Are you guilty of spending too much money?

Aren't we all!

Well a wristband that gives you an electric shock if you overspend could be the answer.

The Pavlok device has been designed by a British firm Intelligent Environments and allows you to link up with you bank accounts.

When you overspend it delivers a 225 volt shock.

The people behind it say it's much better to get a little shock now instead of a nasty one later. 

Here's what it feels like! 

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