Track Every Coin you spend save on expenditure

Track Every Coin you spend, save on expenditure

Trackeverycoin.com helps you out in planning for a better living with conscious spending

Usha Prasad

Wednesday, June 24, 2009

BANGALORE, INDIA: Are you worried about not planning your financial life? Do you fear what will happen to you because of the economic recession? Does your shopping splurges keep you up at night? Do you find it difficult to settle expenses with friends after a holiday together? Do you worry how long it would take to save for your child's education?

Then TrackEveryCoin (trackeverycoin.com) is here to help you out in planning for a better living with conscious spending.

Track Every Coin, which will launch its services in mid-July 2009, has made an effort to help you get answers to the above questions which bugs each one of us in different stages of our lives.

An initiative of Bangalore-based IONLAB, TrackEveryCoin helps you plan your expenses, reimbursements, income, goals, budgets, events. The project is funded by Government of India. IONLAB experiments with new ideas and converts them into useful products, whether they are in the form of electronic gadgets, mobile applications or web applications.

“Managing day-to-day expenditures is not an easy thing. There is no proper mode to get financially organized. In order to enable people to handle their finances in a better way and make judicious planning of their expenditures, the team at IONLAB embarked upon launching TrackEveryCoin,” says Vikram V Chadaga, CEO of IONLAB.

Track Every Coin starts with the very basics of personal finance where it will help you track every coin that you spend and analyze how, when and where you spend your money. It then takes you to the high-level overview of tracking your incomes and the goals you have in life and your progress towards these goals.

Track Every Coin offers two services that helps you get your personal finances in order.

1. Track your expenditure with Mobile Application - Your personal finances on your mobile phone

To enable this application you require GPRS connection on your mobile.

Hos does it work?

- Download the mobile application on your phone.

- Enter your expenses as and when you make them.

- Synchronize with the website through GPRS to upload data.

Now you can see your monthly budgets, know your balance before you spend, analyze data with graphs, know who owes you, set reminders so that you never forget a bill, and much more

2. Track your expenditure with TECI (hardware device) - Your personal finances in a key chain

This application is for those without a GPRS connection. Just connect the key chain, TECI, to your computer and it syncs with the website.

How does it work?

- Just carry a small key chain

- Enter your expenses as and when you make them.

- Know the balance budget for the month.

- Connect the hardware to any computer via USB to sync data with website and it functions in the same way as mentioned earlier.

TrackEveryCoin says the above applications cover the whole range of things. It helps group travelers track expenses during the trip, help housewives set monthly expenditure budgets based on family income, help small businesses where employees can record expenses on the go and all employees become responsible to adhere to their spending limits and it also help students share expenses with room mates/friends etc..

“Two users from the same household can go in for Mobile Application and TECI hardware under one login. There has been very good response during the per-launch phase itself. More and more people are signing up for our applications,” says Chadaga.

IONLAB, which will initially focus on the India launch, is also planning to extend the service in other countries too.

“When it comes to money and financial management, the mindset of people is not way different in different countries. Though there are some tools available in the US, they are not as extensive as ours,” he adds.

So, what are you waiting for? Sign up to track your finances and control your expenditure wisely.

©CIOL Bureau