Why you should use bill-splitting apps to share roommate expenses

Having roommates can be fun. And then kind of annoying. And then infuriating. And then fun again! For all the things that make life with roommates great (cheaper rent, roomie dinners, hanging out with a dog without having to own one), there are just as many hassles (late rent payments, dirty dishes, picking up dog poop that isn’t yours). 

Some roommate squabbles are inevitable, but there’s at least one problem that’s preventable with the help of technology — tracking group expenses. If you’re sick of keeping tabs on rent payments, utility bills and other shared apartment expenses while also tracking down “forgotten” payments, bill-splitting apps may be the remedy. They’ll help everyone stay on top of payments and keep track of what they owe, making shared expenses transparent, clear-cut and easy to carry out.

What’s so great about bill-splitting apps?

Sure, you and your roommates Venmoing the same $30 back and forth for utilities has been working fine, but in the immortal words of Hitch (from 2005’s “Hitch”), “What if fine isn’t good enough? What if we want extraordinary?”

Iconic rom-coms aside, it is extraordinary how smooth things can be once you organize your payment processes. Bill-splitting apps can consolidate expenses into one easy payment, keep track of everyone’s payments so it’s clear what you owe and deliver gentle, automatic payment reminders. You know, the kind you might not be so gentle with … 

Finances are a stressful part of life, and the more people in the mix, the more stressful they often become. These apps help stop the squabbles at the source and make it all about dollars and cents, not about whose side that roommate is always taking. 

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Which bill-splitting apps are out there? 

There are plenty of great options for tracking, dividing and paying roommate expenses. Find out which one is right for your crew. 

Best overall

Splitwise is our favorite app to use when divvying up expenses between roommates and friends. Its detailed yet easy-to-use interface has everything you need to track your overall balance and easily see who owes whom. Just create a group, have everyone upload their monthly expenses like gas, internet, electricity and watch the app work its magic. Instead of doing the math yourself and transferring the same money back and forth, Splitwise figures out your overall debts, owed amounts and how much is owed to each person. 

So say goodbye to Excel sheets and awkward rent reminders! Splitwise keeps all shared expenses transparent and easy to understand. When you’re ready to settle up, you can use the app to send money through your PayPal or Venmo accounts, or manually mark the transactions complete when using cash or another form of payment. It isn’t just rent and utilities that Splitwise can keep track of, either; it’s everything. For example, if someone foots the bill for a brand new TV or shared appliance, they can just add the price to everyone’s Splitwise tabs. And if for some reason Splitwise doesn’t quite do it for you, there are similar apps that accomplish the same goals. For example, Splittr has many of the same features with a simpler, more minimalist interface. 

Best for roomies who share shopping duties

Do you and your housemates take turns grabbing milk and eggs? Does someone in your apartment do bulk shopping with their coveted Costco membership? If so, get OurGroceries! This useful app helps you keep track of food and other shared items you might buy at the grocery store (toilet paper, paper towels, dish soap). This way, if there are any disagreements about who was the last one to grab butter, the proof is in the pudding. And the pudding? That’s in there too. 

OurGroceries also lets you add items to a communal shopping list when someone is shopping for the group. It’s a great alternative to blowing up the group chat or calling your shopper every time you remember a new item. With OurGroceries, you can toss your “To Buy” dry erase board in the trash — then let everyone know if you buy a new one. 

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Best for roomies who go out together

Whether you’re a bunch of foodies or a bunch of party animals, roommates who hit the town together could stand to benefit from downloading Tab. This app makes it easy to select what you ordered at a bar or restaurant and pay for just that (with tax and tip calculated in). 

Tab works easily — just take a picture of your bill and upload it. Your roommates and friends can then select which items are theirs and pay via in-app Venmo. You can even split costs of individual items or share someone’s portion of the bill when it’s their birthday or a special occasion. No more back-of-the-check math problems and certainly no more even bill splitting. If one of your roomies ate enough appetizer shrimp to feed a beluga whale, that’s their problem. 

Living with other people is fun, but it can often be stressful, especially where finances are concerned. Limit the bad and maximize the good by making shared finances as simple and transparent as possible with these easy-to-use apps. And if the whole squad is saving money with their finances simplified, visit KSL Homes to see if there are any apartment upgrades available near you.