New app ‘Splitwise’ takes the awkwardness out of debt

splitwise app dashboard

The ‘IOU’ conversation is now on the app store.

Let’s face it, there’s very few things more uncomfortable than asking a friend or family member to pay you back. Originally intended specifically for rent splitting among roommates, Splitwise has now expanded as a log for all kinds of debt repayment.

It works as its own networking site, calculator and accountant. Add your friends and the debts they owe you as they accumulate under their profile, and also keep up with how much you owe them. Getting the calculator out at the dinner table is now a thing of the past, and the stress of trying to figure out how to break someone’s $100 note is no more.

It automatically sends out a reminder every month to prompt debt settlements without the uncomfortable feeling of having to do it yourself.

screen shot of app

There is also custom apps for food and drinks. Plates app works in conjunction with Splitwise, but is specifically customised for eating out, and even accounts for shared appetisers, calculates taxes and tips, and integrates with Splitwise so if someone doesn’t pay, it accumulates on their account.

While Drinkz app is run separately, it was specifically created to keep track of whose round it in at the pub, but it has also transformed into a social netoworking and dating platform for regular pub goers and like-minded drinkers.

Paying your friend back for that cab fare that’s always forgotten, the concert tickets that are delayed until the last minute, and that tension that arises as the days add on can now be forgotten with Spitwise.

Splitwise is free and available on web, iPhone and Android.