Why is it foolish?  I&#x27;m not real fond of being called a fool.  I&#x27;ve had more problem with credit card fraud (and the lost money in fees because of it even if the original money was restored) then I ever had carrying cash.  I don&#x27;t honestly get this &quot;you could be mugged&quot; thinking.  If mugging happens often enough that its a risk factor in carrying cash, then you need to think about where you are living.