18:15.36
first of all,
emergency contact list.
00:18:15.39\00:18:18.13
The emergency contact list
00:18:18.16\00:18:19.59
would probably have
information about you,
00:18:19.63\00:18:22.33
things that you
might be allergic to
00:18:22.36\00:18:23.90
medical
information so they would know,
00:18:23.93\00:18:25.70
and then of
course, an insurance card.
00:18:25.73\00:18:27.87
But number three, what
other item is important
00:18:27.90\00:18:30.67
to have as a
part of your wallet.
00:18:30.71\00:18:33.17
I would say a AAA card,
00:18:33.21\00:18:36.38
your insurance
information on your card,
00:18:36.41\00:18:38.65
your registration,
that type of information.
00:18:38.68\00:18:41.45
Now, many people have told me,
00:18:41.48\00:18:44.09
why would you carry a
registration in your wallet?
00:18:44.12\00:18:46.59
Why don't you just
leave it in your car?
00:18:46.62\00:18:48.16
Well, that's also
something you can do,
00:18:48.19\00:18:50.26
because now what
we're thinking about is,
00:18:50.29\00:18:52.99
items that are essential
but we want to make sure
00:18:53.03\00:18:56.26
that we're still safe
when we, if we lose our card.
00:18:56.30\00:19:01.00
Now, the thing with a smartphone
00:19:01.04\00:19:02.97
that's really interesting
is I always have a pass code
00:19:03.00\00:19:06.17
or something on my
phone so it's locked.
00:19:06.21\00:19:08.54
So nobody can actually
easily get into the phone.
00:19:08.58\00:19:13.01
But your wallet is not the same,
00:19:13.05\00:19:14.52
your wallet's drop,
your wallet's really open,
00:19:14.55\00:19:16.58
it has access to your cards,
00:19:16.62\00:19:17.95
it has access to
whatever is in your wallet.
00:19:17.99\00:19:20.22
So you have to take
care of what's there.
00:19:20.26\00:19:23.22
And we now know I just saw
when I ran a report on people,
00:19:23.26\00:19:29.83
what people
carry in their wallets.
00:19:29.86\00:19:31.50
It was kind of interesting
00:19:31.53\00:19:32.87
because some of the people
make comments on of the story.
00:19:32.90\00:19:35.27
And one of these
individuals made a comment
00:19:35.30\00:19:37.11
about what they
carry in their wallet
00:19:37.14\00:19:39.07
and, and they
said that realistically
00:19:39.11\00:19:43.11
you have to be so careful
00:19:43.14\00:19:44.48
because people are
using technology now
00:19:44.51\00:19:47.68
to actually scan and
read what's in your wallet
00:19:47.72\00:19:50.69
while it's in your back pocket.
00:19:50.72\00:19:52.42
So now you don't
have to worry about,
00:19:52.45\00:19:53.79
only worry about
pickpockets and thieves,
00:19:53.82\00:19:57.09
but you're worrying
about technology thieves
00:19:57.13\00:19:59.29
who are waving these
wands behind your pocket
00:19:59.33\00:20:02.36
or by your
purse, which is scanning
00:20:02.40\00:20:05.23
and reading all
of your information.
00:20:05.27\00:20:07.44
Now there's a lot of
fear factor in there,
00:20:07.47\00:20:09.24
because I don't
think people talk enough
00:20:09.27\00:20:11.54
about this specific
concern as much as they should.
00:20:11.57\00:20:14.78
But I will tell you
00:20:14.81\00:20:16.28
that if someone is
standing around you
00:20:16.31\00:20:18.91
for an extended amount of time,
00:20:18.95\00:20:20.88
and they have
something in their hand
00:20:20.92\00:20:22.52
that they seem to be
using or some type of purpose,
00:20:22.55\00:20:26.19
walk away from them
00:20:26.22\00:20:27.56
because these devices are
not yet sophisticated enough
00:20:27.59\00:20:31.89
to read what's in
your wallet very quickly.
00:20:31.93\00:20:36.40
So it takes time.
