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We all makes budgets of our earnings before Spending but it is very tough or sometime impossible to stick to that budget. So is there any way to control our spending as per our budget? Yes, iBag2 IoT enabled High-Tech Handbag will curb your Impulse Spending. Think if your bag controls your finances by locking shut when traveled near to your favorite store, keeping your wallet tucked away from waste. This is amazing way to control our expenses and handle our finances perfectly.
iBag2 is an IoT enabled handbag launched by a personal finance website, finder.com. iBag2 is a purse which handles your finances and helps you to curb your spending. It have all kind of tech like GPS, LED lights, computer module inside which will help to stop impulsive shopping.
iBag2 featuring tech developed by Dublin-based Colmac Robotics with a design by New York-based Geova Rodriguez, lock itself to prevents its owners taking their purse out of the bag if they are near to a danger spending zone.
As per Fred Schebesta of Finder.com, iBag2 can actually analyze your spending habits. iBag2 could exactly figure out when anyone is most likely to be susceptible to spending, then you can program your bag, you can program geographic location or time of the day that you are most susceptible to spend. In the result of this programming what will happen is that when you start wasting money it will physically close with electromagnetic magnates so that you cannot take out your wallet out of your iBag2. LED lights inside the bag are also designed to give a visual clue to remind you when you are in danger zone.
iBag2 will come with a wallet that has a built in RFID card which you can place inside owners bag to recognize when and how often that wallet is taken out of the iBag2.
You could also program number of times you take in and out your wallet from your bag. Once that count reached your bag will automatically locked. It gives reminder after every two hours via yellow LED lights and vibration that it’s time to reapply sunscreen. Another important feature is that inbuilt Bluetooth tracker tile will sends alert to the user’s smart phone through an app if your bag is certain distance away from you (in case of theft).
Don’t worry about battery backup, it will come with a fast charging power bank with a battery capacity of 10,000 mAh with two USB ports, one for charging smart phone and other is for your bag.
Is iBag2 Necessary?:
First question that could come into the mind is that why iBag2 is necessary? Yes, it is very necessary to curb our impulsive spending.
According to United Kingdom card association, shoppers in UK owe over £63.3 billion in credit card debt, up by £2.3 billion in 2015 as compared to the previous year. Approximately 55-60% credit card debt is accruing interest worth £36.7 billion. As per study, the British credit card holders spend £43.2 billion on impulse spending using plastic – most of the items are not even necessary. So, to stop such kind of impulse purchasing this bag could play a major role.