Your wallet or pocketbook probably feels a bit like an arsenal. You’ve got a half dozen different ways to spend money all in one place. Finance blog Three Thrifty Guys suggests this can make spending money more tempting. Instead, try cutting down.
Picture: Ryan Loos
The logic is similar to the small plate tip for dieting: you can trick yourself into eating less by simply using smaller plates. When applied to your wallet, you can force yourself to spend less by simply having less money available to you:
When I have cash in the pockets or wallet, I tend to spend it pretty quickly. Even having numerous credit cards gives me more inclination to spend. So, I typically carry very little, to no cash and only two credit cards for emergencies or large purchases (where I might be able to rack up some quick cash rewards).
Of course, we’ve already talked about how to reduce the size of your ridiculously large wallet, but if you want to go truly minimalist, you might be surprised to find out that a rubber band could be the best wallet you’ve ever had. Be sure to check out Three Thrifty Guys’ post for more ways to portion-control your finances.
3 Ways to Portion-Size Your Finances [Three Thrifty Guys]
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