It’s that time of year again. Tag sale signs are going up, and your friends are talking about spring-cleaning. Every year, you intend to partake in the spring-cleaning ritual. It sounds good, doesn’t it? Sorting through things you don’t need, and selling them for a bit of extra cash, or donating them to people in need – it sounds like a great project. But every year, you stare at your closet and your cluttered desk drawers and think, “I’ll start after I get lunch. Can’t take on a big project on an empty stomach!” or, “I should probably watch one of those home makeover shows to get myself in the mood for cleaning.” The task seems monumental. You keep putting it off until you forget about it.
Instead of tackling this enormous project, start spring-cleaning by cleaning out something small, like your wallet. Cleaning out your wallet will give you a sense of accomplishment and it can improve your relationship with money because it will keep you organized when it comes to your finances. I recently cleaned out my wallet, and it has helped me keep on top of my finances. Read on for my tips!
Tips for organizing your wallet
- Buy a smaller wallet. If you have a smaller wallet, you’ll have less space, meaning that you’ll only carry around what you need – some cash and a few credit cards.
- You can keep it, but you don’t need it in your wallet. Many people carry random things around in their wallets for sentimental reasons. Pictures of your kids, your dog, friends’ business cards, even receipts that have sentimental value. I mean, how could you part with the receipt from the first date you had with your wife? Or the receipt from the first college book you ever bought? It’s ok to keep these items, but ask yourself if it’s really necessary for you to keep them in your wallet. Do you need to carry these items with you every day? Reflecting on these items can help you free up space in your wallet.
- Get rid of your receipts. It’s a good idea to keep track of what you buy, so make an inventory of the receipts that you have in your wallet, but then discard the receipts – you don’t need them. You can also switch to a service such as Mint.com, which will track the purchases that you make with a credit or debt card and store the information on your phone/computer. Being aware of how much money you are spending will help you determine purchases that you can cut out in order to save money.
- Break bad habits. Get used to carrying around a minimal amount of cash and disposing of receipts right away, instead of continuing to stuff them in your wallet (or you’ll have to keep cleaning out your wallet every month!).
Cleaning out your wallet can help you track your spending and decrease it. For more information on my wallet-cleaning journey, you can contact me!
Happy Spring!