By Laura Woods
WWR Article Summary (tl;dr) Laura Woods takes a look at the five items commonly found in wallets. If any of these 5 are in yours, find out what these items could mean for you and your financial future.
You carry your wallet with you everywhere.
It contains the life essentials needed to get by when you’re not at home.
The necessities inside a wallet are different for everyone. On the surface, the contents of your wallet might seem like a simple matter of preference, but they can serve as a key indicator of your money habits. If you’re trying to be more responsible with your finances, it’s time to take inventory.
Develop better money habits by being cognizant of what you’re toting around in your handbag or back pocket.
The following five items are commonly found in wallets; if any are in yours, find out what these items in your wallet could mean for you and your financial future.
EXPIRED GIFT AND CREDIT CARDS
Your money habits likely need some fine-tuning if you’re carrying around expired gift or credit cards. Chances are, you don’t even know these useless items are in your wallet.
If you’re not in tune with your wallet, it’s safe to assume you probably don’t have a solid grasp of your finances. Be honest with yourself: You don’t remember the last time you checked your bank or credit card statements.
Consequently, you’ve probably overdrawn your checking account at least once or twice, and you’ve likely racked up a bit of credit card debt.
Developing better money habits is much easier than you think. Start by clearing the clutter from your wallet at least monthly, and when you’re done, review your bank and credit card statements. Being in the know with your finances is the first step toward developing better money habits.