Splitwise is a free tool for friends and roommates to track bills and other shared expenses, so that everyone gets paid back. On the web, iPhone, and Android!
Net worth tracker for people who own assets through LLCs, trusts or rentals
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Which is more popular?
Based on our record, RaiseMe
seems to be more popular. It has been mentioned
11 times
since March 2021.
social mentions
0 vs 11
Personal Finance popularity
100% vs 0%
alternatives listed
240+ vs 40
Base details
Website, pricing, platforms and company facts side by side.
User-Friendly Interface Splitwise provides an intuitive and easy-to-navigate interface, making it straightforward for users to add expenses, keep track of debts, and settle up.
Multi-Platform Availability Available on the web, iOS, and Android, Splitwise ensures users can access and manage their expenses from almost any device.
Expense Tracking The app allows users to easily log and categorize expenses, which can be particularly useful for group trips, shared households, or any shared financial responsibility.
Flexible Split Options Users can split expenses equally, by percentages, shares, or custom amounts, providing flexibility in how costs are divided among group members.
Currency Conversion Splitwise supports multiple currencies, which is handy for international travel or groups with members from different countries.
Bill Reminders The app sends reminders for outstanding balances, helping users to stay on top of their payments and avoid forgotten debts.
Integration with Payment Platforms Splitwise can integrate with payment platforms like PayPal and Venmo for easy settlement of balances.
Possible disadvantages
Privacy Concerns Since Splitwise involves sharing financial information with others, there could be privacy concerns for those unwilling to share detailed expense data.
Subscription-Based Features Some advanced features, such as expense exporting and additional integrations, require a Splitwise Pro subscription.
Manual Entry Requirement Splitwise requires users to manually enter expenses, which could be time-consuming and prone to errors if not done diligently.
Limited Automatic Reconciliation While Splitwise helps track who owes whom, it does not automatically reconcile or pay off balances, leaving users responsible for manual payment.
Dependency on Group Honesty The accuracy of the expense records relies on the honesty and diligence of all group members, which may not always be reliable.
Potential for Confusion The various options for splitting bills (equally, by shares, etc.) can sometimes lead to confusion or disputes among users over what is fair.
Motivates High School Students RaiseMe incentivizes high school students to perform better academically and engage in extracurricular activities by offering micro-scholarships for achievements, encouraging a focus on personal growth and college preparation.
Financial Planning The platform allows students to see potential scholarship earnings early on, helping them and their families to better plan for college expenses by knowing what financial resources might be available.
Increases College Access RaiseMe can increase accessibility to higher education for students, especially those from underrepresented or lower-income backgrounds, by providing a clearer pathway to funding college education.
Engagement with Colleges Students can interact with a variety of colleges and universities, gaining insights into what specific institutions are looking for, and aligning their high school activities accordingly to maximize scholarship earnings.
Early Awareness RaiseMe helps students become aware of scholarship opportunities much earlier in their educational journey, reducing the intimidation and uncertainty often associated with college financing.
Possible disadvantages
Limited Participating Colleges The scholarships offered through RaiseMe are only applicable to partner colleges, which may limit opportunities for students who wish to attend schools not participating in the program.
Micro-Scholarship Cap While the platform offers micro-scholarships, the total financial benefit may be limited, and students might still need to seek additional funds through traditional scholarship applications or financial aid.
Academic Performance Pressure Some students may feel increased pressure to excel in multiple areas to maximize scholarship earnings, potentially leading to stress or burnout if not managed carefully.
Incentive Compatibility The incentive structure may not always align perfectly with students' individual educational or career goals, prompting them to pursue activities mainly for scholarship amounts rather than personal interest or growth.
Dependence on Continued Availability Students rely on the availability and renewal of certain achievements' micro-scholarships, which could be subject to change based on the policies of participating colleges or the platform itself.
Analysis
An editorial look at what each product does well and who it suits.
SplitwiseRaiseMe
Overall verdict
Splitwise is a highly effective tool for managing shared expenses, especially if frequent splitting of costs is involved. Its features make it easy to track who owes what, and its automatic calculations save time and reduce errors.
Why this product is good
Splitwise is popular because it simplifies sharing and tracking expenses among groups, making it ideal for roommates, friends on trips, or any group spendings.
It automatically calculates balances and reminds users about payments, reducing the awkwardness of asking others for money.
Offers a user-friendly interface both on web and mobile apps, which makes managing expenses convenient and accessible.
Supports multiple currencies, which is great for international travel groups.
Integration with payment platforms like PayPal and Venmo for easy settlement of debts.
Recommended for
Roommates who need to regularly split household bills and expenses.
Groups of friends or families who often travel together and need to manage shared travel costs.
Colleagues or classmates working on projects or events that require shared funding.
Anyone who wants to avoid the hassle of manually tracking and settling shared expenses.
Splitwise is among the most commonly used group payment apps that can easily keep a systematic record of all your informal debts including restaurant bills, travel expenses, cost of accommodation, and much more. With...
Splitwise employs an intelligent algorithm to calculate the exact amount owed by each user. It shows who paid for what, how much amount was paid by each member, and any outstanding balances. Furthermore, the...
For example, shared items like appetizers would be split among the entire group or just a few people in the group. The app can handily accommodate large parties by allowing you to add up to 10 people to each group....
Recommendations tracked on public social media and blogs since March 2021.
Splitwise0 mentionsRaiseMe11 mentions
Tracking Splitwise since Mar 2021.
Hello I am making this post because I am interested I'm UCF but I have no way of comparing their financial aid summary to USF. USF is offering me 32k in merit based scholarships distrusted through 4 years, not including bright futures. Would this be lower or higher at ucf?
If you are strongly considering USF, check out the raise.me site where you can earn micro scholarships for different things like grades, perfect attendance, volunteering...Not every college participates but USF does so if you want a...
Source:
almost 4 years ago
How do you all afford this school?
If you reported the raise.me before you got your finaid offer, they may have initially wanted to give you 20k in grants but they give you 18k in grants and 2k in raiseme instead.
Source:
almost 4 years ago
How do you all afford this school?
As far as I know, all my merit and raise.me stacked when I got my aid package. Whichever ones they choose to award you get applied, but don't quote me 100% on this. I'd try emailing the financial aid office to make sure though.
Source:
almost 4 years ago
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