What will my wallet look like in five years?
Posted by Trey Reeme on October 30th, 2007
Five years from now, will I carry plastic cards in a leather wallet?
Some context: I already don’t carry cash. My wallet currently includes a few CCs and a debit card, my insurance card, DL and that’s it.
Also, I’d classify myself an early adopter of newfangled technology.
Will I have a wallet at all?
Trey, you will not have a wallet. You’ll have a custom duct tape pouch made by Charlie Trotter for your Apple iSome-Err-Other that does everything including debiting your FORUM account and pacifying your 3rd child!
Haha – I actually carry a duct tape wallet for receipts that George Hofheimer’s son made for me. I keep it in my laptop bag. George also gave me my current wallet – a Mercedes-Benz schwag wallet.
Third child! NOOOOOOO!
I hate, hate carrying cash. Every time I find myself in some establishment whose tiny “CASH ONLY” sign I didn’t read until I’d placed my order, the conversation goes like this:
Cashier: Sorry, sir, cash only. points to sign
Me: I’m sorry, I thought I drove my car here, but I guess it was a time machine instead, where can I find Wyatt Earp?
Cashier: puts on her “What do you want me to do, pal, I’m just doing this to pay for all the product it takes to maintain this Emo haircut?” face
Me: Well, here we are, it seems America’s little Freedom Experiment failed after all. storms out
It’s the little places like locally owned hamburger shops and non-chain convenient stores that require cash only because their transactions rarely go very far over $5 and the transaction fees are cutting into their profit. So, since cc-machine companies won’t likely lower their per-transaction prices, mom & pop need to raise their candy bar prices enough to offset it, so we can kill cash all together. I think those new Visa spots demonizing cash and check users are right on.
Then there are garage sales, which I love. Blast you, emotional & intellectual conflict!
I was thinking about this same thing the other day reading about mobile banking.
I’d bet we’ll be using our cell/mobile phone for everything. Maybe not in 5, but in 10 fo’ sho.
Funny, this turned into a “What’s in your wallet” thread.
I have:That’s it. I never, ever have cash. (Okay, maybe when I’m travelling… but almost never.)
I add my receipts to my wallet in the area that cash is supposed to go, but I shred those after I accumulate about 5 or so.
I don’t understand those guys who carry around superthick wallets. It seems so uncomfortable. And if you lose it, you lose a lot.
Wallets will probably continue being a personal accessory for guys, even if we don’t need them for practical reasons in the (near?) future.
Photo labels fixed. ;)
@jp: Good call. I almost photoshopped some cheap sunglasses on to cover up the weird look I was giving the camera.
You’re right – I may still need the wallet when I go to a garage sale or when I travel and take a taxi, but I’m looking forward to carrying my Gen 5 iPhone and making purchases by holding the device up to a sensor.
Christopher – 10 years does seem more likely. 10 years ago, I’d never been on the Internet, I was debating whether to get a pager or a cell phone, and didn’t have an mp3 player or a digital camera.
Of course the digital wallet does sound cue-cat-ish.
http://en.wikipedia.org/wiki/CueCat
There are two places in our town where it’s “cash only” transactions – one is a discount gas station (I go there alot), the other is a discount grocery store. Unfortunately, small businesses get killed with bank fees on CC transactions and I hate using my debit card for point of sale purchases so I must admit I still carry some cash. I also have those darn member cards in my wallet like Sams, Price Chopper, Staples etc. Maybe in ten years each of them might have a tiny holograph decal to stick on the back of that iPhone.
Oops! I meant a hologram not a holograph.