How to easily share expenses with friends when traveling
May 28, 2019 by Karen Ankner
Airfare, hotel charges, rental cars, event tickets. Managing money is a huge part of traveling with friends. P2P payment apps and spreadsheets can help, but having to constantly track your spending isn’t the most fun task when you’re on vacation and looking to unwind.
The larger a travel group gets, the more complicated it is to track expenses. A bachelor party weekend with 8 friends can quickly get out of hand if some guys decide to go to dinner while others head back to a hotel, and when the rest of the group doesn’t make it out to the last club of the night. Even with a single travel buddy, saving receipts and having to remember to update trackers can be a hassle.
Namu is a financial management app that makes tracking and splitting expenses a breeze. Keep reading to learn how Namu can make budgeting and managing expenses during your trip a breeze for you and your travel mates.
Before You Travel
Namu can help your travel group get organized as soon as you plan a getaway. Before you start researching options, have all your friends join a pod so you can discuss flight and hotel prices. When it’s time to book, Namu makes it easy to decide how much everyone should pay, and send each other money.
Expenses can be split evenly among a group or customized. Let’s say two friends agree to share a smaller room, while another needs to bring extra checked baggage. With Namu, you can collaborate to determine a fair split for each expense. The app helps everyone manage and track their individual spending and budgets alongside a shared view into the group’s spending as a whole.
During Your Trip
Planning the trip is just the beginning. Once you and your friends reach the dream destination, there are the costs for food, drinks, entertainment, and tips for staff to consider. As you spend money from here to there, save your receipts in a snap, literally – take a picture of each receipt, and Namu will store it customizable folders for later reference along with all the other payments you make back and forth to each other.
When You Return
When you get back, there’s no need to sort out who owes what to whom – it’s already settled in Namu. All the financial details from the trip are automatically saved in the cloud so anyone can return to the information for tax or other purposes at a later point. Namu enables everyone in the pod to collaborate on shared finances when needed, then organize their personal financial details according to their own needs within one simple app.
With Namu, you can track and manage your finances with friends and others any time, using any device. Whether using the app on your smartphone to pay a friend for a split restaurant bill and save the receipt, or pulling year-end reports for tax season, Namu takes the guesswork and grunt work out of shared finances.
Get Namu today to help with your finances!