Crazy Way to Save Money: This Handbag Flashes, Locks You Out, and Texts a Friend When You Overspend

ibag-lightHere’s a crazy invention that we can definitely get behind—because it’s just that wacky. Australian company CreditCardFinder has developed a programmable handbag—it looks just like a normal top-handle black tote—that can help you save money, or, at least, stick to some kind of budget.

The iBag is rigged with an LED, a GPS chip, and lots of other bells and whistles. Linked to your credit card account, the iBag will light up and flash when the GPS sensor indicates you’ve entered a spending “danger zone” (for me, that would be the Bergdorf Goodman shoe department, for example)—and, if the handbag senses you pull out your wallet on-site, it will send an automatic text to a friend—a sponsor-type person that the company dubs your “responsible other.” Ah, a public shaming—that always works.

Culling data from your spending habit patterns, the iBag is also able to go into lockdown mode at certain times of day—when you’re especially prone to splurging. Like, maybe, Saturday afternoons at the mall.

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