Explore IoT to control your expenses!

You all must be using cards for payments or purchasing products via internet banking. Money has come in various forms; one of the biggest reasons of uncontrollable expenses.  Most of you realize that your account is nearly empty by the end of the month. This is the most heart-breaking moment. British Startup Intelligent Environments comes up with a smart solution of bringing an IoT (Internet of Things) banking platform. Interact IoT devices are designed to work with existing IoT devices to curb financial problems. Have a look at these videos below:

Intelligent Environments launches world’s first Internet of Things Bank from Intelligent Environments on Vimeo.

There are two devices that are can help you to reduce your expenses using Interact IoT. First is Nest Thermostat, a device designed to reduce cost of energy. It brings a user defined temperature platform instead of sensors. The second one is a wearable device, Pavlok that gives you a shock if you are spending too much money. Quite interesting!

Pavlok connects with the user’s back account or credit card. You can set a spending limit with the help of this device. If your limit is used up and still you are shopping, Pavlok releases a tiny shock to remind the user about expenditure. With the help of its dedicated app, users can customize, reduce or increase the limit.

Takeaways:

• Intelligent Environments introduces Pavlok, a device that deliver shock to curb over expenses.
• Nest Thermostat is another IoT device that offers users to set thermostat temperature limit. A few degree of changes can put a huge impact no yearly energy savings.