Managing shared expenses can be a stressful task. Whether it is sharing rent and apartment bills, splitting bills from group trips, the dinner bill, or other private expenses, trying to split expenses equally can be a faff.
And that is where bill-splitting apps come in. Using a bill-splitting app you can take the hassle out of shared expenses. Perfect for couples sharing relationship costs, roommates splitting rent or just friends trying to organize group bills, bill-splitting apps do all the hard work for you.
Together Price is the number one bill-splitting app for Android and iOS with industry-leading features, multi-platform support and world-class customer support. This genius expense-splitting app will make sharing expenses and splitting bills hassle-free and easy.
Why Use Bill Splitting Apps?
But why even bother using a bill-splitting app if you can calculate it all manually? Well, there are many reasons why bill-splitting apps can really help you.
To Avoid Awkward conversations
We all know that it can be awkward talking about money. Especially when it comes to which person owes money to whom. And yet, we end up having to discuss money regularly when dividing expenses. This happens all the time, with simple things like going out for a cup of coffee or more complex things like renting an apartment.
By using a bill-splitting app you can make your shared expense history transparent and simplify debts to each other. These give you a tool and a platform to split bills equally and even store high-resolution receipts so that everyone can see exactly how much has been spent.
By being more organised with all the expenses you share, you do not need to have awkward conversations about how to manage shared expenses or whether you accidentally calculated the wrong total balances.
Everything is done for you so you can keep your friendships separate from your finances but still share expenses.
To Make Organizing Group Bills Easy and Efficient
Keeping track of all the informal debts in a group setting, for instance on group trips, can be a hassle. But by using a bill-splitting app you can keep everything in one place.
All you need to do is add multiple payers to a group and add expenses to the app. You can add the cost of the vacation house, and transport, as well as every restaurant bill or grocery bill for an entire group trip.
At the end of the trip you can choose to settle all the informal debts, and the app will calculate exactly how much money each person needs to pay. It will also calculate group totals so that you know how much the trip cost in total.
You don’t even have to chase up payments as individuals will be sent push notifications asking them to pay. They can use integrated payments or stay on top of cash by recording cash payments.
Better still, you can use the currency conversion feature on many bill-splitting apps to convert expenses into different currencies. This is ideal for group trips abroad. When travelling in the US many apps will also include the tax and tip for you so that you can follow the correct customs, and take them into account when splitting the bill.
For Shared Households
Sharing a household means you are likely to have a lot of shared costs. From splitting the rent and utility bills to paying for toilet rolls and cleaning supplies, bill-splitting apps can help keep a household running smoothly.
Expense-sharing apps such as Together Price allow users to manage recurring transactions. This means that rather than splitting a single expense you can split bills that come regularly. In a household, this makes arranging things like rent and utility bills incredibly easy. You can choose how regularly these need to be paid, to split evenly or not, and the app will do the rest for you.
For Tracking Finances and Budgeting
Bill-splitting apps make useful budgeting tools. When budgeting you need to calculate your monthly income, which is easy enough. But you also need to know your monthly expenses. This can be trickier when you share costs with someone else. But by using bill-splitting apps, you can upload receipts, see your full shared history and even view your edit history for any changes.
That makes it very easy to work out your private expenses. And with that knowledge, you can see your entire monthly expenses and create a budget. With a good budget, you can start saving for the future, create an emergency fund and meet your financial goals. Budgeting will help you stay financially healthy and stable. So having the right tools to budget well is incredibly useful.
What’s more, you can easily see exactly where your money is going by using the expense categorization feature. This allows you to break down the different categories of things you are spending money on.
The great benefit of this when it comes to budgeting, is that you can see how much of your money is being spent on things you need compared to things you want. This makes it easier to discover where you can start to save if you need to make cuts. For instance, if you can see that you spent a lot of money on getting coffee out, and need to start making budget cuts, this might be a good place to start.
How To Use a Bill-Splitting App
So now you know why to use expense-sharing apps, but what about how to use them? Well, both Apple and Android users can download the free version of apps, or better still, the Together Price app, which is a free app for all. After that, there are a few easy steps.
Create Groups
To share costs, you need to know who the costs are being shared between. That means you need to create a group and add all the group members you want to split expenses with. Users can often make custom user avatars, and you can use cover photos to show easily which group you are looking at.
Apps like the Together Price app allow multiple people to be part of multiple groups at once time. If you need to restore a deleted group this is also possible. That means you can have groups for private friendships, your household, and the hockey group tour!
Add Expenses
Once you have a group you simply need to create bills. This means you add informal debts, lent money and other costs into the group. You can decide which group members need to pay your back, and how much they owe, or you can choose to split the same bill in equal parts.
Some apps even allow offline entry meaning you can add expenses which means whether you have internet or not you can add your expenses to the app. Other apps require you to be connected to the internet.
Connect Your Bank Account or Log Cash Payments
At the end of the trip, or at regular intervals, you can choose to settle the balance. You can do this with a cash payment and note it down, or pay with your debit card, bank account or PayPal. Whichever way you choose to pay you can note down when you have paid off the debt. That way everyone in the group can see that the balance has been settled.
Together Price
Together Price was the first worldwide app for sharing subscription costs. But now, with Together Price, you can do so much more. You can now share any kind of expense, from household bills to holidays, dinners, weddings, gifts, and more on Android and iOS.
As an Owner
As an Ownertext in bold, you will create an expense to share. After registering to Together Price for free, simply create an expense and add the participants you want to share the cost with. Easy!
As a Participant
As a Participant, you will be invited to add yourself to an expense created by the Owner. By registering with Together Price, you can pay your share of the costs and keep track of your payments in a simple and secure way.
You can keep track of all your transactions, send messages to the participants in your group, and much more.
Start sharing all your expenses on Together Price today!
In Summary
Want to make sharing bills easy? Then use an expense-sharing app. Together Price is the best expense-sharing app available with leading features.
Track your finances, manage group finances, and pay using cash or a debit card, to make organising shared payments that much easier.
So what are you waiting for? Sign up for Together Price for free today on Android and iOS and start sharing costs without a hassle.
