Hey all. My housemates and I use Splitwise to keep track of our shared purchases, from groceries to household items to bills. I like it and it's been helpful, but I feel like it's introduced an problem to how I manage my finances that I'm struggling to articulate and explain to my housemates.
The problem is this: let's say, for example, that a $150 bill comes in and I am in charge of paying it. I put it up on Splitwise.
A few days ago Housemate A had to buy something for the house, which cost $60 (divided between us 3). Housemate B paid $40 for groceries (likewise divided). Let's say I am also owed $20, and that there are a few other items in the group that mean I owe Housemate A $40. I owe $73.33 total, and am due $20 back, so technically I'm only owed $53.33.
Splitwise would automatically deduct this $53.33 from the $150 bill that I just put up, so my between my housemates they would only need to send me $96.67, the balance between our various credits and debits with each other.
On first glance this seems fair and makes sense to me, but lately it's been causing me some financial anxiety, because even though technically they only owe me $96.67, I still have to front that $150 when it's time to pay the bill.
This is then compounded when more and more expenses are added to the group. For example, if in between the period that I pay the bill and my housemates owe me $96.67, a new expense is added to the group, and now they only owe me $40. I now have to front $110 that I may not actually have at the moment for the bill. This cycle goes on and on, until no one ever actually gets their money back and we're all caught in a cycle of new debts and credits to each other. I wouldn't mind so much if it was only small amounts like $15-30, but for bills of $200 and the like, I'm struggling.
The source of my anxiety with this cycle is that I feel it makes it difficult for me to settle debts when I am ready to do so AND it makes future expenses (bills) harder to pay. Of course, I want to pay my housemates back for groceries and household items ASAP, but I prefer to do so by actually making a payment to them when I have been paid or have been able to settle previous bills first. My money feels tied up with my housemates' money is this weird way that I can't extricate myself from. I'll pay for something and think, "No biggie, I'll get reimbursed by my housemates for their share" but then new expenses are added to the group and I never recoup that money back. Yes, I'd end up paying my housemates back anyway, but the way that it's automatically calculated and deducted with no regard for the priority, size or timing of the expense (bills > groceries and dish cloths) OR personal financial priorities is doing my head in. I feel like I'm always in debt and always spending money.
I've previously tried explaining this to one of my housemates but I didn't explain it well and she thought I was anxious for no reason, saying that it only makes sense to let Splitwise do the math and settle all debts between us. Does this problem make sense to you guys? Am I making a mountain out of a molehill? If not, are there any ways that I can manage this while still using Splitwise?
Submitted November 27, 2018 at 03:54AM by MyHeartIsASynth https://ift.tt/2TQYT6K
