Debt levels among young Australians are at a 25-year high, with many having no savings and struggling under increasing costs of living. The SimpleBudget application aims to help those with spiraling debt by providing budgeting tools, financial education, and a supportive community to develop sustainable solutions. It targets young Australian males aged 20-25 and plans to charge a weekly subscription to generate revenue of $16 million by 2015, providing an advantage over competitors by offering motivation, accountability and education to act as an "accountant in the pocket."