Sure, I'll extol the benefits of a large bag to tote your gear, but sometimes smaller is better. Case in point: the Case-Mate Kayla Wristlet ($48) with a dedicated pocket to tote your iPhone (or similarly sized smartphone).
It comes in four bold colors, with a canvas and leather exterior and wrist strap. Inside, a zipper pocket, money pocket, two credit card slots, and an ID window for keeping all of your essentials neatly organized. If you're not sold on the canvas, there's also a leather option for $58. Click through the slideshow to take a closer look.