What’s In Your Wallet?
Money May 5th, 2008According to this article posted on MSN Money’s website, it’s quite possible that your wallet may reveal more about your financial situation than you think. They broke it down into these five categories:
It’s in There - You have money, but you don’t know how much you have in your wallet. Mainsha Thakor, co-author of On My Own Two Feet, describes the Ostrich as “People who are afraid to see the reality of their financial situation.” You have your head in the sand about your finances.
Running on Empty - No matter how many times you go to the ATM, you can’t seem to keep money in your wallet and you don’t know where you spent it. This person “likely wants to know where the money is going and may be frustrated by an inability to stop spending.”
Chaotic Cash - Your money is “crumpled up and in no particular order”. You have a cavalier idea toward money and you don’t respect it. I always said money was a woman, if you don’t treat her right and show her respect her, she’ll be gone.
Unruly Receipts - If you keep receipts in your wallet, it shows that you are trying to get a handle on your money, but you don’t know how to get started.
File Folder Funds - If all your bills are turned the same way, you have great financial habits. You know how much money is in your wallet, when your bills are due and how much money is in your accounts.
Right now, my wallet is a mess. I have loose change and bills in my purse (normally I don’t carry cash, but I have a few one dollar bills, I’m rich, lol). I can’t stand a messy wallet or purse, but it does kind of mimic my personal life right now. When I have money all my bills face the same direction, change in its place.
Which one of the above matches your wallet? Do you think it’s a reflection of your finances or it’s just a wallet, it has nothing to do with your financial situation or behavior.
May 5th, 2008 at 6:27 am
I am a mix of several categories - the first, third and fourth - but I don’t think I fit neatly into any of those! My Other Half is definitely a ‘File Folder Funds’ man though, and that is exactly him.
I’m not sure it’s a very accurate reflection of people’s financial attitudes, more whether they are neat and organised or chaotic in general. I’m a messy ‘where did I leave my head today’ kind of person, OH is a neat, orderly, ‘I have a handle on life’ kind of guy. I think your wallet just reflects your personality. That in itself gives you a clue about your financial affairs, I guess, but only in a very general way.
Jay’s last blog post..The Vexed Question of Pillows
May 5th, 2008 at 12:40 pm
I can honestly say that I am a File Folder Funds - If all your bills are turned the same way, you have great financial habits. You know how much money is in your wallet, when your bills are due and how much money is in your accounts.
I am ON TOP of all my money. I know where every penny is and where it is allocated for spending.
meleah rebeccah’s last blog post..A 1st Date
May 5th, 2008 at 2:46 pm
I have to agree with Jay, I don’t think this reflects how you handle your money at all… but just shows if you’re a wallet-slob or not.
My wallet is SUPER neat… which doesn’t reflect my spending habits at all. I’m somewhere between “running on empty” and “it’s in there”… if that’s at all possible!!
Jillian’s last blog post..Facing Facts: When It Doesn’t Fit
May 5th, 2008 at 4:01 pm
Good question!
Normally all of my bills (ones - hehe) are stacked and faced the same way. I have change in the bottom of my purse, but normally empty it out when it starts getting heavy.
There is something to be said about if we respect money or not, but I don’t know if the condition of your wallet has anything to do with it. Maybe….
Barbara Swafford’s last blog post..A Thank You And A Recap
May 5th, 2008 at 6:54 pm
Well, I seem to be all over the place here. I keep a mess of receipts, but in my car. I don’t always know how much money is in my wallet, but I do know that it is all facing the same direction. I think that has to do more with ADD than my financial fitness. I also identify with “Running on empty”… But not all the time. How am I not homeless?? LOL
May 5th, 2008 at 6:55 pm
Oops! I forgot to fill out my name and info and came up Anonymous!
Corrina’s last blog post..When Collagen Attacks
May 5th, 2008 at 8:57 pm
Interesting, generally I (if I ever have cash anymore) have it facing in the same direction. Pet Peeve really. Never thought about the psychology of it all.
