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Wearable Tech

Spending too much? This high-tech handbag locks up your wallet

The iBag 2 concept knows when and where you're likely to overspend.

The iBag 2 takes charge of your spending.

Try as you might, do you find it impossible to stick to a budget? How about letting your bag look out for your finances by locking shut when you stray near to your favourite store, keeping your wallet safely tucked away from splurging?

The iBag2 is a concept design that helps you control your impulse buys. You programme in the places where you can't resist spending and the bag locks tight when its GPS sensors see you're close by. And you can punch in the times you tend to spend too much. That'll stop you splashing out on your favourite stores when you don't have money to spend, or preventing you spending loads, say, during your lunch break. Those lattes soon add up, y'know.

The bag also flashes when you take out your wallet, reminding you to think before you spend. There's also an RFID tracker to make sure your bag doesn't go walkabout without you, and a USB connection with a battery pack to charge your smartphone or tablet as you tote them around. A version for men in also on the cards.

The bag is a prototype by personal finance website It was designed by NY-based designer Geova Rodrigues and put together by engineers from robotics firm Colmac Robotics in Dublin, Ireland. It's powered by an Arduino Uno microprocessor, vibration motors, a timer, GPS, bluetooth, RFID and LED lights.