I have a medium sized purse which carries my reader, wallet (it's actually a planner/wallet so it's pretty big), my wallet has all my cards in it, even the ones I don't use everyday. I also have my "feminine needs" and a brush, nail file and makeup (which I rarely, if ever wear), my blackberry and keys. My biggest problem is that I end up with a bunch of change or old receipts that I've been too busy (lazy) to clean out. My purse weighs about 7-10lbs on any given day. I also need to buy a new purse at least once or twice a year due to rips in the strap or broken zippers. I try not to spend more than $20 on a purse.
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