Tired of waiting for your friends to pay their share of the rent, pizza delivery, restaurant bill or other shared expenses? Or are you the one who keeps forgetting what you owe?
Let’s face it, trying to keep track of your finances can be a little overwhelming, especially when borrowing and lending money is a normal part of student life. Thanks to a nifty little app called Splitwise however, it’s easy to keep track of money owed between groups of friends fairly, with no confusion and fewer fights over who owes what!
Splitwise is a budgeting application that tracks money owed between any groups of people that share expenses – whether it’s a group of friends, flat mates, or romantic partners. Using the app, you can create different groups and give them names, and track money owed and paid back for different expenses. Because all members of the group are synced on the app, everyone is 100% aware of the expenses that they are responsible for.
How Splitwise will change your approach to student finances:
1. No more fighting about money owed
Say you run out of cash and borrow a couple of hundred from your friend. It’s surprisingly easy to lose track and forget to pay them back. Splitwise organises your IOUs so that you can see them all in one convenient application. This can prevent awkward fights between friends about finances!
2. Easy to keep track of rent and utility bills
When you’re living in student digz, one of the main budgeting issues is shared living expenses. Rent, electricity, water, lights, wifi etc. need to be split between flat mates. Splitwise ensures that a proper record is kept of who has paid their share of the expenses.
3. Splitwise helps you manage your budget!
Planning a night on the town? Or maybe there’s a new T-shirt that you just HAVE to buy. When you use Splitwise, student budgeting becomes easier and more transparent. Using the app to see what you owe and what you’ve spent will give you a better idea about your financial status, and you’ll know whether you can afford to treat yourself or not.
Splitwise allows you to settle debts via Paypal. If you don’t have Paypal, you can just pay in person and record the payment on the app.