Your Wallet Speaks Volumes

The way you handle your day-to-day cash speaks volumes about your money personality, according to personal finance experts. Here's the article I read.

Money's there ... somewhere --
You have money in your wallet, but you never have any idea how much. But who cares, if you can't find it or can't find enough, just whip out one of your many credit cards or debit cards.
People who don't know how much money they have in their wallets may also be unaware of what's in their bank accounts or even their pension funds.

These people may be afraid to see what the reality of their financial situations is. They may be tempted to overspend or even pull out a credit card if they aren't aware of how much they have available.

Keep a written tally of how much money you have (and how much you owe) to get comfortable with your financial situation.

Running on empty --
Your wallet is usually empty because you can't seem to keep cash in it for long. No matter how many times you go to the ATM, you'll find yourself staring into an empty wallet again very soon and wonder where the money went.

Similar to the person above, this is the person who is making money but they have no idea where it's going. However, unlike the above personality type, this person likely wants to know where the money is going and may be frustrated by an inability to stop spending.

The key to changing is to start paying attention to the things you do, your spending. Monitor your spending patterns and keep a notebook if necessary. Set a target timeline to know your spending and how to reduce it.

Chaotic cash --
The bills in your wallet are all crumpled up and in no particular order. There's change in the bottom of your pocketbook or even in the floor of your car.

Someone who treats money cavalierly often does not respect money or may not even care about finances. One who leaves money around are suggesting it's not important enough to put it in a safe and protected place.
The key to changing this behavior is recognizing the buying power of the money you've been discarding. Try adding up all of the miscellaneous bills and coins on a regular basis. You might amass enough money to start giving your "spare change" a little respect.

Unruly receipts --
Your wallet is stuffed with receipts, but there's no sense of order to them and you never really do anything with them. This is the person who is trying to keep tabs on their money but can’t take the next step to get them organized and do something about it.

You are like the person that buys all the latest exercise equipment but doesn't get around to using it. In order to change this behavior, you've got to get organized. Take a day to come up with a filing system for your receipts so you know what to do with them at the end of the day. If you're never going to use the receipts to track your spending, what's the point of keeping them in the first place?

File-folder funds --
All of the bills in your wallet are lined up from largest denomination to smallest (or vice versa). You have an idea of how much money you have at all times and you know what's available to spend.

These are the people who have a firm grasp on how much they are spending and how much they are saving. Such people probably have good financial habits. Be sure to also allocate some money for enjoyment/fun.


Identifying what your behavior is telling you about your beliefs about money is only the first step. Continuing to monitor your financial habits is key. Make note of the changes you make to your behavior as well as the times you fall short. One of the biggest mistakes people make is they think, “now I have this new wisdom about my money life and therefore my problems are solved”. Change takes time, but the moment you have a new awareness about what was driving your money behavior, your thinking begins to shift.

(source : http://finance.yahoo.com/banking-budgeting/article/104431/What?)