Should Men Still Carry Wallets in 2024? (2024)

Should Men Still Carry Wallets in 2024? (1)

Quick answer: Yes, even in this age when cash is losing its popularity and cards and wallet apps are taking over, a good wallet is a must for the sophisticated – and practical – man’s accessories list.

It carries your ID, cash, and any other important cards you might need.

It’s a good idea to get one that gives you RFID protection as well.

Read the finer details below:

Choosing The Right Type of Wallet is Everything

In the old days, a bulky bifold or trifold was the only way to go, but today you can get a sleek, minimalist design that is comfortable, looks great, and carries only what you need it to carry.

Size and Portability

Avoid bulk and weight with a thin, minimalist wallet that holds only what you need it to hold. A card holder like the one below is a great example (link):

Or, if you need to carry a lot of cards and cash, then choose a trifold wallet with a coin purse included (or even a travel wallet to carry your passport too).

Here's a good example of a large wallet (link):

Material and Durability

A classic real leather look complements your style, and lasts for many years.

We recommend full-grain leather, as it's the most durable and stylish (all Von Baer wallets are made from full-grain leather).

We have more details on why we love full-grain leather for wallets here.

Accessibility and Efficiency

Whatever style you choose, ensure that you have quick access to the things you need, and that everything is secure when you don’t need them.

This could include money clips for quick access to cash, or a passport holder if you're a frequent flyer.

Here's a great example of a money clip wallet (link):

Security Features

RFID blocking technology will protect you from cyber-thieves, and a low profile wallet will protect you from traditional pickpockets.

All Von Baer wallets come with RFID blocking features (shop them here).

Pros and Cons of a Wallet

Digital Shift vs. Traditional Elegance

Should Men Still Carry Wallets in 2024? (5)

The need for a traditional, larger-sized wallet is diminishing as we rely more on digital means of paying for things.

Smartphones and watches can do a lot of what wallets used to do, keeping ID, payment information, loyalty cards, and transit cards safe for use when needed.

However, we do need cash sometimes and physical ID sometimes, and we can always use a touch of style and sophistication, so the traditional wallet still has a place in the successful man’s wardrobe.

Everyday Necessities and Digital Limitations

Consider the possible times when a digital solution won’t work. What if a terminal is down, a battery dies, or a phone is lost or stolen.

The issue doesn’t have to be something under your control; a store may have a technical problem that has nothing to do with you, but if you don’t have a little emergency cash on hand, you might be out of luck.

Likewise, if you need ID to pass into a secure area or prove who you are to authorities – a wallet comes in very handy then.

Durability vs. Cost

Should Men Still Carry Wallets in 2024? (6)

A high-quality wallet will cost more than many other options on the market, but this is for good reason. The superior quality not only gives a better user experience, it also lasts a lot longer, which stretches your money out over a longer period of time, giving you more value in the long run.

Not only do they last longer, they look great for the whole time too, whereas lesser wallets will get ratty and worn looking.

We discuss the best materials for a wallet here.

Security Features vs. Risk of Loss

Use RFID blocking technology to protect yourself from data and identity theft. This kind of theft can occur without a thief even touching you, and you might not know about it until well after the fact.

Using digital currency, like a wallet app on your smartphone, can reduce your risk as well.

Emotional Value vs. Practicality

The emotional benefits of a good wallet, however, are also worth considering. Each time you handle it, you’ll get a little boost of luxury and joy in your day.

It might not be as practical in some situations, but then, lots of the best things are not the most practical. That emotional value is worth more than we give it credit for.

Investment Potential vs. Changing Trends

Some high-end wallets become collectible items, actually increasing in value as time goes on, but that’s not guaranteed.

Trends move and changeand are not very predictable, so consider first the other benefits of owning a wallet and only then consider potential investment value.

We discuss how much a man should pay for his wallet here.

Unexpected Situations vs. Everyday Convenience

There are times when it is very much to your benefit to pull out a business card and hand it to a potential client or partner.

Digital data may not get lost, but it can also remain hidden and forgotten – a beautiful card, kept pristine in a wallet, provides the presentation and the physical reminder that you may want your potential client to have.

And of course, if there is an interruption in the digital commerce world, a little cash solves the issue.

Should you always carry cash? Read our thoughts.

Summary

The choice to purchase a wallet is a practical one, and an emotional one.

You’ll need to factor in your own values and style, and decide if one is right for you.

At Von Baer, we might be biased, but we love a good leather wallet, and won't be giving them up for e-wallets any time soon.

Should Men Still Carry Wallets in 2024? (7)

Author: Igor Monte

Igor Monte is the co-founder of Von Baer. He's an expert in all things premium leather, from being an end-user right up to the design and manufacturing process. His inside knowledge will help you choose the best leather product for you.

