Oh, also you can save on other areas when you don't travel with expensive stuff.
You don't have to buy travel insurance, esp. since it is always a hassle claiming and may not be successful.
Just buy a accident and infectious disease policy.
It covers you for one year much cheaper than insurance.
The one expensive thing that I regretted buying for my trip is travel insurance.
Don't bring things that you don't need.
I look at people's luggage and I never understand why they bring what they bring.
I have travelled for over 1 year through 4 seasons and through dry and wet climates - all sorts of environments, and I can tell you that I only need to bring 1/4 of what most people bring for a 10 day trip in a single location, single climate.
Really think about whether you will need something.
If there is less than a 20% chance that you will need something, on a typical short vacation, you will almost always not need it at all.
Also, think about what's available.
For e.g., if you are going to a city, you don't have to bring a first aid pack with 20 medicines and creams because they are likely to be available in the pharmacy just a stone's throw from your hotel.
Oh speaking of medicines, you may bring some very basic ones with you for immediate relief, but I have learnt that you should get the medicines available in the place you are in, especially for things like stomach ache, cos they are specifically targetted for the bacteria in that place.
[Believe me on this, I got Salmonella in Egypt.]
And regarding money, never carry more than 200 Euros in cash on you.
Keep 100 elsewhere.
But always bring a credit/debit card that can be used internationally.
Draw 300 again when out of cash.
For me, you will seldom find more than 100 Euros cash on me.
If you have more than 1 card, always carry one with you and have the other in your main bag/hotel, etc.
Try to carry at least two cards if you can get.
I lost one card to the atm machine but fortunately, i still have another card.
Otherwise, I would be penniless quite soon and my trip would have ended 10 months earlier.
Besides debit/credit card and maybe driving license, you don't need to bring any other cards with you.
And just a little cash.
You don't need to bring a wallet.
Here's the perfect travel wallet:
Take a small cloth sack pouch (Camper's Corner at Capitol sells pretty neat ones for $5 i think; that's what I used).
The pouch should have a loop which you can attach a chain to.
You can get a small and not so long dog choke chain from any pet shop for around $2-3.
So one end attaches to the pouch with those keychain ring, and at the other end, attach a small carabiner.
You should attach this carabiner that links to your wallet to your belt loop or some attachment to your body.
Belt loops are the best and usually your T-shirt will cover your belt loop.
So with your wallet chained to you, it is not easy to pick pocket.
I felt very safe with this set up and never ever experienced any pickpocket attempt on my wallet.
Pickpockets usually go for easy catches - if they see a chain on your wallet, too much work, they will not be bothered to try.
Of course, don't take for granted, still have to be careful.
Last year, Barcelona ranked first in a study of cities with the most pickpocket crime and Paris ranked third.
I was in both of these cities, Barcelona for 2 weeks, walked all over town in the middle of the night - no problem with pickpockets for my wallet.
London also in top 5 list - was there 4 months - no issue.
But yes, I had experienced many close shaves with these thieves.
Especially if you are carrying a backpack, always keep an eye on it.
Always be aware of your surroundings.
Don't let anyone come close to you, especially any body contact.
Don't be so paranoid.
Just take the necessary precautions, use common sense, have more awareness and enjoy your trip.
After I lost half my necessary travel gear, I still survived and travel on.
Lost sleeping bag at the beach - bought a big beach towel to wrap myself.
That's the fun of travelling - how you improvise and solve problems on the road.
Don't worry, just enjoy the trip.
Even if you lost all your stuff, life can still go on.
But if you worry about losing your stuff, then you are losing the joy and meaning of your trip and your life.
All the best!