May 5th, 2008 at 10:22 pm
What’s up Jay! It’s funny that someone would take the time to organize their wallet, but not their home…not talking about you, but I somewhat by into these studies. Sometimes, I think what’s going on on the outside is a reflection of how you are feeling inside.
Meleah Rebeccah, you’re a woman after my own heart, my eyes are getting teary..I’m so proud. I will say I used to be more on top of stuff in the past, but now…well I could use a few hours on someone’s couch. I did recently clean out my filing cabinet, so it’s all organized, but I have several bags I carry during the week and they are a mess. I just cleaned out my wallet today.
Jillian, I don’t know really…these studies are more interesting than anything….makes me think and wonder why people care about an neat wallet, but not keeping tabs on their finances.
Yeah Barbara, I’m in the ones column too. Most people I know with messy wallets fit the bill. I wonder how much money they spent on this study?
Corrina, just my bags are messy, I can’t ride in a messy car…I don’t know how much is in my wallet right now, most times I have nothing…You’re not homeless because somehow even though you are all over the place, you pull it together and make it work.
Joe, there’s a study for EVERYTHING….which I think is a waste of time and money, but I so love them. Stats, polls, etc…
Natural’s last blog post..What’s In Your Wallet?
May 5th, 2008 at 11:44 pm
wow - hahaha
ok so for me? “It’s In There”
.. big time.
I used to be the one with crumpled cash but now I’m someone who has a bunch of receipts shoved in my bag and wallet. lol thats all I’ve got for ya
and haha to “I’m Rich!”
I know JUST how you feel lol
JEMi @ InMyHeels’s last blog post..What Keeps YOU Young?: An InMyHeels/Lipton FUJI Crosstown Bike Giveaway!!!
May 6th, 2008 at 4:11 pm
It’s not so much my wallet as my purse in general. I always have about $20 in cash and of course my debit card and a regular credit card. I keep the receipts just long enough to come home and have my other half enter them into our budget spreadsheet. I straighten out my money when I’m just riding in the car as a passenger and doing nothing else otherwise, who cares, it spends the same way regardless of how it sits in my wallet.
May 6th, 2008 at 10:07 pm
JEMi, I can identify..my bag is a mess.
Mine too Mamaflo…wow, you always have $20, you’re doing good and are so right, it all spends the same. It’s fun to read though how “wacky” we are about which way our bills are turned and the condition of our wallets
May 6th, 2008 at 10:51 pm
makes me think and wonder why people care about an neat wallet, but not keeping tabs on their finances.
For appearances! I can’t have people knowing I’m a slob.. :-/
Jillian’s last blog post..Facing Facts: When It Doesn’t Fit
May 8th, 2008 at 6:19 am
Oh, gotcha Jillian….I won’t tell a soul. :X
May 8th, 2008 at 11:56 am
Natural,
It’s amazing but chaos externally depicts equally chaotic state in our inner self. If we are afraid to tackle the money issue, it is for the fear of not having enough. It is that void and emptiness that takes our courage away to get back to basics of money management. Great post.
Shilpan
Shilpan | successsoul.com’s last blog post..3 Guiding Principles to Find a Life Long Purpose
May 10th, 2008 at 11:27 pm
I am four of those; guess which ones? Bummer. I think the greatest gift you could give your child is modeling financial responsibility. Unfortunately, neither my husband or I ever had good modeling, and it shows.
Half-Past Kissin’ time’s last blog post..Forever Young at Heart
May 11th, 2008 at 9:02 pm
Hey Shilpan, I totally agree, at least for myself on the chaotic state. Money is funny, people want it, but don’t want to learn how to manage it. It’s more fearful for me not to know…I can deal with broke.
Half-Past Kissin time, I didn’t have any one to each me. My dad was (is) cheap and left us when we were young. My mom worked. I had to teach myself..now I make sure I teach my daughter about money management…knowledge is a wonderful gift.