As with many things in life, your wallet may have a tendency to get cluttered and disorganized over time. After all, you may pull things out of the wallet quickly. Or, you may stuff them in with hardly any thought as you go about your day. The reality is that the organizational status of your wallet can impact your life in many ways. After you learn why you should keep your wallet organized, you can then learn more about how to organize your wallet with minimal time and effort required.
Why You Should Keep Your Wallet Organized
You may think that your disorganized and cluttered wallet is simply a hassle or inconvenience in your daily life. This can cause your stress level to rise, and it can waste your time while you are trying to find something that you believe may be in your wallet. However, a disorganized wallet affects your life in many ways.
For example, when you learn how to organize your wallet, you could control your spending more easily to save money. You also may be able to maximize your rewards from credit cards when you know how to organize your wallet effectively.
How to Organize Your Wallet
Many people simply place the items that they use most frequently in the front of their wallet, but this approach may not yield the most positive results for you. If you want to know how to organize your wallet, follow these easy tips.
1. Simplify Your Wallet
As a starting point, you should adopt a minimalistic mentality regarding your wallet. Take time to clean it out to begin the process. Sort the items you use frequently from the items you seldom use or have not used in many months.
Ideally, when you want to know how to organize your wallet most effective, you will only keep your debit card, your ID card and perhaps one or two credit cards in the wallet. You may also need your health insurance card as well as some cash.
Avoid carrying many credit cards in your wallet. In fact, you may even think about canceling some of your accounts. This can simplify your financial management as well as help you to keep your wallet more organized.
2. Develop an Organizational Strategy
If you want to know how to organize your wallet in a manner that could improve your financial situation, it may be wise to research your credit card rewards and perks. Many people are not aware of their rewards and perks, and this is because the perks can change frequently.
Place the credit cards in your wallet according to the ones that have the highest rewards. If you cannot remember the rewards structure easily, consider writing notes about the rewards systems. Write them on small sheets of paper that you tuck discretely behind your credit cards.
You can always pull these sheets out as needed for quick reference. Remember to update them periodically as the rewards and benefits can change.
Another strategy that some people use is to organize the credit cards so that those with the lowest interest rates are on top in the wallet.
The cards that are on top of the stack are those that you are most likely to reach for when you are about to make a purchase.
3. Clean Your Wallet Out on a Regular Basis
Many people keep receipts with the intention of adding them to their financial software program or tracking them for tax-related purposes. If you do this, you likely cram receipts into your wallet until it is bursting. Only then do you take action to file or track the receipts as needed.
As you may be aware, this strategy can easily make your wallet a mess within a very short period of time. More than that, you get crumpled receipts that are also difficult to read. Some receipts may even get lost or misplaced.
The best idea is to get into a regular routine of pulling the receipts out on a weekly basis. By doing so, your wallet will stay clean and organized.
You also will have all of the receipts that you need to save stored in a safe location, and you will be able to track your spending more easily and accurately.
4. Invest in a Smaller Wallet
Take a closer look at your wallet today, and note how large it may be. The reality is that if you have a lot of storage space in your wallet, you are more likely to store more items in it.
You may also be less likely to clean the wallet out on a regular basis. Larger wallets, therefore, have a tendency to be less organized than smaller wallets.
A smart idea if you want to know how to organize your wallet is to choose a smaller wallet. By downsizing your wallet, you will have to limit the items in your wallet. You may find is as an encouragement to clean it out more regularly.
You may even stop losing gift cards and rewards cards in your wallet, and this could save you money in the months to come.
5. Keep a Second Container for Coupons and Rewards Cards
You likely are loyal to at least several stores and restaurants that have given you a rewards card. You may also receive coupons for savings periodically that you want to keep with you to use for savings on future purchases.
These items can weigh down your wallet and make it disorganized and cluttered. A smart idea is to keep a small storage container in your car that is used specifically to store these items.
When you get to a store, you can easily pull out the exact cards or coupons that you intend to use. This way, they are available when you need them, but don’t have multiple cards and coupons cluttering your wallet.
You might also like – What Is a Rewards Credit Card and How to Use It
6. Remove Single Dollars
If you are like many other people who want to learn how to organize your wallet, you may regularly pull coins out of your wallet. Coins are heavy and bulky, and you really only need access to a few of them at a time for various small purchases.
The unfortunate reality is that single dollar bills are also not worth much anymore. Additionally, you may waste a lot of space in your wallet using singles.
You can easily pull your singles out of your wallet and store them in your loose change container. Your savings balance will grow more quickly, and your wallet will be less crammed with items that have little value.
You can see that keeping your wallet organized will help you to simplify your life and even save money in the process. Organizing a wallet regularly may sound like a lot of work. However, you can see that after you set up the right organizational system. It takes minimal effort or time to accomplish your goal. As a first step, start cleaning out your wallet today, and buy a smaller wallet if necessary. This will get you well on your way to enjoying the benefits of keeping your wallet organized.