The money clip, although functional, is also an accessory for men. It holds paper bills folded in half, eliminating the need for a wallet. Most commonly used in upscale society, the money clip might be gold, silver, bejeweled, or engraved.

A money clip is a folded piece of metal that takes the shape of a flat "U". The two ends of the "U" shape press against each other in order to form a clamp to hold the money in place. Money clips are commonly used by men when they don't require carrying a wallet, but want cash on hand. Certain very wealthy men might use a money clip because it is classier than pulling out a wallet, which may have a certain working-class stigma attached to it in upper echelons of society.

Modern money clips have evolved to include an additional breed. Many are now attached to a credit card holder which looks like a small leather wallet. This allows for additional carrying space to house credit cards, ATM cards or business cards. However, this style of money clip is much larger than a traditional money clip. While a regular money clip is about 2 inches x 1 inch (50mm x 25mm), a money clip attached to a credit card holder is roughly three times that size. Yet, this is still thinner and less bulky than most wallets.

A money clip can come in handy for anyone when wearing formal dress, such as at weddings, black tie parties, or other occasions. Accordingly, many professionals opt to use a money clip when in a business setting. If you wish to personalize your money clip, most jewelers offer engraved or monogrammed versions as well as countless other designs. Regardless of which design you choose, a money clip can be a great addition to your wardrobe when a wallet isn't appropriate.