Make Room for the Money! Reduce Wallet Clutter

Okay, empty your wallet. Clear off some space on your desk and take everything out. Spread it around so you can see everything. Now, we’re going to categorize it.

Coupons: Are they still good? Are they worthwhile? If you're not in the habit of using coupons, they can be more trouble than ...Okay, empty your wallet. Clear off some space on your desk and take everything out. Spread it around so you can see everything. Now, we’re going to categorize it.

Coupons: Are they still good? Are they worthwhile? If you're not in the habit of using coupons, they can be more trouble than they're worth. It doesn’t matter how big the discount is if it’s from a store you never go to or, worse, for an item you don’t even need. If you always drive to do your shopping, consider keeping coupons in the glove compartment.

Frequent buyer cards: These can be like coupons. Only use ones from stores you patronize regularly AND where the clerk asks you for it (otherwise you may forget to present it). Make sure you don’t have duplicates.

Store credit: Use it! Even if it doesn’t expire, just use it. Buy a gift for someone else if there’s nothing you need or want (like that’s going to happen). Schedule a trip to that store when you know you’ll be in the neighborhood.

Membership cards: Most establishments will allow you to give your phone number instead of presenting your card. When you’re offered a card, ask the clerk if you can use your phone number as your ID. Sometimes they’ll say yes but still insist on giving you a card. Take it and throw it away. This creates much less wallet clutter.

Receipts: Why are you keeping them? To balance your checkbook? Are you going to claim them on your taxes? Might you want to return the item? Will you be reimbursed? The answers to these questions will lead you to store them in different spots, so it’s important to ask them. Receipts should be sorted regularly so they don't build up.

Credit cards: You really only need one, or two if you have a business. You have to be very organized to take advantage of perks like frequent flyer miles on credit cards. Make sure using these perks doesn't cause you to buy things you don't need. And make sure you have time to manage and track your benefits. In lean economic times, it can make more sense to get a card with the lowest rate and no yearly fee. And then not use it. If you really need more than one card, you still don’t have to carry them all the time.

Scraps of paper: Dedicate some space in your date book for little notes and ideas. Reminders should go on a dated page. Phone numbers into the address book, even if they're only temporary. Use a pencil. You can also keep a stash of Post-Its in your datebook that will act like temporary scraps of paper, but they’ll stay put.

Currency: Keep your bills in denomination order. Not only is it easier to find the amount you need, but you will have a better idea of how much you have at any given time. This is also a way of respecting your money and treating it well, so you’re less likely to squander or lose it.

Stamps: Can be handy, but only if you remember they're there. Otherwise, you'll find them by accident and discover they're 32 centers. Just wait till you get home to mail that letter.

If you really want to pare down, here are the basics to keep in your wallet.

The short list:
Money
Driver's license or state ID card
Health insurance card
Car insurance card
Credit card
Bank or ATM card
Transit ticket