What Is a Wallet Reset?
A wallet reset is a short, intentional reset of your spending habits—usually over the course of a month. Instead of cutting everything out or following strict rules, a wallet reset focuses on awareness and small, realistic changes that help you save without feeling overwhelmed.
The idea is simple: for a set period of time, you decide what spending is worth keeping and what you’re willing to pause or reduce. That could look like skipping a few coffee runs, cooking at home more often, or saying no to impulse purchases. The money you don’t spend can be redirected into savings.
There’s no single “right” way to do a wallet reset. You set the rules based on your lifestyle, goals, and comfort level. The goal isn’t perfection—it’s progress.
How a Wallet Reset Works
Choose a timeframe
Most people do a wallet reset for one month, but even a week can make a difference.Identify spend categories to adjust
Look at common discretionary expenses—coffee, takeout, subscriptions, online shopping—and decide what you want to reduce or pause.Redirect that money into savings
Instead of letting the extra cash disappear, move it into a dedicated savings space so you can see the progress add up.Track your progress
Watching your balance grow can be motivating and reinforces the habit.
Using Elevault for a Wallet Reset
Elevault makes it easy to keep your wallet reset savings organized by using Vaults, which are separate savings spaces within your account.
You can create a Vault and name it something like “Wallet Reset” to clearly separate these savings from your other goals. Funds in your Vault earn our current 3.82% APY¹ so your money can grow while it sits there.
Download by scanning the QR code or click here!
Ways to Fund Your Wallet Reset Vault
You can add money to your Vault in a way that works best for you:
Direct deposit: Use your Elevault account and routing number (referred to as a VaultKey) to send a portion of your paycheck directly into your Wallet Reset Vault.
Recurring transfers: Use your Elevault account and routing number at another financial institution to schedule automatic transfers.
Manual transfers: Move money from a linked external account inside the Elevault app whenever you skip a purchase or save extra cash.
Whether it’s $5 from skipping coffee or a set percentage of your paycheck, every contribution counts.
Why a Wallet Reset Can Help
Builds awareness around spending habits
Encourages saving without extreme budgeting
Helps create momentum toward long-term goals
Turns small daily decisions into measurable progress
A wallet reset isn’t about deprivation—it’s about choosing where your money goes.
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Our support team is happy to help! Reach out to us by clicking the green chat icon at the bottom right of your screen, email us at support@elevault.app, or by calling (844) 439-9258.
¹ Interest rates are variable. Elevault's 3.82% Annual Percentage Yield (APY) and 3.75% interest rate is accurate as of 12/13/2025. Balances above $250,000 do not earn interest. Interest is paid daily. For more information about our rate changes and calculations, please contact us or see our Terms & Conditions.