Abstract: A handguard comprises a key holder component and a purse component fastened to, and separable from, each other. Each component fits in a user's hand, and when used while carrying a plastic shopping bag, protects the hand from irritation etc. caused by heavily laden bags. Key holder component has a back piece and front piece stitched together to form a key compartment between them, the key compartment being open at its top edge, but closed by a flap on the back piece. Purse component has two members stitched together to form a purse compartment, which is open at the top and closed by fasteners inside the purse compartment. Each component has fasteners on their outer surfaces which fasten the key holder component to the purse component. The preferred fasteners are hook and loop fasteners. Key holder compartment has a key ring retained inside by a strap that slides through an opening at the key compartment bottom. A snap hook or D-ring is secured towards the other end of the strap by a fastener.