I try to keep my wallet as light and streamlined as possible (no Costanza wallet for me!). To this end, I’ve found the following strategies to be particularly useful:
1. Carry one credit card. In fact, own as few as possible; signing up for every store card, or offer that comes in the mail, only complicates life. Who wants to deal with all that paperwork? (And worse yet, all that potential debt!) I typically keep two credit cards at a time: one with a high credit limit, for travel and big-ticket items; and one with a low limit for online shopping (to lessen the hassle if the numbers are stolen). The low limit one stays at home, the higher limit one in my wallet.
2. Carry one debit/ATM card. This not only reduces the bulk of your wallet, it helps you consolidate spending onto one bank statement.
3. Carry cash. Okay, from a strictly minimalist standpoint, you might say that cash adds unnecessary bulk. However, I much prefer to carry a few bills, rather than review a bank statement that has a zillion little purchases on it. In fact, I use cash as much as possible, particularly for minor expenditures like food, household supplies, drugstore items, books, magazines, and most clothing. I simply don’t want to be bothered with keeping the receipts, and matching them up to a bank statement every month.
4. Don’t carry a checkbook. It takes up too much space, and makes you that person that nobody wants to be in line behind.
5. Don’t use your wallet as a filing cabinet. I empty all the receipts from my wallet as soon as I get home, trashing the insignificant ones and filing those that I might need later (for warranties, returns, tax purposes, etc.).
6. Don’t use your wallet as a Rolodex or photo album. Leave your business cards and photos at home (or convert them to digital format and put them on your smartphone or PDA, if you carry one).
7. Be selective with “loyalty cards.” Don’t accept them for places where you don’t shop frequently; or if you do, only bring them along when you’re going to that particular store. I only have one at the moment, for the store where I do most of my grocery shopping. If I had more, however, I’d seriously consider using a service like JustOneClubCard to consolidate them.
When it comes to your wallet (and financial transactions), how do you keep things simple? I’d love to hear more tips!
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I actually try to buy as much as possible by card because I then use my bank statement to add up budget expenses later BUT I also try to keep in mind that if you go to the grocery store 20 times in a month, that makes for some pretty annoying accounting–and waste of money–so I try to keep my trips to a minimum on everything. I do shop at the farmer’s market, though, for which I obviously pay cash–in that case, I keep something to write with/on so I can track my expenses (I’m anal that way–and the farmer’s market doesn’t give a receipt).
I’m actually kind of in a funk about credit cards in general and am toying with the idea of using paypall or something for online purchases–or in France, you can generate a one-time card number for online purchases and then just use your bank account. It’s not only for simplicity though, it’s the principal: I hate credit card companies and feel dirty for keeping the cards just to pay for an online purchase every once in a while. I’m beginning to envision life without credit cards, but I’m still in the planning stages–I’ll let you know how it goes.
And I concur–get rid of the loyalty cards and don’t accept new ones. Often, if you shop at a grocery store, you can get a loyalty account that is linked to a phone number and won’t have to carry a card. Besides, loyalty cards are invented to get you to spend more at a given store–I’m not sure they really save anyone any real money.
Trish, I feel the same way about credit card companies, and would also prefer to go card-free if possible. (Right now, however, I find them essential for travel and online shopping.) I hope you’ll blog about your progress in giving them up — I’d love to read about it!
Here’s my one tip: don’t have a wallet, at least not one that you put in your pocket.
This is possible if you only carry cash (bills, and less than 1 dollar in coins). Post-purchase, keep the transaction receipt(s) with the bills.
If you need to be identified, e.g. if you will be driving a motor vehicle, then put your driver’s license in one of your pockets.
If you are going to the library, put your library card in your pocket.
Don’t have a regular need to carry anything else in your pockets — key(s), mobile phone (if any), and any other items go into a backpack or some other bag. I find a great place for my key is that small “pocketwatch pocket”, the common style to many jeans. Keeps the coins and key separated.
Steve, what a wonderful minimalist approach to the problem — give up the wallet altogether!
I carry a duct-tape reinforced paper wallet in my pocket with a minimal number of cards (2 credit cards, debit card, license, medical insurance card), and then I keep a second wallet in the car with all the other cards I might need while I’m out – library, etc. – and the photo album.
I’d try the “no wallet” idea, but the duct-tape is also handy for those times when I need just a small piece of tape. I’m surprised by how often that is. Then I just add a new piece of duct-tape when I get back home.
Very practical, David! I didn’t realize duct tape wallets were so versatile.
I use an All-ett, which if you Google, you’ll see that it purports to be the original world’s thinnest wallet. In it, I carry one picture of the baby triplets because I find that’s a great conversation starter, one debit card, my license, my health insurance card for all the kids and my BJ’s Wholesale Club card because my wife often asks me to make a run on my way home from work to pick up diapers. That’s it. It’s quite thin. So thin that I often forget I’m carrying it and will have to check my pockets sometimes to make sure I didn’t lose it.
Some nice comments here too. Appreciate everyone sharing.
- Charley
Thanks for the info on the All-ett, Charley; I’d never heard of that!
