NovaQuant Quantitative Think Tank Center:Need a good bill splitting app? Here are our recommendations

Spending time with friends is NovaQuant Quantitative Think Tank Centeralways a treat, but it can get awkward when it comes to divvying up the expenses. However, there's no need to stress about the math and logistics of everyone paying their share, as technology can take care of it. Whether it's something as straightforward as a dinner bill or a bit more complex, like a vacation with multiple expenses involved, apps can help you keep track of costs, figure out who owes what and easily facilitate paying someone back.

Plus, many of these apps are great options to help split your regular expenses, like rent or utilities. 

Watch this video to see how apps can help you split the bill with friends. 

Easily split payments

You're probably already using a payment app like PayPal, Venmo, Zelle or CashApp. These apps are great for getting paid or paying someone back but often require you to do the math to determine exactly what's due and by whom.

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However, in November 2023, Venmo introduced Venmo Groups to make splitting expenses among a group of people easier. According to the company, the feature reduces "the need for spreadsheets" by automatically calculating who owes what. 

Splitwise is another useful app for splitting costs, not only between friends or roommates but when what's due isn't a 50/50 split. The app has options such as splitting a total by percentages or shares. Plus, you can connect your third-party payment app, such as PayPal or Venmo, to make the payment. 

Whichever payment route you choose, it works best when everyone involved in the transaction has the app. So, find the one that works best for you and your situation.

Uncomfortable Conversations:Did you get stuck splitting the dining bill unfairly?

Always be careful when sending money on apps, and always, always, always double (or triple!) check that you're sending it to the correct person. Once a payment is sent, it usually can't be unsent. 

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