A Shocking New Way To Curb Your Spending

Have trouble controlling your spending?

Maybe you should be fitted with a financial shock collar – or shock bracelet, to be precise.

Intelligent Environments launches world’s first Internet of Things Bank

Interact IoT is exactly that. The new internet tool promises to help people be more mindful of their money by providing, umm, reminders about their expenditures.  Users set a spending threshold for a credit card or checking account.  As that limit approaches, a bracelet on the user’s wrist vibrates.  When the limit is exceeded, the bracelet administers a shock of up to 340 volts!

If you don’t like the thought of getting jolted over one-too-many venti lattes, you can choose other consequences.  Hook up Interact to your Nest thermostat, for example, and program it to turn down the heat in winter to a slightly uncomfortable temperature when you over-spend. This helps both modify your behavior and saves a bit of money to offset your profligacy.

Afraid your spouse will see this article and fit you with a bracelet immediately? Don’t worry.  Interact IoT was created by a British software company that specializes in financial tools.  The platform will initially be offered exclusively through the firm’s client banks, including HSBC and Bank of Ireland – neither of which was implemented to the program.

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