A British has developed a new to help us save money. The product is a wristband that gives us an electric shock if we spend too money. The wristband is called Pavlok. It is linked to our bank . It knows how much money we have in the bank. If we go and there is not money in our bank account, the wristband delivers a 255- electric shock to our wrist. This warns us not to overspend. The company is called Intelligent Environments. It wants to work with to help customers with their money. So far, no banks in Britain have said they would offer the Pavlok to their . They could start doing this in the .
The Pavlok wristband is of the Internet of Things. This is the that everything in our life will be connected to the Internet. The CEO of Intelligent Environments, David Webber, said people liked the of the Pavlok. Shoppers would rather get a electric shock in the store from the wristband than get a big shock when they see their credit card . Mr Webber said the Pavlok would be for people who cannot stop spending because they have no or their willpower is . He added that many young people suffer from the "ostrich effect". This is when people stick their heads in the and buy things rather than look at how much money they have in their bank.