5 Apps for Splitting Expenses with Roommates

There are so many benefits to having roommates. You always have someone to hang out with, you get to share those pesky household chores, and they help to significantly lower your cost of living each month. At Lerner Arrowood Parc in Vienna, VA, we always welcome our residents bringing roommates on to their leasing agreement. However, with all of the amazing benefits of having roommates, it can make finances a bit tricky to split up. Between splitting the rent, groceries, utility bills and more, finances can become a major headache in any roommate relationship. However, you’re in luck! It is 2018, so of course, there’s an app to take care of all of these concerns. Here are our top five favorite apps for splitting expenses with roommates.

1. Venmo

Venmo is one of the most popular financial apps currently on the market. With Venmo, users can add their friends by connecting the app with their social media accounts and contacts in their phone. After connecting the app with a bank account, users can easily send money to one another instantly, and also charge people for money. The social aspect of this app makes it easy to send and request money and keep track of what has been paid in one easy location. Learn more about Venmo here.

2. Splitwise

Splitwise is similar to Venmo in that it is an easy method for users to send money to one another. However, Splitwise is much more optimized for splitting bills and household expenses, making it a great app for roommates. Splitwise can keep a running tab of who owes who, making it easier to pay back your roommate each time money is owed, or wait until you hit a certain amount owed before sending money over. Roommates are often trading money back and forth pretty often for various expenses, so this helps minimize the back and forth while still ensuring everyone is paid up.  Learn more about Splitwise here.

3. Billr

Do you and your roomie love to hang out and explore the bars and restaurants in Vienna, VA? If so, the Billr app might be the perfect addition to your smartphones. This app makes splitting bills super easy. Simply enter in how much each person’s tab was, include the amount you plan to tip, and voila! The app will instantly show you exactly how much each person owes for parties up to 16 people and can work just as well for household expenses. Learn more about Billr here.

4. Divvy

Divvy is a similar app to Billr and is specifically for restaurant checks. Whether you and your roommate are out to a fancy dinner in the area or ordering pizza delivery, Divvy is a great app for knowing exactly how much each person owes one another. With Divvy, use the app to take a picture of the bill and it will allow each person to select what was theirs. This makes it easy to split up how much each person owes. Learn more about Divvy here.

5. IOU

IOU is a debt management app that is perfect for balancing the financial risks associated with having a roommate. This app makes it easy to navigate things you loan your roommate or things they have loaned you. From money for the last internet bill to a book they wanted to borrow, IOU will track everything. Users will receive notifications when debts are overdue and send email reminders to ensure debts are paid. This takes out the awkwardness of asking someone to pay you back and makes for a healthy roomie relationship! Learn more about IOU here.

Find a Roommate Friendly Apartment in Vienna

Lerner Arrowood Parc is roommate friendly, doing all we can to make the process of adding someone to your lease as easy as possible. Located in a prime location within Vienna, Virginia, Lerner Arrowood Parc’s renovated apartment homes are a must see. Learn more about our amenities and expansive floorplans to find the right space for you and your roommates. Then apply online to get started. We look forward to helping you make Lerner Arrowood Parc your new home.

2018-02-09T18:22:58+00:00 February 9th, 2018|