I frequently pay for my friend's meals because I have cash float. Is there a better way to track who I have been lending it to (so that I can get my money back too)? - Seedly
 

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Asked by Anonymous

Asked on 25 Jun 2019

I frequently pay for my friend's meals because I have cash float. Is there a better way to track who I have been lending it to (so that I can get my money back too)?

Hi I am the 'cash guy' (read: casual loan-shark with 0% interest) in my group of friends, which makes it hard to budget or balance my accounts month to month. This also makes for terrible headache when pay by card because my expenses are inflated

Does anyone have a good way to account for lending money to friends? I currently use notes on my phone with a ledger but it is damn leceh.

update: I have now become a wallet. Ex: they pass me $200 and I deduct their meal spending from there.

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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Nov)

Level 9. God of Wisdom
Answered on 27 Jun 2019

Gosh. I would switch it up such that you guys are taking terms to pay, instead of it being you paying all the time. If it's literally $5 here and $10 there, people tend to forget.

But since you are paying for your friends' meals, why not use it to work towards your minimum card spends, or loyalty points ;)

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NA
Nindya Azelia
Level 3. Wonderkid
Answered 2w ago

Use Splitwise!

Everytime you lend them money, they will get notified and they can see how much in total they owe you. And max up your rewards accounts (credit cards, favepay, grabpay, shopback - whatever you can think of) to get the most out of it.

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Wilson Nid A Break
Wilson Nid A Break
Level 7. Grand Master
Answered 2w ago

Splitwise app, and rmb to use those cashback promo and apps to get some money for processing the admin work obo your friends

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Glenn Toh
Glenn Toh, Founder at Whatcard.sg
Level 4. Prodigy
Answered on 27 Jun 2019

All the negative stuff aside, your situation sounds like an amazing opportunity to get a lot of credit card rewards from all the spending you are doing on behalf! I hope you are at least maximising the rewards to 'compensate' yourself for doing the hard work of tracking group spending :)

To address your issues, you could try using Splitwise (http://www.splitwise.com/), have used it with my friends whenever it is necessary to split spending (e.g. group dining, holidays) and it works pretty well!

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