My saddle bag contains one tube (used to be two tubes when I had a big ugly saddle bag), two tire levers, debit and ID cards, and a cell phone...sometimes gum as I find that it helps to keep my mouth from drying out while riding. I carry cash in my back pocket usually. I have a frame pump mounted to my top tube. I carry two water bottles regardless of ride length...just because.

edit: forgot that I carry a multitool as well.