6 Ways to Manage your Wallet and Minimize Your Spending
February 2008
One of the first major challenges I had to overcome during my financial turnaround was right there in my own back pocket. It was an overstuffed monstrosity, holding several credit cards, a gigantic pile of receipts, and a plethora of other nonsense. When I actually needed something out of it, it was a challenge to find it amidst the chaos - but somehow it was easy to find a credit card in amongst the junk.
What I eventually found is that an optimized wallet helps with personal finance recovery and with remembering seldom-used but key pieces of information. When I moved from using the wallet as a catch-all to using it as a tool, I began to realize that it could save me a lot of time and money compared to the way I used to do things. Here are six of the tactics I used.
Junk all but at most two of your credit cards.
Wrap a picture of your goal or inspiration around your credit card.
Use it for password storage.
Merge some of your rewards cards.
Process your wallet once a week or once a month.
The next time you buy a wallet, don’t buy a cheap one.
Read Six Tactics for Modifying Your Wallet to Minimize Your Spending and Maximize Your Time