Split bills and IOUs without the awkward conversation.

The small debts that damage friendships

Almost nobody falls out over a big loan. It is the dinner you paid for twice, the flat deposit that was never quite settled, the "I'll get the next one" that nobody remembers. The amounts are small and the awkwardness is large, and the cause is nearly always the same: nothing was written down.

A written record fixes this. Not a spreadsheet no one opens, but a note kept at the moment of the purchase, while the details are fresh and nobody feels like they are being accused of anything.

What Vaulta does here

Bill splitting and IOUs are included in the Free plan. When you pay for something shared, you record it and split it between the people involved. When someone owes you, or you owe them, an IOU keeps the amount and who it is with. When it is settled, you mark it done.

Vaulta does not move money between people. You pay each other the way you normally do, by bank transfer, cash or whatever your country uses, and then record that it is settled. The record is for your own memory and for settling up honestly.

Your split bills sit alongside your normal budget. What you are owed is tracked separately, so a loan to a friend does not make you look richer than you are.

Rules that keep it fair

Whatever app or notebook you use, a few habits make shared money work:

1. Record the moment you pay, not at the end of the trip.
2. Agree the split first. Even or by what each person ordered.
3. Round in favour of the other person. A few cents either way matters less than goodwill.
4. Settle on a schedule. Monthly for flatmates, at the end for a trip.
5. Keep it boring. A tone like "I have you down for 18.40, shall I send details?" makes it easy.

An example, labelled as one

Four friends share a weekend rental costing 480 and groceries costing 96. Sam paid the rental and Priya paid for the groceries. The total is 576, so each share is 144. Sam paid 480 and owes only 144, so Sam is owed 336. Priya paid 96 and owes 144, so she owes 48. The other two owe 144 each. Check: 48 + 144 + 144 = 336, which is what Sam is owed. The numbers close, and a written record makes that check easy.

Flatmates and couples

For flatmates, the Journal piece on splitting costs covers rent, utilities and shared groceries. For partners, see budgeting for couples and the article on budgeting with a partner.

What it is not

Vaulta is a private tracker on your phone. Version 1.0 does not have shared accounts or live sync between two phones, and it does not collect money from people. If everyone in the group needs to see the same list, you will still need to share the numbers yourself.

When someone does not pay back

Keep it light, specific and early. A message such as "Quick one, I have you down for 22.50 from Friday, want me to send my details?" works better than silence or a pointed remark. If an amount is large or a pattern develops, treat it as a conversation about trust, not a bookkeeping problem. A written record helps because it removes arguments about what the number was.