00:20:36.43\00:20:37.83
So if someone is standing
there holding something,
00:20:37.87\00:20:40.70
be smart about
your surroundings,
00:20:40.74\00:20:42.60
walk away and or keep moving.
00:20:42.64\00:20:46.27
There are other
things that we can talk about
00:20:46.31\00:20:48.11
in reference to
safekeeping in your wallet,
00:20:48.14\00:20:50.08
and we'll talk
about in a few minutes.
00:20:50.11\00:20:51.91
But it's key to know
00:20:51.95\00:20:54.02
that there are
technologies out there
00:20:54.05\00:20:55.38
that people are using
for the wrong purposes.
00:20:55.42\00:20:58.45
If you are in an urban area,
there are some kind of wallets
00:20:58.49\00:21:04.16
that have a
protective coating around it
00:21:04.19\00:21:06.19
that prevent things
from being read through them.
00:21:06.23\00:21:09.83
So you can do
some research online
00:21:09.86\00:21:12.03
and you can find out
some of that of information
00:21:12.07\00:21:14.24
that can help
protect you if need be.
00:21:14.27\00:21:18.17
So we went, gone through a
list of emergency contacts.
00:21:18.21\00:21:21.48
We've gone through
health insurance information,
00:21:21.51\00:21:23.24
important medical information,
00:21:23.28\00:21:25.18
we've talked about AAA
card or insurance information
00:21:25.21\00:21:28.38
that you should
pretty much have with you,
00:21:28.42\00:21:30.79
towing that kind of thing
00:21:30.82\00:21:32.29
if you have a problem or
a flat tire with your car.
00:21:32.32\00:21:35.39
But then we have number five.
00:21:35.42\00:21:37.23
I don't know
00:21:37.26\00:21:38.59
if this is something you
would have in a man's wallet,
00:21:38.63\00:21:41.80
but I would
suspect it's something
00:21:41.83\00:21:43.16
that a woman can
have in their purse
00:21:43.20\00:21:45.23
or if a man carries
a murse or a satchel,
00:21:45.27\00:21:48.17
he can have it in there too.
00:21:48.20\00:21:49.57
But this was interesting
00:21:49.60\00:21:50.94
a small notepad
and a ballpoint pen.
00:21:50.97\00:21:54.21
Well, I'm not quite certain
if it's going to fit in this.
00:21:54.24\00:21:59.85
And I don't know if
it's necessary to do,
00:21:59.88\00:22:01.82
but guess what I do have,
00:22:01.85\00:22:03.18
I have a small this smartphone
where I take my notes.
00:22:03.22\00:22:06.96
I take notes, I
write things down,
00:22:06.99\00:22:09.02
I e-mail it to myself,
00:22:09.06\00:22:11.23
that's how useful these things
are from mine's perspective
00:22:11.26\00:22:15.10
because, now I don't have
to carry the ballpoint pen
00:22:15.13\00:22:17.43
and the notes, the information,
00:22:17.47\00:22:20.17
all of that kind
of stuff is here.
00:22:20.20\00:22:21.90
It's categorized,
it's neat. I can read it.
00:22:21.94\00:22:24.67
Those types of
things are very important
00:22:24.71\00:22:27.14
as you're looking at
what you keep in a wallet.
00:22:27.18\00:22:31.38
Now, some people have
told me that it would be great
00:22:31.41\00:22:34.68
to carry a business
card in your, in your wallet
00:22:34.72\00:22:38.72
and I would
throw that out to you.
00:22:38.75\00:22:40.66
One of the things
I'm worried about.
00:22:40.69\00:22:42.69
And I worry about all the
time is if I lose my wallet,
00:22:42.72\00:22:46.80
not only do they have
my personal information,
00:22:46.83\00:22:49.33
not only they'll
have my driver's license
00:22:49.36\00:22:51.53
which typically
has my home address,
00:22:51.57\00:22:53.67
but now they can set
up a profile of who I am
00:22:53.70\00:22:56.67
if it falls
into the wrong hands.
