London, Nov 19: Young people who want to keep themselves free from debt can use the newly introduced device, Spendometer.

The device, which is available from website moneybasics.co.uk, enables mobile phone users to budget via their handsets.

For using the device, the mobile phone users need to enter their target maximum weekly spend, which can be divided into categories such as lunch, clothes and alcohol.

Any amount of money spent is then entered by category and the device sends a text message alert if the users exceed their spending limits.  

"By making money management easy with mobile phones, we hope to help millions to keep better control of their money," Scotsman quoted Malcolm Hurlston, chairman of the charity Credit Action, as saying. (ANI)