If you are going for a holiday with friends, you definitely want to ensure that the expenses are well managed and split accordingly. Most of the time what happens is that one of the person ends up paying most of the holiday expenses (in my case – I always happen to be the victim).
Whether you go in a large group (more than 7-8 person) or say a small group (3-4 person), it is difficult to keep a track of travel expenses. What we have been doing is assign the task to one of our trusted and skilled friend and he finally let us know the share at the end of trip. Friends going for holiday is not a new concept and people have been following other different ways as well to manage expenses and split at end of trip.
Conventional Methods of Tracking Travel Expenses
- Pool in and one person pays all bills: One person is appointed as money handler. All friends chip in equal amount of money before the trip starts and the designated person is asked to pay all bills (no one else pay anything). He is given the responsibility to keep track of all expenses and at the end of trip, remaining money is again returned in equal proportion.
- Keep paying randomly and manage an excel sheet: No need to appoint a particular person do the task and anyone can pay any bills. However we have to maintain an excel sheet where we have to keep track of who’s paying and how much. A bit complex and tedious task.
Problems in the conventional methods
- No track of expenses: In what category have we spent most, on which date have we spent most
- Most of the time we end up paying unequal some
- One person end up investing significant effort.
TripSplitter iPhone App – Manage Travel Expenses
This app helps effectively track travel expenses. Once you use this, you will require no other travel app. The app user interface is extremely simple with the ability to add and split expenses in few seconds.
Using the application is very simple, you setup a name for a new trip and then add the names of people you will be splitting with (generally all the people going on a trip). Next this is simply add an expense item such as food, hotel bill, petrol or other miscellaneous charges, you will have to add who’s paying this and if you want this to be split equally among all (or between selective people). I mean why should everyone pay for booze when only few are taking it. Trip splitter even keeps a tab on how the amount is being paid – e.g cash, credit or debit.
Anytime you can know daily travel expenses, whole trip expenses, who has paid what amount and other such things. Expenses are categorized into items and days, and each person and item gets color-coded for easy visual reading.
App Cost: Trip Splitter is a paid app costing $1.99. The paid version allows unlimited number of participants, however there is a free version as well which allows two participants.
Download Link: TripSplitter App for iOS
The app is compatible with iPhone, iPod touch, and iPad. Requires iOS 5.1 or later. This app is optimized for iPhone 5.
[box type=”shadow” align=”alignleft” ]Trip Splitter App Features
- Unlimited number of participants in Paid Version and two participant in free version.
- Add participant photos for added fun
- Create even or uneven splits
- Enter quantities owed or paid in under 10 seconds
- Categorize expenses with the touch of an icon
- Convert currency if your trip spans countries
- Turn device sideways at any time to see the IOUs
- Email participants a detailed list of spending’s
- Geo-locate all your spending’s on a map
- Attach photos of receipts or events
- Record individual payments between people
- View daily expenses and totals
- Switch between concurrent trips
- Email and web support