पैसा ख़ुदा तो नहीं है लेकिन ख़ुदा से कम भी नहीं हैं। You might have heard this proverb many times going with direct meaning as Money is not God but it’s not less than god. For everyone money is important even IF someone says I don’t care about money, they don’t mean it. Everyone needs money for one or the other reason.
Keeping track of everyone’s expenses is the need of the day. Where one’s money is getting spent, how it is getting spent and so on. Every common man is trying to save money somehow, whether it is on government taxes or while outing. Everything is planned where to spend money and where not to.
What is Bill splitting?
Bill splitting is to divide the bill equally, depending on the criteria for which bills are paid.
Old Vs New Methods of Bill split
Those were the days when roommates used to have notepads to manage their expenses, where every day they needed to keep their notepad with them. The day used to end with them trying to remember and updated daily expenses between roomies.
Vacations, were another place where this little accounting notebook were in high demand. And then by end of the trip, all of you have to sit together and get your bills split equally.
The only good thing about doing things this way was the memories you share will trying to recall where the bill came from like that fun dinner, or the day you needed 5 bottles of water after a hike!
Looking back at my old days, on one of my trips 10 of us friends were riding through the coastal area of Ratnagiri district in Maharashtra. This was a 10-day trip and it was the duty of my friend to maintain and update this little book every time anyone spent any money. This is what he would capture –
- How much money xyz person has spent
- For what he/she spent
- Which Location
- With whom the split is
But now technology is at everyone’s disposal, you can now update expenses instantly with an app. A lot of apps which helps to roommates/flatmates or people who are on vacation split and track their expenses.
Splitwise is the best way to manage your expenses, at the end you will get know to whom you have to pay or who is going to pay you. It is a really helpful app which is solving our daily expense management problems.
In cities like Mumbai, Bengaluru which are very expensive cities splitting bills in a shared house is necessary as the other expenses in such cities are very high may it be traveling or restaurant so that only one person should not get the burden of expenses while living together or as a bachelor or live in couples.
How to Split Bills as a bachelor?
When you are living life as a bachelor, every penny is hard to account for. You might give money to your parents at home, or might have an education loan or other miscellaneous expenses. So, managing your money as a bachelor is really important.
If you are living together with your friends, classmates or colleagues you can share expenses equally using different apps like Splitwise and Venmo to manage your expenses.
If we go more in-depth, you can even split rent based on the types and sizes of rooms you utilize in the shared apartment. In an apartment generally, there is a master bedroom & guest bedrooms, the person in the master bedroom usually pays a higher rent as they get more space and an attached bathroom.
Avoid splitting by dividing the square footage each one uses in the house (which is also possible). But, I think instead of going in such depth, live a happy life with your room partner by ignoring such small things. Similar above pointers will be helpful when it comes how to split bill as live in couple or splitting bills with boyfriend or girlfriend.
Bill splitting between husband and wife or newly married couple or how to split bills when married?
When you are thinking of splitting bills between husband and wife, this might not be a good idea. This relationship, unlike the others above is an emotional relationship.
It’s advised that one person in the relationship saves for the future and the other spends for the home’s current needs. The government offers women higher returns, and these are meant for their new home or child’s education.
But, when both earn and save equally, splitting the bill between husband and wife equally or dividing your daily need expenses is the best idea. It totally depends on the understanding between both of you.
We hope this gives you some clarity on the topic, if you have any questions feel free to drop us a comment.