Can CASH Watch Keep You From Impulsive Consumption?

Have you ever just found some stuff and was like: “When did I buy it? This is so expensive and I don’t even need it. I just wish someone could tell me to stop purchasing…”

The good news is, there is a new device called the CASH Smartwatch. It’s aimed toward young women and tells you when you are spending too much money. Once you set up your monthly allowance, you can tap the price tag into the interface every time you make a purchase without the need to use boring spreadsheets. It also has notifications when you go over budget or are nearly that point.

While I find it really helpful to keep track of payments and personal expenses, I question whether it truly keeps you from impulsive consumption (as it claims). In a world where consumerism is so rooted in the history and nowadays marketers and advertiser are making every effort to stimulate you to purchase, is a tiny watch going to solve the problem? For example, take a 20-year-old city girl who enjoys shopping a lot. She might keep in mind to reduce her budget and care about what the watch tells her. But more likely, she will get tired of it. What if she lies to herself that she deserves to spend more this month? What if she intentionally plans not to track down the price? What if she just throws it away? 

Personality, consumer psychology and social trends will not change overnight. In the end, she is going to waste the watch that costs her another $139.