Great idea when you want to loose phone, cards and money all at once!
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Granted, it's a little easier when you're a guy and live in 5.11's with pockets everywhere, and I don't have anywhere near as many balls in the air to juggle (though the Ill-Tempered Mutant Landcrab does her darnedest sometimes), but... the basic principle of "set a place for every thing, put everything in same place every time" helps a lot.