Sunday Times 2
Smart handbag locks wallet when it thinks you need to stop shopping
A new hi-tech handbag claims to be able to curb the spending of shopaholics.
Called the iBag, it uses a smart sensor on the owner’s wallet to track their spending.
If it detects a shopping spree, or the owner walks into their favourite store, it can automatically lock itself.
The iBag was created following a survey commissioned by creditcardfinder.com.au, which found one in four credit card holders don’t usually pay off their balance in full each month.
Michelle Hutchison of the firm said the iBag is designed to help people who can’t control their spending.
‘Many Australians are clearly out of control with their credit card spending and don’t realise the financial impact that their impulsive spending has,’ she said.
‘These impulsive purchases really do add up.’ The survey results highlight the need for some card holders to take extreme measures to curb their credit card spending, she said.
‘The iBag hopes to help them with short term debt relief by shutting them out at hours identified as their splurging times as well as flashing and sending an SMS when they enter their ‘danger spending zones’.
However, Mrs Hutchison admitted the iBag may not help all shopaholics.
‘This not a longterm solution for those that are out of control with their spending,’ she admitted.
© Daily Mail, London