00:22:56.71\00:22:58.57
Which now they know
not only where I live,
00:22:58.61\00:23:01.14
they have my credit card,
my debit card information,
00:23:01.18\00:23:03.41
they have my
personal information,
00:23:03.45\00:23:05.05
they have my health information
00:23:05.08\00:23:08.22
so they can create a whole
different identity of who I am
00:23:08.25\00:23:12.82
because of what they have,
00:23:12.85\00:23:14.19
and now I have a
business card in there
00:23:14.22\00:23:16.56
that tells them
not only where I live,
00:23:16.59\00:23:18.56
but where I work.
00:23:18.59\00:23:20.36
I would tend to think
00:23:20.40\00:23:21.76
that a business card can be
held in a different container
00:23:21.80\00:23:24.93
or used differently
00:23:24.97\00:23:26.53
or you can even have
your contact information
00:23:26.57\00:23:29.44
they can send out
of your smartphone.
00:23:29.47\00:23:31.67
But I would tend
to think in a wallet
00:23:31.71\00:23:34.28
you don't necessarily.
00:23:34.31\00:23:35.64
Less I guess is more
because you don't have to have
00:23:35.68\00:23:38.88
all of that critical information
00:23:38.91\00:23:40.65
that can lead people to
create a whole new profile
00:23:40.68\00:23:43.59
of who you are and that
creates a devastating situation
00:23:43.62\00:23:47.56
where you have to unravel
this nightmare of identity theft
00:23:47.59\00:23:53.40
which are
critical issues nowadays.
00:23:53.43\00:23:55.56
So we've gone through the
notepad and ballpoint pen.
00:23:55.60\00:24:00.34
How about high value coupons?
00:24:00.37\00:24:03.57
People carry those
with them, we go shopping,
00:24:03.61\00:24:05.77
we keep them with us to, to get
discounts on different things.
00:24:05.81\00:24:09.98
What I choose to do is
I have the pass book app
00:24:10.01\00:24:13.58
which gives me an opportunity
to categorize my gift cards,
00:24:13.62\00:24:17.69
categorize my coupons,
00:24:17.72\00:24:19.22
categorize all of
those type of my receipts,
00:24:19.25\00:24:22.12
my tickets, my
airport and airline things
00:24:22.16\00:24:24.79
that are of
vital importance to me.
00:24:24.83\00:24:26.93
So I don't
necessarily have to carry around
00:24:26.96\00:24:29.13
all that paperwork.
00:24:29.16\00:24:30.87
And I don't yet have
the receiving capabilities
00:24:30.90\00:24:33.34
so I can scan in a receipt
00:24:33.37\00:24:35.90
and put it and log it
into, into my smartphone.
00:24:35.94\00:24:39.47
I carry the
receipts temporarily,
00:24:39.51\00:24:42.04
and when I get
home, I take them out
00:24:42.08\00:24:44.18
and categorize
them and file them.
00:24:44.21\00:24:46.75
Why not receipts?
00:24:46.78\00:24:49.42
You know people
can begin to process
00:24:49.45\00:24:52.09
and develop profiles of you
00:24:52.12\00:24:53.56
from the receipts that you have.
00:24:53.59\00:24:54.92
There's a lot of information
00:24:54.96\00:24:56.42
that comes on
specific type of receipts,
00:24:56.46\00:24:58.79
dependent on how
you pay for something
00:24:58.83\00:25:00.86
at a retailer
or a grocery store.
00:25:00.90\00:25:03.43
If you do it may be minimal
00:25:03.47\00:25:05.30
or it may be a
lot of information
00:25:05.33\00:25:06.84
if you paid by
credit card or via cash.
00:25:06.87\00:25:09.34
I technically think
that it would be beneficial
00:25:09.37\00:25:13.07
to temporarily have
them as you get them home,
00:25:13.11\00:25:15.88
but take them out
00:25:15.91\00:25:17.25
and keep your wallet
empty of any type of information
00:25:17.28\00:25:19.98
that can used to
develop profiles on who you are.
