An MIT project aims to help people regulate their spending habits with three new wallets that provide tactile feedback in relation to the consumer’s bank account. Dubbed “Proverbial Wallets,” MIT has created three prototypes with different methods to help consumers regulate their spending.
The “Bumblebee” buzzes through a vibrating motor whenever the consumer’s bank processes a transaction, with bigger purchases creating longer buzzes. The “Mother Bear” has a hinge that makes the wallet difficult to open, which can be linked to a monthly budget goal. The “Peacock” deflates based on the amount of money in the connected bank account, and in an odd design choice, actually inflates if the account is full of dough, most likely making the wallet more obnoxious the richer the consumer is. The Proverbial Wallets connect to the consumer’s cellphone via Bluetooth, which in turn, connects to the consumer’s bank account.
A wallet that provides a reminder of one’s current financial situation is actually a neat idea to help curb needless spending (or remind people of their monetary woes!), but the “Peacock” design is a little weird, turning the wallet into an obtrusive object sitting in the holder’s pocket: The more money you have, the more it’ll annoy you! Maybe the guys over at MIT are believers in the Notorious B.I.G. school of philosophy.
Have a tip we should know? [email protected]