moneytrackin is a new venture i recently come across after attending a debt conference in London last week. The debt conference aimed at getting the Government to do more about the issue of debt especially within young people was quite an eye opener, check these facts out:

As i write this blog today:

• Consumers will borrow an additional £313m today
• The average household debt will increase by over £13 today
• 330 people today will be declared insolvent or bankrupt
• Bank and building societies will hand out £1bn in mortgages today
• Citizen Advice Bureaus will deal with 5,300 debt problems today
• The average car will cost £15 to run today
• The average home will cost £30 today to run
• Raising a child to the age of 21 will now set you back £23.50 daily
• The price of a typical house will increase by £46 today
• 24.3m transactions worth £1.3bn will be spent on plastic cards today
• £82m will be spent online today
• 1/3rd of all groceries we buy today will end up in the dustbin

So it was very refreshing to see a company launching a service/product where you can actually track what you spend, when you spend and why you spend. Understanding what you spend money on is crucial to managing it. 78% of people spend money each month without keeping a track – imagine a company doing that!

Moneytrackin have just entered into the Business Week Europe Young Entrepreneurs 07 and was setup by 23 year old twins Albert and Victor Martin-Garcia from Spain.

Moneytrackin has managed some $46 million in over $180,000 transactions and support 48 different currencies. Well done lads.