Best Expense Manager App for Roommates

In this world of constant expenditure, everyone needs the best expense manager for making their lives easier. Expenses always seem to be on the rise and tracking them is a hectic task. To keep the bills in check, people go out for group meals and live with flatmates who share the household expenditure.

This is especially common among the younger crowd such as young professionals, working class, college students, etc. But that also has downsides such as friction between friends and awkward situations with dues settlement. However, there’s a new app on the block, which is designed specifically for taking away the unpleasant from group meals and trips.

Pros of Splitwise

The Splitwise app is perfect for the roomies who want to be thoroughly fair while splitting bills such as rent, electricity and water checks. It is also the best expense manager when it comes to split restaurant bills and trip expenses. The simple user interface of the Splitwise app makes it even more useful for tracking one’s spending trends as well.

It works quite simply- all you need to do is sign up using your email id or Facebook id and mobile number which is optional. An account is set up for you and you can choose to add your apartment or a group trip, to begin with. While entering the costs with the title and optional description, you can choose who owes you or whom you owe from your contacts list.

For instance, if you dine out with friends and belatedly realise that you forgot your wallet at home, you can easily track the split bill on the go using the best expense manager and send an IOU to your friend right at the table. In the same way, you can go on using the app with your roommate for splitting monthly shared expenses, like the electricity, water or gas checks, cable or Wi-Fi, or even shared grocery expenses.

The Splitwise app has custom settings for splitting bills. For instance, you can enter the sum and split it equally for a group of two or change the settings for splitting the total by shares or percentage for a group of more than two. The app also uses simple stickers alongside the generic titles such as travel, dinner, shopping, etc. This makes it easier to track spending trends in the activity tab super easily with just a look.

Why it’s the best expense manager?

Get notified via friendly emails when the rent check is due for the month and get a gentle reminder when you miss the due date for paying someone back. The app handles groups in the same way by keeping people connected in the old way- emails. This also means that the app doesn’t connect to social media and wouldn’t publish your data online.

The Splitwise app is more like an advanced calculator and hence, it is undoubtedly the best expense manager in your smartphone. Since mixing money and relationships can be awkward at best and really chaotic and stressful at worst, Splitwise takes away the stress of dealing with uncomfortable situations by keeping everyone connected and ensuring fair bill splits. According to the stats, the Splitwise users have shared more than $1 billion across the globe since its launch.

Integration with payment modes

When it comes to settling of payments, the app saves your data and updates your status when connected to the Internet. There is no option of settling dues and debts directly but you can either choose to pay via PayPal, Venmo or Paytm with which Splitwise has integrated.

Other offline and online modes of payment are also viable for the users and you just need to update the thread for closing the group after settlement. Splitwise doesn’t handle any kind of real money by itself. The app works as a record of expenses and thus; is the best expense manager for those who don’t earn much but need to spend quite a lot for a myriad of things.

This app is generally most useful for college students, young professionals, interns and fellows. But others can use it too for keeping a check on IOUs and group trip expenses. The Splitwise app is the best expense manager tool for keeping expenses and friendships right.

Expense Sharing App For iOS – Splitwise App

Bill splitting and group trips or lunches are common among young professionals, trainees and college fellows who don’t earn too much. But the other side of the coin is settling of debts and clearing off dues, which lead to uncomfortable situations and sometimes friction between friends.

Here is an expense sharing app that makes things easy and simple. The Splitwise app is supported by both Android as well as iOS and is absolutely free for installing and using. You can also download the new version of splitwise for iPhone.
splitwise
The Splitwise app is the fairness expert when it comes to splitting bills with custom settings. It works great for long term sharing of expenditure and tracking of bills. You can even use it to settle short term and random IOUs with acquaintances and friends.

You can document any kind of cost overheads or payments on splitwise irrespective of the mode of transaction such as cash, net banking and e-wallet transactions. People who live in flats and PGs with roommates often use many modes to transact. You can download splitwise android latest version 4.3.2.

So, this app is perfect for getting simple calculations done right. For all the simple and cool features that Splitwise offers for expense sharing, it is totally free of cost for installing (unless you opt for Splitwise Pro) and easy to operate on iPhone, Android devices and even on the web.

Works simply

You need to sign in using your mobile number and email id for setting up your profile and using the app. Once your profile is set up, you can track your non-group bills and add your friends to groups for sharing the expenses. Whenever you go out to eat with friends, each group member can simply add a new receipt for how much they paid.

The app automatically calculates each member’s shares according to custom settings. The user can split the bill evenly for a group of two or one can specify who owes whom. The app also saves the records in the cloud so that you can access it from anywhere.

When the dues are to be cleared off, the app sends a friendly reminder to the group members to settle the debts via Paytm or other payment modes. Once you clear the dues and shut down a log with other group members, for instance, at the month-end, the app doesn’t feature a search option for you to look up previous threads.

Nevertheless, the app does have a tab which shows previously settled bills. Even so, the app doesn’t handle any money by itself which means that the settlement of dues is not automated. Also, the app does not connect to any social media. This means that the Splitwise app doesn’t publish any of your data to any group without your permission.

Splitwise Reviews

splitwise android reviews

The Splitwise app has a record of working on popular requests by the app users and bringing them to life. No wonder the site brags about remarkable reviews by The New York Times, Business Insider, MSN Money, and many more websites and blogs. Ever since its launch, the app has been on a progressive journey to make expense sharing simple, systematic and hassle-free.

If you have ever faced the uncomfortable situation brought up by bill splitting, download the app now and avail the free assistance to share expenses. It is easy to use the splitwise app, thanks to the recent updates for Android and iOS, which improved many features besides the overall basic views.

Whenever one needs to divide household bills with flat mates, to work out costs for a group holiday, or just to remember when a friend spots you for dinner, this app comes to the rescue.

The splitwise app is extremely handy for people who spend on a myriad of services and products on a regular basis as the app also helps to track the monthly expenses and figure out what you spend most on. Even though it still needs some updates, which would make this app perfect, the itemized bills and simplified debts are a great help for those who struggle with it.

Most people find this super useful and handy for keeping friendships frictionless by clearing off any debts. So if you resonate with the uneasy feeling of unpaid dues, download the app now.