I’m at my wit’s end with our current expense tracking system. My partner and I have been using a spreadsheet to keep tabs on our shared costs. Every other week we spend ages updating who paid for what, figuring out how to split things, and sending money to balance it out.
It’s eating up too much of our time and I’m desperate for a different way to do this. Has anyone come across a good method for monitoring shared expenses while still keeping our own budgets separate?
We gave that popular splitting app a shot, but we often enter multiple transactions at once. The free version doesn’t really work for us, and I’m not keen on paying for the full version. Any suggestions would be super helpful!
I’ve found that using a combination of a joint credit card and a simple note-taking app works wonders. My partner and I got a shared credit card solely for joint expenses. We each pay half the bill at the end of the month. For tracking, we use a basic notes app on our phones. One of us quickly jots down non-card expenses as they happen. It takes seconds and gives us a clear overview without the hassle of constant updates. We do a quick reconciliation monthly, which rarely takes more than 15 minutes. This system has saved us countless hours and arguments. It’s low-tech but effective, and best of all, it’s completely free.
hey, have u tried Splitwise? it’s pretty cool for tracking shared expenses. u can enter multiple transactions at once n it keeps a running total. the free version works great for me n my roomies. saves us loads of time n hassle. might be worth another look!
I’ve been in a similar situation, and what worked wonders for us was setting up a joint account specifically for shared expenses. We each contribute a fixed amount monthly, covering all our shared costs. This way, we don’t need to constantly track individual purchases or settle up.
For tracking, we use a free budgeting app that syncs with our joint account. It categorizes expenses automatically, saving us tons of time. We review it briefly once a month to ensure we’re on track.
This approach has dramatically reduced the time we spend on expense management. It’s also improved our financial transparency and reduced money-related stress in our relationship. The key is finding a system that requires minimal ongoing effort while still giving both of you visibility into shared expenses.