Proverbial Wallets Protect You from Going Over Budget
Michael Hines — December 8, 2010 — Tech
References: media.mit.edu & gizmag
The Proverbial Wallets are a set of three wallets designed to help keep you within your budget. The Proverbial Wallets communicate via Bluetooth with your cell phone to track your finances digitally.
The Bumblebee buzzes whenever a withdrawal or deposit is made into your account. The Mother Bear features a clasp that makes it harder to open the wallet as you approach your monthly budget. The Peacock grows larger when you have money and shrinks smaller when you don't. Check out the video to see the Proverbial Wallets demoed. I personally think the Mother Bear would make a great gift.
The Bumblebee buzzes whenever a withdrawal or deposit is made into your account. The Mother Bear features a clasp that makes it harder to open the wallet as you approach your monthly budget. The Peacock grows larger when you have money and shrinks smaller when you don't. Check out the video to see the Proverbial Wallets demoed. I personally think the Mother Bear would make a great gift.
Trend Themes
1. Digital Budgeting - The Proverbial Wallets utilize Bluetooth technology to track and manage finances digitally, highlighting the trend of digital budgeting.
2. Smart Wallets - The Bumblebee, Mother Bear, and Peacock wallets demonstrate the trend of smart wallets that offer innovative features to help individuals manage their finances.
3. Behavioral Finance - The Mother Bear wallet, with its clasp that becomes harder to open as you approach your budget limit, taps into the trend of leveraging behavioral finance principles to encourage better financial habits.
Industry Implications
1. Retail - The retail industry can benefit from the development of smart wallets like the Proverbial Wallets, as they provide a new product category that appeals to budget-conscious consumers.
2. Technology - The integration of Bluetooth technology into wallets showcases the potential for innovation at the intersection of technology and personal finance.
3. Financial Services - The Proverbial Wallets introduce new ways for financial institutions to engage with their customers and offer personalized financial management solutions.
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