Where your treasure is, that's where your heart is.
So, in your wallet/purse, there is now an ID and and IOE.
You might be prompted that you need to carry money at whatever currency the country you are living has.
(Have you ever think this, your dollar can't buy anything in some smaller countries, and this include your credit card. And I'm talking about a really small country that don't have bank or other financial system yet. Yes, there are still some countries without bank.)
So carrying, a huge chunk of monies wouldn't be helpful for this reason. Carrying your multiple credit cards won't even be necessary. I would suggest to carry money just enough to pass the day (to buy breakfast, lunch, dinner, and to get to your destination). To some, it might surprise you at how much money you would save by doing this. You no longer have the ability to buy more than you have planned, of course, no credit card involved. Once you ran out of money, just come back home and rest until the next day :)
Another option, if you ran out of money, you can ask if you can work for somebody for a staying place and food in return.
That's all the essential items that should fit in your small travelling bag.
Wait a minute, what about clothing, my favorite soap, toothbrush. Well, I would give you the recommendation that my friend gave me: "To travel only with the sandals/shoes that you have and whatever you have on you."
First, you want to assimilate right away with the place you are staying. It's like different company has a different dress code. Second, you avoid the hassle of carrying your big luggage.
The same applies with other minimal stuff. Sometimes, people will provide you with the basic health amenities, like towel, soap, toothbrush. This doesn't mean you get to carry them home with you :)
So, at last. When you are travelling with your small bag next time, bring only three things daily (your ID, an IOE, and just enough cash)
Happy travelling.
(ps: if someone wants to share their travelling experience, please put it under comments, thank you)