My Dad lost his wallet over the weekend on a vacation. It is a real hassle to lose a wallet, but can be worse if you are not prepared. The cash lost was not negligible, but the biggest issues are not paper, the are plastic.
If you lose a credit card or debit card, you need to call the bank immediately to cancel it. Have a wallet inventory on hand just in case in a safe place. I have 4 important cards in my wallet in addition to others that are not as big of a deal. I keep a credit card, a debit card, my drivers license, and my student ID in my wallet that must be replaced immediately. Two are a quick phone call, the others take a fee. I also have my health insurance and AAA card, movie points cards, and restaurant frequent user cards.
You may be responsible for charges on your card until you cancel it, so be ready to do so right away. It is always a pain in the ass, but does not have to be the end of the world. Just be prepared. To take it a step further, photograph your wallet contents and save them on your computer or phone/blackberry. Having a legible copy of both sides of your cards on an iPhone type device should give you the replacement information you need.
