Even if you happen to work from home as an Internet entrepreneur, you probably still deal with little tools and other pieces that can easily get lost, dropped, and stepped on. Sometimes, the best gadgets are also among the simplest solutions. Such is the case with the MagnoGrip wristband.

It is designed largely for DIY experts, handymen, contractors, and other similar professionals, but there is no reason why hobbyists and other people can’t make great use of this product as well. In short, it’s a magnetic wristband that can be used to hold loose nails, screws, nuts, bolts, drill bits, fasteners and other metallic items that would otherwise get lost on the floor while you are working.

Made from heavy duty canvas, industrial grade velcro, and powerful magnets, the MagnoGrip allows you to finish jobs in less time and with less frustration. The magnets on it are so strong that they can be used to hold a hammer in place while you use another tool, though that may not be the most comfortable of applications. It is also big enough for wrists as big as twelve inches.

Find the MagnoGrip on ThinkGeek for $14.99.