The Best Wallet

Buying Guide

The way we spend money has changed a lot over the last century. From coins to cash to cards, wallets have been there to help us carry it all — but their design has morphed in several ways to keep up with the times. These days, it’s easier than ever to find a wallet that fits your spending habits, no matter how little you actually need to carry in it.

There are several different basic types of wallet, and each one is geared toward what you might want to carry around (and how much of it). The most common design is a billfold, and that can come in two configurations: trifold or bifold. Trifold wallets, as the name implies, typically fold out into three sections. In each of these sections, you’re likely to have tiny sleeves that you can put cards into, as well as a main pocket where you can keep cash or maybe some larger documents. If you’re the type who needs to carry around more than six credit cards on top of your ID, pictures, discount cards, etc., this is your ideal wallet.

Bifold wallets have become more popular in recent years, mainly because people have started carrying fewer cards and even less cash (if any). Bifold wallets have only a single fold in the middle, which means there are fewer sleeves for credit cards. On the other hand, that single fold makes them much more compact. If you like to travel light and don’t want a wallet that bulges out of your pocket, bifold wallets are probably a good choice.

A word on material when it comes to billfolds: Since you’re going to be using your wallet on a near-daily basis, you want something that will last and looks good, in that order. Leather is a great choice for both of those reasons. Quality leather lends a touch of class to any outfit, and you can expect it to last for years if the stitching is solid. Vinyl, pleather, cloth or other materials might save you some money but you may regret it later when they tear or come unglued. If you’re going to be carrying that wallet while doing athletics or hiking in the rain, consider one that has a zipper for the main pouch so that cash doesn’t get wet. Remember also that while leather has a bit of natural water resistance, sustained exposure to the elements can discolor or weaken it unless it’s specially treated.

Mind you, billfolds aren’t the only way to store your currency. If you’re really looking to slim it down, you can go with a simple money clip made of metal or plastic to keep your bills and ID together in a tightly folded stack. There are even phone cases with card sleeves built in that can double as a wallet.

No matter what the style, many modern wallets might charge a little extra for radio-frequency identification shielding. This innovation stems from a concern that thieves with high-tech “skimmers” might be able to read sensitive data off the RFID chips embedded in many of today’s credit and debit cards. So far, most security experts agree that the risk of that actually happening is low — but if you feel it’s better to be safe than sorry, the peace of mind might be worth it.

The only time most of us do a little “spring cleaning” on our wallet is when it’s time to buy a new one. Take that opportunity. Scale down the stuff you carry around and you might be able to get away with a smaller wallet.

Most people need just one or two banking cards and their driver’s license on a daily basis, plus a few bills “just in case.” Consider how often you use anything more than that. If the answer is “rarely,” maybe go with that smaller wallet. You can always buy a card case for the less common stuff, then store it in your glove box. And when it comes to coins, leave them in the car. Nothing wears down a wallet faster than a handful of quarters and dimes jangling around in the pocket.