There are some things we can’t live without in life. These essential things often overlap each other — you know, stuff like housing, clothing, food, and water.
You would notice that all these things cost money, and we usually don’t go through our daily lives completely solo. We need people, too. So, you can add money and family (also, friends) to that list.
At a time when the cost of living in the country continues to skyrocket, we try to share the financial burden and cut costs whenever possible.
You would also notice that money and friendships don’t always mix. Borrowing from, lending money to, and splitting bills with friends has been the cause of many friendship breakups. Somewhere between delayed paybacks and the feeling of being used by a friend, awkwardness builds. Friendships are hardly the same after money-related resentment creeps in.
And honestly, I understand why. Being owed for long periods sucks, and sometimes it’s not even about the money — your friend might just be handling the situation worse by running away or not properly communicating the status of what they owe you. Don’t even get me started about feeling like someone’s walking ATM.
We analyzed these pain points carefully and thought, “how can we fix this problem?”. The first issue was that there was no platform on which these splits could occur. So we built this fun product called SplitCash, which allows friends conveniently split costs and pay to the intended service provider. Not all pockets are the same and we considered the financial differences between friends by allowing splits to occur equally, and unequally (by percentage, by adjustment, and by exact amount).
Sounds cool, right? We’re taking it a step further to be that friend that helps friends be considerate about one another’s finances, and ensure everyone leaves transactions feeling like they got their money’s worth.
The second issue was changing everyone’s mindset towards shared payments and nudging people to be financially responsible and considerate. This is a slow process, but with help from you — our esteemed user — we can achieve this in the near future.
We are working on solutions for several aspects of bill sharing and we can’t wait to share them with you!
Sign up on SplitCash today, and follow us across our social media.
