I've always had kits (pre edc days). Around home I only carry a knife but led torches are on bedside tables. Out and about I have an urban kit, which is generally handy stuff, and a bush kit, which is a bit more survival oriented. I always have a watch on when I leave the house too. If I'm going bush I just add the bush kit to the urban kit - 2 small separate bags about the size of a kid's school pencil case. I always have a 32litre day pack. The trick is to only take what I need in the pack so that I have room for any opportunistic stuff (shopping etc).
I like kits because I don't have to give them any more thought or time. Urban - the urban kit is always in my bag. Going bush, grab the bush kit as well. One thing is I have a single AAA battery torch in each of the kits - one is enough for urban, but if I'm going bush I actually have two. This gives me both redundancy and extended lighting; even if only one torch works, I still have an extra battery.
Peanut lighter in the urban kit, ferro rod and striker in the bush kit; again, built in redundancy. Both kits are small and not too complicated - everything is easily accessible without unsealing tape etc, so they can easily be reused and replenished.
I consider my phone to be part of the kit. It is usually off when I'm out to conserve battery. It has gps for co ordinates and is communication, camera and lots of other features and useful apps, including a good light that is again another form of redundancy (as well as compass etc).
A watch is quite useful when navigating. If I have a map and see that I need to take a track east after 1.2km, I check my watch and guestimate how long it will take me to get there. If it is rough track, 15mins, maybe 20. If I get to a track heading east, but I've only been walking 5min, then I'm pretty sure that isn't my track. Of course that is just one feature that goes along with others to help get the right track (any creek crossings, walking up or down or flat, rise on the left or right etc etc). Another great feature is to help with decision making - I take shelter from the rain and think that it will probably stop. I look at my watch and give it 5 or 10 mins. Things like that - if there is a decision to be made, pick a time and stick to it. Waiting to meet someone who is late? I'll give them another 10mins.
It's also a good way of keeping track of time during walks - it keeps your time per km pretty accurate for when it is needed. Even when I'm on foot to meet someone. This happens quite a lot now because I have a dog, and choose to walk so that he can get out too.