People also probably used to be more fashion-conscious with having even relatively bulky bifold wallets in their front pockets. I carry basically a business card holder with significantly less on a day-to-day basis. Maybe $40 and likely about half a dozen credit card sized object things.

I carry a travel folder when I travel but my actual wallet is pretty minimalist. (Though just a phone wallet/pocket doesn't work for me. The Apple magnetic wallet I bought which I was also uncomfortable with depending on was 3 cards--no more, no less.