When we interpret dreams, we need to remember they are more symbolic than literal. Purses are filled with everything from makeup to money. In dreams, they usually represent your personal responsibility, your destiny, and the things that are valuable to you. Makeup can have to do with “foundational” issues (foundation=makeup) issues or personal identity. We also carry our identification in our purses or wallets; therefore, many times it represents our identity.
Wallets and purses are also where we keep our money. Money symbolically can represent favor. Favor means being shown goodwill, kindness, or preferential treatment. Keep in mind also, that money could be a literal anchor to what the dream is about if there are literally money issues being dealt with and the rest of the dream indicates that.
To dream of losing your purse or wallet or in search of your purse or wallet can indicate that the dreamer is having difficulty finding their purpose in life or in a specific area of their life. Or perhaps the dreamer is in search of their identity or their purpose in life.
Losing a purse or wallet may also represent that the dreamer may have lost favor or they are hoping to find favor. Be cautious interpreting this scenario as favor unless there are issues or concerns about money involved in the dream. Money is the key indicator relating to favor.