1. Create a new local PST file and a local Personal Folder.
a. Highlight Inbox, and scroll the Folder list to the bottom, find the "Data File Management…" link.
b. Click on it. And click the "Add" button in the "Data Files" tab of the pop up "Account Settings" window.
c. Select the right option, and then click OK.
d. Define where you want this local PST file to be. And you can also name the PST file.
e. And then name the local personal folder which will be using the newly created PST.
f. Once done, you'll find there is a new local Folder in the Folder List of your Outlook.
2. Move some emails in your Inbox folder, Send Items, Drafts and all other folders into the newly created personal folder.
3. Use Email Rules to redirect some emails to the local personal folders instead of leaving them in the Inbox.