Should Men Still Carry Wallets in 2024? (2024)

FAQs

Should Men Still Carry Wallets in 2024? ›

Quick answer: Yes, even in this age when cash is losing its popularity and cards and wallet apps are taking over, a good wallet is a must for the sophisticated – and practical – man's accessories list. It carries your ID, cash, and any other important cards you might need.

Do you carry cash in 2024? ›

Although many people still say cash is king, diversifying payment methods with a mix of credit or debit cards and digital wallets gives you more flexibility. This approach ensures you're prepared for various scenarios where you might need to make payments and also means you don't need to carry large amounts of cash.

Does Gen Z not carry wallets? ›

Gen Z uses their phone as their wallet,” she continued, “so they have all their [money and] their IDs in their [digital] wallets.” The baby-bumping blond announced the anti-pouch trend to fellow over-the-hill folks in a buzzy TikTok bulletin with 168,000 views and counting.

Should men still carry wallets? ›

Quick answer: Yes, even in this age when cash is losing its popularity and cards and wallet apps are taking over, a good wallet is a must for the sophisticated – and practical – man's accessories list. It carries your ID, cash, and any other important cards you might need.

What is the future of wallets? ›

Augmented Reality (AR) and Virtual Reality (VR) Applications: Digital wallets could incorporate AR and VR technologies to create immersive shopping experiences, allowing users to make purchases within virtual environments or through augmented reality interfaces.

How much cash should I have in my wallet in 2024? ›

In addition to keeping funds in a bank account, you should also keep between $100 and $300 cash in your wallet and about $1,000 in a safe at home for unexpected expenses. Everything starts with your budget. If you don't budget correctly, you don't know how much you need to keep in your bank account.

Should I be in cash in 2024? ›

For goals one to two years away — or even three to five years away — it makes sense to allocate cash to make sure the money is there when you need it, according to Cox. "But anything beyond five years, I would seriously consider putting that money into stocks or other more risky assets," Cox said.

Why don t Millennials carry cash? ›

Millennials (respondents aged 18-35) were also 41 percent more likely than any other generation to deem paying for something by cash as 'inconvenient', and the least likely to describe having cash as 'very necessary'. They were also the most likely to feel they would spend cash if they had it on them.

What is Gen Z struggling with the most? ›

Gen Zers are having a harder time making ends meet, let alone building wealth. Roughly 38% of Generation Z adults and millennials believe they face more difficulty feeling financially secure than their parents did at the same age, largely due to the economy, according to a recent Bankrate report.

How to live without a wallet? ›

Smartphones have digital wallets that enable you to upload your credit and bank cards. Once you do, you select the account you want to use for contactless payments. You can also link PayPal, Venmo, Zelle and a host of other payment apps to your credit and bank accounts and use them to pay for things.

What are people using for wallets? ›

For consumers using digital wallet apps, 69% of respondents stated they used PayPal the most, making it the most popular option. According to our study, the next most popular mobile wallet payment options are Google Pay (56%), Apple Pay (53%) and Samsung Pay (52%).

Should you buy a man a wallet? ›

When you give a man a wallet, it's a subtle sign that you value the relationship and are invested in his future. No wonder it makes for one of the best gifts for men. The emotional connection between a man and his wallet goes back a long time.

Do people not use wallets anymore? ›

Many people now prefer to use their smartphone to manage their finances, and it seems like real wallets are becoming a thing of the past. However, there are still some limitations to online transactions – and if you get caught out without your device, you'll certainly be grateful to have your wallet to hand.

Are big wallets out of style? ›

Some of our wallets are larger, designed for carrying a lot of cards, cash, and other items. But one thing that is fairly clear is that there is no longer a need for a “big wallet” anymore. There are many slim wallets with plenty of space, and many other items that you can probably leave at home or digitalize.

Is it common for people to lose their wallets? ›

If you've ever reached into your pocket, only to find your wallet isn't there, you're not the only one. According to a survey by MoneyTips, 62% of the people who responded to their survey have had their wallets lost or stolen.

What percentage of lost wallets are found? ›

You're better off losing wallets in some places than others.

About four in five of those items never saw their owners again. Transport for London told me that the owner-reunion rate for lost wallets and purses in Fiscal 2021 was 22.6 percent.

Do people still use big wallets? ›

Some of our wallets are larger, designed for carrying a lot of cards, cash, and other items. But one thing that is fairly clear is that there is no longer a need for a “big wallet” anymore. There are many slim wallets with plenty of space, and many other items that you can probably leave at home or digitalize.

Where do people usually lose wallets? ›

Start by checking cars, jackets, restaurants, offices — any place where you might have misplaced your wallet rather than lost it. If you are certain it's lost, it is time to start protecting your accounts and keeping an eye out for the signs of identity theft.

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