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What’s in My Wallet?
By JD Bluefield | March 14, 2008
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After looking at how to eliminate coins from my pocket I also thought about how I “engineered” my wallet. To set up this story, I’ll first offer a little insight into my psyche. As an engineer, I get intensely annoyed by unnecessary bulk, clutter and things which don’t operate as intended. When it comes to wallets, I feel they should be sleek efficient and filled with the minimum “quantity” of items possible. I’m positive everyone has seen their fair share of wallets that are shaped more like footballs than the flat rectangles they should, men and women included. So I always have to ask, “What is all that stuff in there, and do you really need it 24/7?” My common findings are: cash, credit cards, insurance cards (car, health, dental), membership cards (Warehouse, gym, frequent flyer, grocery, etc.), various clothing/department/electronic store credit cards, Social Security Card, random business cards from random people, old receipts from months ago, movie ticket stubs or movie vouchers, checks or checkbook (don’t get me started on checkbooks), pens, and the list goes on.
Fluff…most of those can be left at home, canceled, trashed. I’ve found that day to day I only really need the following:
- Driver’s license: You always need one form of ID, license serves a dual-purpose. Always multi-task whenever possible.
- Two credit cards of differing carriers(e.g. VISA, AMEX): Two are required to facilitate my no-cash policy. One card is also, an all-in-one big box warehouse membership/gas/credit card.
- Less than 3 bills of cash (three $20s, a two $50 or a $100): It varies, a few large bills allows me to know how much is in there at a glance and it keeps me from over spending in cash-only settings like clubs, bars and such. When there are a multitude of $1’s, 5’s and 10’s in there, how long does it take to count and how difficult is it to track. I’ll tell you, when I see a $50 get pulled out, it breaks my heart.
- ATM Card: I could get a cash advance on the credit cards, but why pay the astronomical interest rates! Also keeps you from pulling out more than $200 per day.
- Health insurance card: I think it would be nice for the paramedics to know my medical history if I’m unconscious.
So where does everything else go? Well I keep the gym membership, grocery store discount cards, pizza stamp cards, etc. in a zip-close bag or those clear-plastic card holders that come with most wallets and leave them a drawer at home or in the glove-box.
Basically, the point is to pull EVERYTHING out of your wallet, ask yourself when you last used “fill-in-the-blank” and determine for yourself “when do I REALLY use it”? Do this once every couple weeks and the wallet will shave itself down to size. I’m sure that soon you’ll find you really don’t NEED to carry as much as you think.
Topics: Engineered Living, Personal Finance |
2 Responses to “What’s in My Wallet?”
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March 23rd, 2008 at 3:56 am
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March 30th, 2008 at 6:57 pm
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