The Best App to Split Bills with Roommates in Canada (That Actually Works)
Tired of chasing roommates for rent money? Stop using spreadsheets and start using a shared account. Here is the best way to split bills in Canada.
Living with roommates is a rite of passage, but managing the finances can be a nightmare. “Who paid the internet?” “You still owe me for pizza.” “I don’t have the rent money yet.”
Apps like Splitwise are great for tracking who owes what, but they don’t actually move the money. You still have to send e-transfers back and forth.
There is a better way: A Joint Account for Roommates.
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The “House Fund” Strategy
Instead of constantly paying each other back, set up a KOHO Joint Account specifically for “House Expenses.”
How It Works:
- Open a Joint Account: It’s free and takes minutes.
- Set the Contribution: Agree that everyone puts in $1,000/month (for rent, internet, hydro, and toilet paper).
- Spend from the Fund: Use the Joint card for all house purchases.
- Buying cleaning supplies? Use the Joint card.
- Paying the internet bill? Pre-authorized debit from the Joint account.
Why It’s Better Than Splitwise
- No “IOUs”: The money is already there. You never have to chase anyone for their share.
- Transparency: Everyone can see exactly where the house money is going. No more “I swear I bought detergent” arguments.
- Safety: Because KOHO is prepaid, there is no overdraft risk. If a roommate bails, they can’t drag your credit score down or rack up debt in your name.
Splitting Rent Made Easy
You can even use this account to pay rent. If you set up Rent Reporting, you can all build credit just by paying your landlord on time.
Conclusion
Don’t let money ruin your roommate relationship. Automate the awkwardness away with a shared “House Fund” on KOHO. It is the app that actually solves the problem, rather than just tracking it.
Learn more: Joint Bank Account with Separate Cards, KOHO for Families, and why KOHO Beats Banks.
🏠 Simplify Shared Living
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