@David, that’s great! I love the idea of using your wallet for repairs on the road…
I too carry a small wallet, I mean really small, it’s ~1cm thick. In it is ID, medical card, US Passport card (I’m overseas), 1 debit card for local account, 1 debit card for US account and cash. Coin goes in my pocket or a pouch in my backpack if I’m carrying it.
I started carrying a minimalist wallet like this years ago when I switched to front pocket carrying. At the time I just hated the bulk, now it fits in with all the other changes I’m making!
Hi Jesse! I have to carry my passport at all times too — does yours actually fit in your wallet?
No purse or wallet for me. My required work ID comes in a plastic sleeve. Into that, I slide my drivers license, medical insurance, and a credit card. Occasionally, a bank card is added, if I think I’ll need cash. Although, I don’t like to keep track of bills and change.
Usually, store loyalty cards are kept in my coupon organizer and carry that when needed. The spare keyring minicards are on a ring in my glovebox.
Thanks for the info on the JustOneClubCard. What a great idea! Would it be possible to do this at home, by scanning the minicards on a flatbed scanner?
Great use of your work ID sleeve, Marie! I haven’t tried scanning minicards, but I imagine it would probably work…(good idea!)
i don’t carry a wallet in the winter, i just put my drivers license and my debit card in my pocket with any cash i need. my keys are usually in a coat pocket and that’s it. my coat has other pockets if i need stuff but i usually don’t. no cell phone or anything. i do have a purse i carry sometimes, if i need it with other stuff like prescription sun glasses and my wallet i carry in the summer, but i rarely need the stuff in my wallet, i would get rid of it but i love it and i have had it for almost 12 years and have never found another one i like as much.
I agree, Tabatha — love how coat pockets can eliminate carrying a wallet/purse in cooler weather!
[...] This post was mentioned on Twitter by miss minimalist, Jesse Kelber. Jesse Kelber said: Good stuff @missminimalist – http://www.missminimalist.com/?p=461 – what do you carry in your wallet? [...]
For those of you whom do not carry insurance, vehicle or medical, cards – and do have either of the respective insurances – would it not be beneficial should either of the two be required? No, a person will not use his or her vehicle insurance card daily, but should a wreck occur, it would definitely be in your favor to have it. As for me, I carry a Big Skinny Card Case, which is a bit larger than the All-ett, but I prefer it over the latter design. In it on one of the two sides, I carry my two forms of ID (both required; a university and state ID), my medical and (laminated) vehicle ID cards, and my insurance prescription card, none of which I would consider leaving home, simply to reduce clutter. The other side carries my credit card, debit card, cash, a club card (that’s required to even enter a certain bulk item store), and two membership cards to other stores I am likely to frequent. That’s all. Altogether, my wallet is only four inches long, two and one-half inches tall, and one-half inch thick. While it may be thicker that at least one of the above poster’s wallet, the cards on the first side are non-negotiable that I carry, and I do not see leaving such cards at home if a person has them. The information listed on them, unless written down elsewhere and placed within your wallet for easy retrieval, could become invaluable on the one day in a decade when you need it. I see the trade-off of a slightly thicker wallet for having the cards when I need them to vastly outweigh the minor increase in bulk. With that said, I do see the original post to be spot-on; I did a similar purging when I moved to my previous wallet, and downsized even more when I purchased my current Card Case.
Thanks for your comment, Rex! I carried my license and health insurance card when I lived in the States. I haven’t been driving here in the UK (so no need to carry a license), and I’m not sure if I need to be carrying a National Health Service card. Thanks for the reminder to look into that…if anyone in the UK knows the answer, please let me know!
You’re right, though — I wouldn’t leave such important cards home simply to eliminate wallet clutter. Much better to have them if the need arises!
A bit late, but…
You don’t need to carry your NHS card. You should always be able to be traced through your GP, name, DoB etc.
My biggest problem in downsizing my wallet is all the change actually. I like to keep all my money together, and the notes here turn into lots of change way too quickly, especially with my bf borrowing money to go to the shops, then bringing me the change. Having so much money sitting in a change jar seems like a waste in a way.
Thanks for the info on the NHS card, Dorothea!
Ugh, don’t even get me started on UK change…it drives me crazy! (The £1 coins are so heavy, and what’s up with the giant 2 pence?) I actually count what I have *before* I go shopping, so as to try to get rid of as much as possible (and not accumulate any more)!
Great link to the club card site! For the past few years I have carried a credit card wallet in a front pants pocket. I was trimming club cards and taping them to a piece of paper. Now I just have the piece of paper!
A note about carrying vs. not carrying items: Like with all things minimalist, there should be a compromise between simplicity and convenience. In addition to a license, student ID, two credit cards, Costgo “gas” card, and some folded money, I carry two adhesive bandages. A cut finger is no longer the slightest hassle. Before my iPod Touch, I carried a piece of paper with metric-standard conversions too. Simplicity and convenience–only you can decide the ratio that is most comfortable for you.
Scott, great point about finding a balance between simplicity and convenience! Carrying a few “extras” can certainly minimize the hassle and time spent in addressing a problem.
