Smart handbag helps curb compulsive spending


The new iBag is a smart purse equipped with a few features to keep women from overspending.

The handbag looks like your average women's accessory, but it has a radio sensor, a GPS tracker, and the ability to trigger a lockdown that seals it shut.

The Australian company created the bag to stop women in their tracks when they are about to spend too much money.

The purse's technology tracks each time the wallet is taken out and replaced in the bag. The GPS feature can warn women with flashing LED lights when they are close to their favorite stores.

If someone's habits raise a digital red flag, the purse will text a "responsible other" to warn them what's about to happen.

Those interested can register to pre-order an iBag on the website for $199. The company says if there is enough interest, they will go into production.

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