I have recently come to love the little wristlet purse that my mother gave me. It holds just what I need for a quick trip to the store, and I can carry it hands-free on my wrist. A swivel hook attaches my keys so I don’t lose them. Kelly from ReStitch Me guest blogs at Kristina J. showing how you can make one of your own. Her version is a bit bigger than the one I have; it looks like you could also put a phone in there as well. Go to her tutorial.
[photo from ReStitch Me on Kristina J.]