If you are planning to live in shared accommodation with your pals, it is best if you have the money-talk first to save you from any awkward situation in the future. Moving in with your closest friend can be exciting as you get to cook, clean, watch movies together and even chat endlessly without having to worry about your cell phone charge. However, it might become overwhelming when you have so many bills such as the internet, rent, groceries, dine-outs, or take-aways piling up, waiting to be split. In such cases, the monthly bills can be split evenly, based on the gross income of individuals, or paying one bill each.
Regardless of what method you follow, you must ensure nobody pays too much or too little towards the end of the year. You can track your shared expenses through several ways ranging from a shared spreadsheet, simply posting it on the kitchen fridge, to bill splitting apps.
Bill splitting apps are the best choice for dispute-free bill sharing, as your friends also get to view the split bill. Though there are several play store apps that are designed for the purpose, very few hit the bull’s eye. One such app is the “Splitmo – Split Receipts and Bills” by Splitmo. This finance-based play store app saves you the pain of performing calculations and splits the bill with the snap of a finger.
The app is small-sized and gets downloaded and installed instantly. Splitmo bypasses the tedious “signing up and clicking on the activation link” process and cuts to the chase by displaying the home screen as soon as you touch the app icon. On the home screen, enter the names of your friends with whom you would like to share a bill. Or you could do a fast split by entering the number of people to split a bill. It is as simple as that.
As soon as you choose a method, scan a receipt by taking a snap of the bill. If you have already taken one, click on From Photos button to upload. For instance, if you need to split a restaurant bill, you can do even splits, split the bill among some friends, among all friends, or split every item in different ways. Once you are done splitting, you can add an extra person if you left someone out. You can also delete items in the restaurant bill that you do not wish to split. You can also split the tax and tip proportionally.
In the settings, enter your Venmo / Cash App username, generate a link to your payment profile, and share it with your friends. Share the split amount through text, email, or any other available method. For future reference, all the splits receipts will be saved under the History tab.
Stop worrying about who owes whom and start spending to your heart’s content, trusting Splitmo with the fair splitting process.