As most of financial helper in the market are not as effective as they are, they are all passive saving tracker, so for this artifact it is a active saving helper where it is like a gym trainer who always get track on your workout plan and being harsh if you did not hit the goal.
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Other than social shopping, what happens if people shop alone? Are they more likely to go impulsive shopping? MIMO is a device that works with a phone app and a bank (idealy...). It will track your location (if you allow it to do so), and once you stay inside a mall or a retail store for too long, a notification will keep popping up.
Your MIMO will keep tracking your monthly spend; it will make sure that you won't bump into the credit debt problem. MIMO will be harsh to you if you exceed the monthly saving goal you have set in the app, but if you reach your goal, MINO will treat you nice. The design of the eyes will be replaced by an LCD panel that will allow MIMO to have more expression.
You will need to link MIMO to your phone and allow it to receive your location information and pair it with your bank account (imagine if this is a money saving device for the client of TD Bank, RBC Bank, Scotiabank, etc.) Once all the setup has been done, MIMO will be your money-saving buddy; and he will know when you are around a mall or a store.......
If you want to start saving up for your retirement or emergency funds, self-restriction is always hard. Imagine if you have a money-saving buddy, who is strict on you if you break your rule, but treat you nice if you keep your goal up. You know, there is always someone who helps you get on track with your money and a sense of security, that you know MIMO will help you plan out your money spending blueprint.