A personal item tracking and monitoring system is herein disclosed, comprising a transmitter unit and a receiver unit. The transmitter unit is a relatively small unit attachable to an object, particularly a mobile telephone, that emits a radio frequency coded signal to a receiving unit carried by a person. The transmitter unit is of a small size relative to the object and is attached to the object by use of a fastening means. The receiver unit is envisioned to be the size of a key fob typically used to wirelessly lock and unlock the doors of a motor vehicle. As such, the receiver unit is envisioned to be carried on a ring of keys, carried in one's hands, carried in a pocket, purse, or briefcase, worn upon a belt, or a similar manner. The receiving unit allows a user to adjust and set an allowable distance between the object and the receiver unit using a range selection control. If the object is located farther then the allowable distance the user is alerting by an audible or visual warning signal. In such a manner, the user may take immediate corrective action to retrieve the object, thus silencing the alarm.