I tie my top around my waist too if it's long sleeved. If it's short sleeved, I tuck it in my waistband.
Most runs and races, I just put my stuff in my pocket (all my shorts have pockets). However, if it's an extra long race (half marathon or better), I also use a SPI belt. They're great because when empty, they're very small & they stretch to accommodate the items you put in them. I usually have my phone, car key, money, and my health insurance card in mine. I tuck it into the waistband of my shorts so it doesn't show or bounce around.