There's a bag that will stop you from spending money when you shop

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Imagine a bag that will stop you from overspending when you're shopping, or a bag that warns you when you're over your budget or nearing a shopping danger zone (you know, Sephora). Sounds like something Judy Jetson would wear, right? But this bag actually exists and it's on sale now.

Designed by financial site finder.com, the iBag2 uses various alerts to make you put that credit card down. (The first version was announced on social media, but never went into production.) It will flash, vibrate, and lock itself if you try to reach for your wallet. We don't know if we should be in love or completely terrified.

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The iBag2's built-in GPS tracks where you are and what stores you're near—hence the bag lockdown if you go too close to Barneys. If all of this seems a bit too Big Brother to you, there's also a health component: Every two hours an alarm will go off to remind you to reapply sunscreen. You can also charge your phone and other USB devices.

"The iBag2 collects details on every time you take out your wallet, by using RFID cards (Radio Frequency Identification)—the same technology used for security swipe cards," Michelle Hutchison, the money expert at finder.com, told us via email. "One RFID card is sewn into the lining of the bag and another is placed inside your wallet. When your wallet leaves your bag and is a certain distance from the other card, the computer at the base of the bag records these details." However, Hutchison says your data is completely safe and isn't sold or used by anyone else. And she assures us that "there will be security measures in place to protect user information to prevent hacking and keep user info safe. The bag doesn't collect bank details either."

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But we have to wonder why anyone would really need this bag. If you need a gadget to keep you from opening your wallet, then perhaps it's time to work with a financial planner and be serious about your cashflow and budget. And the whole alarm thing kind of freaks us out. (Though we admit, it's better than the Living Wallet, which literally runs away from you if you spend too much.) While it's great to have technology help us with saving, shelling out $5,000 for this doesn't seem like sound advice to us. (FYI, that's how much a Chanel bag costs and that one's an investment piece, at least.) And if you're still interested, the company is releasing a men's version of the bag in December.

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