Introducing iBag2: Australia's first programmable IOT handbag designed to help curb impulsive spending
iBag2 tech, functionality and design
- Is your spending out of control?
- Do you struggle to say “no” when out at the mall?
- Not prepared for unexpected bills?
- Sick of borrowing money?
Say goodbye to impulsive spending with the iBag2. An extreme wearable device to help you curtail your spending.
If you can’t be trusted at the shops, here’s a bag that won’t give you the benefit of the doubt. The iBag2 will tell you “NO” if you’re not able to say it to yourself.
The iBag2: A wearable to curb spending like never before
Physical cues like lights, vibration and self-locking help remind shoppers of their spending goals when they’re most vulnerable. Powered by an Arduino Uno microprocessor and a 10,000 mAh power bank, the handbag features six distinct components:
- A timer connected to electromagnets that lock the bag according to your most vulnerable spending moments during the course of a day;
- An RFID system connected to LED lights and vibration motors, which light up blue and vibrate each time your wallet is taken out as a discreet reminder of spending goals;
- GPS tracking that warns you via amber lights and vibration when you are nearing one of your pre-programmed vulnerable spending zones;
- The locking function turns on if you proceed to enter your danger zone;
- A reminder every two hours via yellow lights and vibration that it’s time to reapply sunscreen; and
- A bluetooth tracker Tile that will alert your phone through an app if the bag is a certain distance away from you.
Learn more about the iBag2
iBag2 development in action
Australia’s credit card bill is getting bigger, with a new record of $52.22 billion as at June 2016, according to the latest Reserve Bank data analysed by creditcardfinder.com.au.
This comes as no surprise, as research commissioned by creditcardfinder.com.au, surveying 1,078 Australians in April-May 2016, found that Australia’s credit card habits have worsened.
It revealed eight in 10 (79%) credit cardholders make unplanned purchases each month, averaging 4.11 purchases per month. Alarmingly, almost one in four (23%) don’t pay off their balance in full each month. There are over 16.5 million credit cards in circulation in Australia, according to Reserve Bank data, which means there are an estimated 3.8 million cards paying unnecessary interest.
State by state
Cardholders in New South Wales (NSW) are the biggest impulsive spenders, making on average 3.6 unplanned purchases on their credit card each month. It was followed by those in Queensland (QLD) with 3.4 unplanned purchases on average per month, then Victorians (VIC) with 3.3. South Australia (SA) and Western Australia (WA) had the most responsible credit card spenders, making 2.8 unplanned purchases on average per month.
Frequently asked questions
Who did finder.com collaborate with on the design and build of the iBag2?
How does the iBag2 differ from the original iBag?
When does the iBag2 go into production?
Will you be releasing a bag for men?
Who is finder.com?
Best of all, finder.com is completely free to use. We’re not a bank or insurer, nor are we owned by one, and we are not a product issuer or a credit provider. We’re not affiliated with any one institution or outlet, so it’s genuine advice from a team of experts who care about helping you find better.
finder.com launched in the U.S. in September 2015 and is privately owned and self-funded by two Australian entrepreneurs – Fred Schebesta and Frank Restuccia – who successfully grew finder.com.au to be Australia's most visited personal finance website.
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Meet iBag2 Designer Geova Rodrigues
Geova Rodrigues is a Brazilian fashion designer based in New York City. His hand-made designs feature a mixture of different fabrics, textures and embellishments that he combines to create beautiful and unique pieces.Born in Barcelona in the northeast of Brazil, Geova started out as a painter in Sao Paolo, with his art shown in numerous galleries and museums. It wasn’t until he received a gift of an old sewing machine from a friend that he started working with clothing.
Geova arrived in New York City in 1992 and launched his first fashion collection in 1998, trading the world of fine art for that of fashion design. His studio, Geova Atelier, located in the heart of the East Village at 208 Avenue B, New York City, has been open to the public since 2001.
Geova’s designs have been featured in New York’s Fashion Week and recognized by press worldwide, including Italian Vogue, Elle, Harper’s Bazaar, Trace, Surface, Jane, Nylon, The Face, Time Out, Zink, Brazilian Elle and MetroChannel’s Full Frontal Fashion.
The masterminds behind the iBag2's functionality from Colmac Robotics
Colmac Robotics Ltd. is an award-winning Irish Ed-tech business in the field of robotics education. The company was founded in 2013 by Colman Munnelly and Niall McCormick.
Colmac Robotics provides robotics workshops to young people to enable them to be creative, innovative and inspired, while learning important skills in the areas of science, technology, engineering, mathematics, design and computer programming.
The company’s robotic products are designed as both learning aids for teachers and educational toys. They offer a unique way to enrich technology programs in schools as well as fostering creativity and digital learning outside of the school environment.
Colmac Robotics’ newest line of business is its Research and Development team, responsible for designing and building smart technologies for both educational and corporate customers in Ireland and abroad.