Personally, we do not like to use 'waist money belts'.  Unless you are going swimming or wear clothes that do not have belts, we have found that for us  'belt-loop wallets' are far more convenient.

We use two styles: a leather wallet and a larger, cloth wallet, both with belt loops.

The black, leather, 'Loop Wallet' is made by Austin House® Travel Essentials® from The Savvy Traveller.

We put the day's spending money, one credit card, British Heritage Pass and any traveler's cheques we might cash that day in the leather wallet.

The larger, cloth wallet contains our passport, the copy of our travel mate's passport and photo, traveller's cheques, airline tickets, BritRail Pass, extra cash, driver's license, et. al.

You do not want it to be visibly obvious that you are using belt loop wallets.  Do not wear a belt that contrasts in color to the wallet loop.

Perhaps the obvious needs to be stated... When putting them on your belt, be sure that the wallet loops are between the belt loops on your clothing.  When you loosen your belt, you do not want the wallet dropping off unawares!

Whether you decide on a 'money belt' or 'belt loop wallet'...

Sorry to have been a spot of bother ['inconvenience'] belaboring all this.  But, after all, we are talking about keeping your passport, airline tickets, credit cards, traveller's cheques ['checks'] and cash secure.