Everyone has a different comfort level when it comes to risk. Personally, I've heard too many pickpocketing stories not to wear a moneybelt, and as it really isn't that uncomfortable, it doesn't seem like a terrible burden to use one. In my purse, I usually keep just enough money to pay for daily expenses, but not so much that I would be devastated by the loss. For me, that's about 100 Euros, but others may have different needs.

U can use the money belt for your wallet and passport and keep spending money in your front pockets...that is how I use it, anyway. My cards, wallet, passport go in the money belt, my cash and coins go in front pocket.