iBag: A GPS-Enabled smart handbag that restrains you from over-spending

Credit Card Finder's iBag_1

To our shopaholic friends out there who are floundering in credit card debt, the answer may lie in a handbag-shaped miracle from Australia’s Credit Card Finder, that locks itself up just when you approach your favorite store. The highly perceptive and automated iBag actually aides you in recuperating from financial debt by curbing your spending habits.

The bag has a smart chip fitted in its clasp that records how often you take your wallet out. It uses Radio-frequency identification(RFID) technology via a ‘smart tag’ attached to the wallet, to track the number of times your purse is used. If the frequency seems too high, the bag will alert you by flashing angry red LED lights planted in the clasp itself. If you are still not deterred, it will send a warning text to your phone.

But just when you are about to dig up your wallet, the iBag is programmed to automatically snap itself shut, thereby denying you access to your precious credit cards. That’s not all. The GPS chip will also note the store’s location, so that the next time you are even in the vicinity of the ‘danger zone’, you will be instantly notified on your phone.

This smart self-operating handbag is also equipped with a built-in clock that can easily record the time of the day when you are most likely to give in to your craving. According to its creators, the iBag is not meant to stop overspending directly. In fact, it’s real objective is to effectively make you aware of your spendthrift ways. So at times when you disobey its warnings, the handbag will immediately apprise your ‘responsible other’ through sms.

With $50 billion in credit card debt in Australia alone, the iBag is the perfect nicotine patch for compulsive shoppers. Its price is believed to be $199, although it will be a long while before such a hi-tech handbag will be available for the general public.

Via EFTM

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