Sharing expenses with roommates can be quite a hassle. However, it doesn’t have to be that way!
These apps will help you easily manage your shared expenses with your roommates and pay your bills quickly and easily.
Splitwise is a cool little app that lets you add roommates and helps you track individual expenses. Whenever a new expense comes up which needs to be shouldered by everyone, just add the expense to the app. For example, if you pay $100 for groceries one week, just add it as an expense. You can pay your friends (also called “settling”) via Paypal with a simple click.
Venmo is a free app that lets you easily pay your friends online. The app removes the stress of needing to go around demanding cash at night. Every month, people can pay up their share of the expenses straight from their phone. It works a little like and was developed by Paypal, but there are no fees when paying from your bank account. If you wish, you can use a credit card, which will cost a three percent fee.
Fairshare is another app that lets you easily split and calculate expenses between roommates. Whenever you go on a trip together or when someone buys food for the dog, you can just add names and you’ll get a calculation showing how much each roommate owes. You can also use Fairshare to help organize tasks and chores around the house; each chore will have a set number of points that will be earned by the one who does it (you decide how much points are worth). This way, even difficult chores will get done.
Do you have any apps that make apartment living with roommates easier? Let us know about your favorites in the comment section below.