
First, obtain a cheap wallet. A cheap velcro wallet will work fine. I prefer to use a chain wallet. Even though the wallet is expendable, the chain may make a criminal think that there is something there he/she may really want, plus I don't like losing my wallet, even if it is a throw away.
Drop Wallet
Second, Fill the wallet with some business cards, maybe a dollar, and return wallet to your pocket or purse. Now if you are ever mugged or pick pocketed, you simply hand over the decoy or drop wallet and then get away. Now, if you are in situation were your life is threatened, the drop wallet may give you an extra second to formulate a plan, be it, self-defense or running. Usually, the robber will only want the wallet and will run away himself after they have relieved it from you. Make sure you do not put anything valuable in the wallet, including ID's with your address on it, also be sure to get a good description of the suspect for the police.
Real Wallet
Personally, instead of keeping my drop wallet relatively empty, I have put together a small first aid kit inside instead. Just some gloves, some sterile wipes, band aids, ointment, a CPR mouth guard and some emergency medications. It's nice to have for small emergencies and it doesn't feel like I'm carrying around a waste of space. The first aid kit isn't worth much so if a criminal gets his hands on it, who cares. Maybe he can use for the emergency he's going to have if I ever see him again.

Don't let petty theft get you down, protect yourself from burglars.
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