This post and the comments prompted me to have a look at the contents of my wallet and here’s what I found:
- an ATM card
- a credit card
- an ID card
- a health insurance card
- a couple of public transportation tickets
- an extra SIM card and
- an “in case of emergency” card with contact information of my husband, parents, siblings and in-laws.
That’s about it. I just add a bit of cash in there whenever I have to go out plus a few small trip or errand-specific things I might need like a library card or a shopping list.
Hi Mia! It sounds like you have things pared down to the essentials.
The “in case of emergency” card is a good idea — I hadn’t thought of that.
I have a wristlet…it looks like a wallet but contain a place for my ID, one credit card and one in case of emergency card, a spot for store coupons and some paper money and coins, I can fit a lip balm and I attach my keys to the outside and my cell phone. I used to lug around a huge purse that helped me tote the huge wallet I had inside. Smaller is better and more organized.
Heather, a wristlet sounds like a great substitute for a purse!
Downsizing my wallet (and bag) was one of those things I decided to do a while ago. I carry cash, one debit card, library card, a spare couple of stamps and that is it. I try to pay cash for most everyday groceries otherwise what you buy goes one enormous database and then you get hassled with unwanted cards and offers. I believe in ducking under the radar of modern life! I have one credit card which is hardly ever used (I too would dearly like to do without one altogether) but I leave this at home (less tempation to use it!). I clear out receipts the minute I get home and keep them paperclipped together. Takes me about two minutes flat to go through my bank statement each month, then I shred them. Miss M: I would say you do not need to keep your National Insurance card on you. I never have and have never needed to produce it quickly. Probably most of you do this already, but for essential cards that you carry around each day, it is important to keep the details or a photocopy at home in case of loss or theft. Saves a lot of panic if the worst comes to the worst. I speak as a veteran of two handbag thefts!
Great system, Frances, and thanks for the advice on the NHS card!
The biggest thing that helped me minimize what I carry around was switching from a trifold wallet to a money clip. Carrying a money clip forces me to make decisions about what I take with me because very little will actually fit.
I like that strategy, Sam: minimize the contents by minimizing the space allotted.
[...] The Minimalist Wallet [...]
Another typically wonderful post! Last night I emptied over an inch thick of ’stuff’ from my wallet! All sorts of cards, pictures, the one or two receipts etc. I now have just one cash card and one credit card and nothing else! Putting my wallet in my pocket this morning felt like wearing a comfortable pair of new slippers!
Ditto my key chain! I have removed nearly 30 keys, baubles like a torch and USB key leaving just the two front door keys and a work locker key! It feels amazing how light both legs feel now!
Way to go, Jens! Isn’t it great not to be “weighed down” by all that extra stuff?
Absolutely! I’ve been doing okay so far keeping the paper off the desk and filed/trashed/shredded etc. Now the wallet and keys. Next, our clothes mountain range! So much needs to go!
I’ve gone without a “traditional” wallet for some time now. My replacement? Those 3-for-a-dollar miniature “marble” composition books. My license and cash are secured inside with a rubber band, and I no longer have to carry a separate notebook for ideas, expense tracking, etc. Works wonderfully well for my minimal style.
I don’t carry loyalty cards at all because, where I live at least, they can be accessed by giving the clerk your phone number (or typing it in at the PIN pad).
I keep my cards wrapped up in a rubber band, which I’ve done since I started carrying them in my front pocket years ago due to back problems. I don’t have mine close by at the moment, but I know I have my driver’s license, debit card, two credit cards, health insurance, library card, and gas credit card (which I should take out, since I never need it unless traveling non-locally). I can wrap up cash in the rubber band as well.
The two credit cards are a Visa (high limit, delightfully low interest) and an American Express that doubles as a Costco membership. We treat transactions on the American Express as if the card was a debit card…everything spent on it is subtracted from the checkbook with a special notation, then added back in when the bill comes due, so it gets paid off every month. One of the huge benefits of this (besides paying no interest!) is that a lot of the charges aren’t due for over a month, due to the odd billing cycle. This means we have a good deal of money “hidden” in the checking account, drawing interest and there as emergency padding.
The higher limit card is used for emergencies. Since I’m unemployed, it would be the card we would go to if we had to make purchases that weren’t going to be paid for right away, since the interest is low. Fortunately we’ve been able to avoid that so far, and we carry no balance on either card.
i use a money clip which carries the following:
- drivers license
- ATM card
- Visa (for places that dont accept AMEX) – used 1% of the time
- Hilton Honnors AMEX – used 99% of the time
- Company Credit card (there mostly because the other will fall out if i have just 4)
On the other side, i have at most one $5 bill.
99.9% of the time i use credit card, which gets paid off in full each month. No questions about it. I make enough to pay it off, so i have never paid interest on credit cards.
I have earned over 1 Million points with Hilton Hotels and have not paid for a hotel in 10 yrs.(also have a time share with them).
I use credit cards to keep track of transactions and ultimately want to know where my money is going, so i can cut back where i want to.
I love your blog, btw. get it in my RSS feeder and love every new entry!
good luck.