By YOUNG MONEY Staff
10 November 2011

Two young entrepreneurs think they have found the solution to one of the biggest problems of road trips and holiday seasons alike.

As the holidays near, many families are gearing up for rambling shopping sprees from store to store and site to site. While some enjoy it and others dread it, most can agree that keeping track of the countless receipts can prove a hassle at best and potentially expensive, when some lost receipt is the difference in returning broken merchandise.

First coming upon the idea on a road trip that left their car filled with little paper receipts, Sam Fine and Michael Altman of the University of Maryland, College Park realized that consumers needed a way to keep all their receipts in one place.

After a few delays and a lot of brainstorming, the two put together OneReceipt, a web-based app that allows users to store, sort and track electronic receipts as well as photograph of paper receipts in one convenient place.

The pair plan to introduce their new app soon so they will be able to utilize it in time for the holidays. Over time the program will include offers designed to help users save money and specifically tailored to their spending patterns.