This paper is mainly focused on the low cost technique to measure both AC and DC voltage along with current by using very low cost components. The system can also be easily monitored via a smartphone. The work is intended for the engineering students as most of the Voltmeter/Ammeter is very expensive. Not only that, the acquired data can be stored as per the requirements. New features can be added very easily with this ammeter/voltmeter as well. Whole task was implemented with the help of popular micro-controller ATmega328p to reduce the cost.