The bag that won't let you spend

Just Think that a handbag that locks you out when it thinks you are overspending is a pretty good idea..isn't?

The brainchild of Australian comparison site Credit Card Finder, it uses an Arduino processor and an RFID (radio-frequency identification) tag, which are mounted in the base of the bag to track your credit card spending.

The bag is also fitted with a clock and can be programmed to stay closed at your most vulnerable times of day.

When you enter a shopping "danger zone" the bag lights up with an LED warning light triggered by a GPS chip. You can also nominate a person to receive a text message if you have a spending relapse.

"It is designed to help people who are really out of control with their spending," says Michelle Hutchison.

The cost of the bag may trigger some warning signals of its own - at 199 Australian dollars ($179, £107) it isn't cheap.

Members of the public are being asked to register interest. The firm says it will only put it into full-scale production if there is enough demand.