iBag2 to curb impulsive spending by shopoholics
You can’t have enough when you shop and regret when the credit card bill pops up? A personal finance website, finder.com, has launched an IoT enabled handbag, that claims to curb impulsive spending by shopaholics. Being called the iBag2, the handbag was first introduced in Australia two years back, and is now seeing the light in a new enhanced and evolved avatar.
Comparatively the improvements have been made in design and technology of the iBag2; for instance, the original iBag does not feature the iBag2’s self-lock mechanism when entering a shopping danger zone. Instead, the original only locks at specific vulnerable spending times. Other upgrades include a more powerful microprocessor, electromagnets, couture design, bluetooth technology and sunscreen application reminder.
iBag2 says ‘NO’ to impulsive spending
This purse claims to conveniently curb the amount of spending of shopper. It has an inbuilt computer module, Bluetooth, GPS tracker, LED lights, vibration motors and inbuilt IoT chips to guide the customer from making impulsive purchases. The bag analyzes the spending habits and chalks out where to stop the customer, as it automatically locks itself when the shopper enters a ‘danger zone’ while shopping. Michelle Hutchison, Money Expert at finder.com said, “The iBag2 is one possible solution to impulsive spending as it features in-built technology to make shoppers aware of their spending urges in the moment and can even physically deter them from accessing their wallets when they are at their most vulnerable by self-locking.”What is inside the bag?
- A timer connected to electromagnets that lock the bag according to a shoppers most vulnerable spending moments during the course of a day.
- An RFID (radio frequency identification) system connected to LED lights and vibration motors, which light up blue and vibrate each time the wallet is taken out as a discreet reminder of spending goals.
- GPS tracking that warns the shopper via amber lights and vibration when they are nearing one of their pre-programmed vulnerable spending zones.
- The locking function turns on if one proceeds to enter their danger zone.
- A reminder every two hours via yellow lights and vibration that it’s time to reapply sunscreen.
- A bluetooth tracker tile that will sends alerts to the user’s phone through an app if the bag is a certain distance away from you (incase of theft).