Splitting bills is an increasingly common practice from sharing rent and utilities to dividing the cost of dinners or vacations. Navigating the intricate balance of expenses, however, can often lead to confusion, tension, and strained relationships. But thankfully, the rise of innovative mobile apps for splitting bills has revolutionized how we manage and divide our shared expenses with partners, roommates, and friends.
Gone are the days of complicated spreadsheets, endless calculations, and awkward money conversations over who owes what. OneUnited Bank president Teri Williams tells PS that you should “make sure there is clarity about how bills will be split (is it 50/50 or some derivation?) and who accepts what form of payment.”
Regarding payment method, Williams shared, “With all the payment apps, you want to make sure everyone on the ‘team’ has an acceptable form of payment, and importantly, has used that form of payment in the past. Avoid that tense moment, when it’s time to split the bill and someone says their payment app is not working.”
The popularity — and, let’s be honest, necessity — of cohabitation and communal living arrangements has further fueled the demand for efficient bill-splitting solutions. Whether splitting rent among roommates, divvying up grocery costs, or sharing the burden of household utilities, learn about the best apps to split bills.
Experts Featured in This Article
Teri Williams is the president and chief operating officer at OneUnited Bank.
Julie Ramhold is a consumer analyst and senior editor at DealNews.com.
Source link