A minimalist guide for your wallet

For most of the year, my wallet has been slowly weighing me down. It’s been one of those small, yet important things to the family finances that I have neglected for a while.

Why declutter?

For me, a revision of my wallet was about three things:

  1. Eliminate distractions (out of my sight = out of my mind)
  2. Continue building healthy financial habits and mindsets
  • It helps you think clearer. (Systemise for fewer decisions)
  • It literally makes your wallet lighter. Who wants to carry around a bulky wallet in your back pocket anyway?
This is about half the weight and thickness compared to my previous wallet.

Three (simple) steps to win the wallet

1 — Buy a new (slimmer) wallet.

Whenever you change a system, it’s best to do a clean reset. That means completely removing your current way of doing things and starting afresh.

2 — Remove the junk.

Be ruthless and remove every and everything that’s holding you down. Here’s a quick formula:

I removed 8 cards from my wallet and put them on my phone.

3 — Structure for success.

At some point, most of us have fallen into the trap of throwing purchases onto a credit card (outside our budget).

4 — Declutter your digital wallet

Your physical wallet is just one half of the problem. The other half is your digital wallet. When you take out a store card, loyalty card or credit card, you’re also signing up to get email offers and notifications from these businesses. The same goes for e-commerce apps on your phone.

Farewell my spam

One month later…

While I’m not a big spender to start with, my main struggle was being bogged down by so many marketing messages. This caused friction in my finances, and around deciding what to buy and what not to.

Business Coach at Nicolson.co | Thoughts on marketing, leadership and finance. Based in Brisbane 🇦🇺