Guide to handle transactions between friends/roommates

For atleast 2-4 years in U.S. we will have to share the bills, including utilities, apartment, groceries, and some money lending activities will be going on.

We were 7 guys staying and pretty lazy in calculating monthly expenses. We usually do once in 2-3 months. Most of them do it every month.

Sometimes, we had a folder, so any bills that are paid, will be put in that with the name of the person who paid the bill and every 2 months, someone will do the math and manually, decide who has to pay and how much.

We, used to go to Walmart once in every 3 weeks and bill will be very huge. It will take atleast 45 minutes to bill all the items we buy. So, the best time for use to go to Walmart is around 1 AM. So, there wont be any rush and long queues at the bill register. We used to get groceries for around $300 every 3 weeks.

Responsibility’s was usually, split. One will take car of Power, water, Internet and cable connections. Also, this to make sure, everyone has something to manage and you might need address proof in form of some bills.

Later, I came across Buxfer, a tool to manage money transactions between friends, roommates.
It looked pretty cool. You can pen down all the transactions, and if you set it up with number of roommates, it does the math for you. Try it out!

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