Australian company Credit Card Finder develop a purse that could keep the most ardent retail shopper from splurging.
Some people just can’t help themselves when they enter a store, buying everything in sight only to regret their decision when the credit card bill is due. While there are several ways to deal with the psychological root of the issue, the iBag proposes a more cold-turkey methods of dealing with the retail addiction.
Developed by Australia-based Credit Card Finder, this GPS-enable purse was created to highlight the growing spending problem in the country. A survey taken by the company found that 2/3 of credit card holders spend more than $500 every month on their credit card and 45% do not pay off the full balance. The purse was a publicity-stunt-esque way of making a point of the growing problem.
The bag is programable to help you avoid the stores you spend the most by locking during periods of most frequent shopping. It uses the GPS to warn you when you’re getting too close to a favorite shop and will send a text message to a trusted person to let them know you’re spending. If there’s enough demand for the product, the iBag will be available for both men and women at $199 AUD ($173 US). The company warns, however, that it may not be the ideal solution for every shopaholic.