The Financial Fitbit

in Spending

Mrs. C8j got me for Christmas, a fitbit, which is a nifty little device that tries to track how much physical exercise you have been doing (e.g. how many steps you take, how many stairs you climb, etc.,) and I do like it a great deal. She paid extra and got me the “charge” version, which attempts to track my heart rate as well, and so far it is working quite well. Wouldn’t it be great to have a financial fitbit ?

Surprisingly a few other friends (including Michael James) have versions of this device to track their movements, and there is an ability with the device to set up “groups” where you can compete with each other, to see who takes the most steps or other parameters, and this got me thinking, that maybe a Financial Fitbit might be an interesting device (yes, this is from the man who brought you the financial shock collar).

The Fit Bit Charge

The Fit Bit Charge
(from Amazon Canada)


The device could work in tandem with the Financial Shock Collar, however, let’s look at how the device might actually work:

  • Track spending while you spend. This could be tricky as it should really track all types of spending (cash, credit cards, debit or whatever), and give instantaneous reports if you wish.
  • Have possible limits set up on it, so that you don’t overspend for the day.
  • Downloading of data directly into whatever financial tracking system you’d like like Quicken or Mint

Financial Fitbit Features?

I realize that with smart phones and such, this might do better as part of a smart phone or better still as a part of the touch payment capabilities that are being built into them. Will our smart phones effectively become this kind of finance tracking device? Might not be a bad idea, but I doubt you’d want to share this with your friends in a competitive group, unless you want to play, “Who is the cheapest?” (I know who might win that competition with my friends).

Any other features the Financial Fitbit could have?

 

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