The main objective is to create a security system for wallet based on RFID technology and also keep an account of how much money is coming inside and going out of the wallet which is done using tcs3200 colour sensor by which we can have an account of the amount of money spent and update the same on the mobile app. So, this project basically alerts the person if the wallet is missing from his/her pocket and also shares the location of the same and also gives the information of how much he/she has spent. The major components used in this paper include Raspberry PI, RFID Reader, RFID Tag, GPS Module, and TCS3200 Colour Sensor. Whenever the RFID card is placed near to the reader, the RFID reader obtains the UID (unique key) information about the card. The location of the wallet is obtained using the GPS Module. This detail is notified to user when the wallet is not connected. The status obtained by the RFID reader and the GPS module is collected by Raspberry PI. Using the PI’s WIFI, the details are posted onto the cloud. All the details posted onto the cloud are accessed via the APP and also through a website portal in case of any emergency