Pay Without The Awkward IOUs: 6 Apps That Make Splitting Costs A Breeze

A couple of years ago, I listed out three of my very favourite cost-splitting apps on my blog. Today. I’ve revisited it, and I’m happy to say that they’re still topping the charts in popularity and effectiveness! If you’re jetting off for a Greek Island getaway with your partner or just hopping over to the Shuswap with some friends, you’re going to want to use these to avoid any unnecessary financial tension. Between group dinners, shared accommodations, and transportation like cabs and Ubers, keeping track of “who owes who” can turn a dream trip into a bit of a stressful situation. But fear not – here’s an app (or six!) for that.

Splitwise

Let’s start with the OG of expense-splitting: Splitwise. This free app (available on iPhone, Android, and the web) is perfect for keeping your group’s finances organized. You can name your trip, invite your friends, and start logging expenses. From here, everyone can see who paid, what and how much they owe in real-time. The app also has a nice, colour-coded interface with a colour representing each category.

Unfortunately, you can’t pay directly in-app in Canada, but e-transfers work just fine.

Settle Up

Settle Up offers flexible splitting, breaking down everything evenly, by item, or by custom split. It’s perfect for travel, due to its built-in currency conversions and the ability to share balances over WhatsApp or email. It really integrates all the apps on your phone, making the whole process a bit more seamless.

The premium version (just $1.39/month) adds receipt storage and fun customization features like group colours, making budgeting extra satisfying.

Splid

With support for over 150 currencies, Splid is ideal for global adventures (hello Greece, Bali, Africa, and more). The app can help to organize complex bills with multiple payers and uneven splits, while also allowing for offline access. As a lover of a spreadsheet, I also like the fact that you can export your activities.

One thing to note here is that the free version is limited to one group, so it’s best for one-off trips unless you upgrade. It’s also worth mentioning that the design of the dashboard isn’t as organized by icon and colour as some of the other apps mentioned.

Venmo

Even though Venmo isn’t a classic bill-splitting app, I thought it should be on this list because of its capability to send transfers between friends. Its QR scanner enables you to quickly split a bill at the table, and because its primary design purpose was to send money, you can take that next step in the moment. It’s widely used in the U.S., so it could be a helpful app to have when travelling across the border.

Plates by Splitwise

Okay, yes, it’s another Splitwise app, but this one is specifically for dining out with a large group. I would use this in more one-off situations, even if you’re going out for lunch with your girlfriend. You can split costs evenly or list out who ordered what, and it even calculates tips automatically. Additionally, this app has a chat built into it, so you and your group can coordinate as you split the bill.

Tricount

This one is a newer app to my roster, but it has a 4.8 rating on the Apple App Store with over 3,500 reviews. Another all-in-one solution for splitting bills and tracking expenses, Tricount gives you the ability to work offline, upload receipts, monitor payback tracking in real-time, work with multiple currencies, and more. The best part is this app is free, with unlimited usage, and many people even say it’s better than Splitwise.

As you can see, splitting costs doesn’t have to be stressful or complicated. You can pick any one of these apps (even try them out a couple of months before you leave), and they’ll help to ease any financial tensions, allowing you to make the most of your vacation. As I always say, future you will thank you! —Julie Shipley-Strickland, senior wealth advisor, Julie Shipley-Strickland Wealth & Risk Management, Wellington-Altus Private Wealth. For more money tips and real-life financial insights, you can follow Julie on Instagram, Facebook, or LinkedIn.