00:25:20.02\00:25:25.25
Number seven is a club card.
00:25:25.29\00:25:28.92
You can carry a
club card if you like to
00:25:28.96\00:25:31.63
or you can have those put
into like an app type of setting
00:25:31.66\00:25:35.80
if you need to from a
categorical standpoint.
00:25:35.83\00:25:38.93
Number eight, enough
cash for emergency purposes
00:25:38.97\00:25:42.80
or to split the meal if
you have lunch with somebody.
00:25:42.84\00:25:47.51
What is enough cash?
00:25:47.54\00:25:49.64
The gentleman
online on our interview
00:25:49.68\00:25:51.98
said how about a $100.
00:25:52.01\00:25:53.58
Some of them said $50.
00:25:53.62\00:25:55.58
I typically think
between 25 and $50.
00:25:55.62\00:25:58.29
Why that number?
00:25:58.32\00:26:00.32
Well, my number has actually
gone up over the years why?
00:26:00.36\00:26:03.46
Because, gas to fill
up my gas tank is $50 now.
00:26:03.49\00:26:10.47
So $50 if I run into a
problem or a situation,
00:26:10.50\00:26:14.20
I now have the amount of money
00:26:14.24\00:26:15.84
that I can use to
put the gas in my car.
00:26:15.87\00:26:18.97
It also is the right amount
that if you split a lunch bill,
00:26:19.01\00:26:23.21
you have enough to do
that, and lunches typically run
00:26:23.24\00:26:25.71
if you have a group of
people between 15, 20, $25
00:26:25.75\00:26:29.95
so I typically say,
00:26:29.98\00:26:31.52
comfortable
amount of cash to have
00:26:31.55\00:26:33.25
about 25 to $50 in your wallet.
00:26:33.29\00:26:37.63
And the other item that I
would say has been mentioned
00:26:37.66\00:26:41.50
and, and, and talked
about is stomach medicine
00:26:41.53\00:26:45.67
that came up as one
of the top ten items
00:26:45.70\00:26:48.64
which was surprising to me
00:26:48.67\00:26:51.04
but it's always nice to
have some kind of items.
00:26:51.07\00:26:54.61
Look, just ask my mother-in-law,
00:26:54.64\00:26:56.24
she carries
everything if I need a napkin,
00:26:56.28\00:26:59.75
if I need medicine,
if I need a thimble,
00:26:59.78\00:27:03.02
if I need a paperclip
you just name it, she has it.
00:27:03.05\00:27:06.39
Somehow, it
comes out of nowhere.
00:27:06.42\00:27:08.09
But for me as a man,
00:27:08.12\00:27:09.46
and what the
type of thing I carry,
00:27:09.49\00:27:12.63
I don't have that
information and I would say,
00:27:12.66\00:27:15.13
I don't have the capacity
to carry stomach medicine on me
00:27:15.16\00:27:18.40
so I just don't.
00:27:18.43\00:27:19.77
But those are different
things that you can think of
00:27:19.80\00:27:23.00
when you're looking at
what you carry and why.
00:27:23.04\00:27:27.64
So those items are
what I would tend to think
00:27:27.68\00:27:30.55
are important to
have in your wallet
00:27:30.58\00:27:33.62
and as someone that
lives in urban areas,
00:27:33.65\00:27:35.82
it's important to
watch your surroundings,
00:27:35.85\00:27:38.15
watch where you go,
00:27:38.19\00:27:39.52
make sure you're
not around individuals
00:27:39.55\00:27:41.59
that are looking at
suspicious behaviour,
00:27:41.62\00:27:43.89
realize what you have
00:27:43.93\00:27:46.16
gives a
perspective of who you are,
00:27:46.19\00:27:48.93
and people are
looking for that information
00:27:48.96\00:27:51.77
and as always to
take it from you.
00:27:51.80\00:27:53.77
In this case
00:27:53.80\00:27:55.14
I thank you for being a
part of Take it to the Bank.
00:27:55.17\00:27:57.77
Take care.
00:27:57.81\00:27:59.14