BillMonk - Track Shared Bills among Friends

If you are a college student living in a dorm, or sharing a flat with your friends, or do lots of borrowing and lending or simply not blessed with an amazing memory Billmonk offers something you may find useful. It is a free application that helps you keep track of things you borrow and lend. While mainly designed for tracking money transactions among friends, you can also track other things like books, movies, CDs and etc. As Billmonk states, Track Money and Track Stuff.

The way you can track moeny transactions is really well thought through and straightforward. Check out simple illustration of the service below:

Jim and Joe had a $25 lunch. -> Jim paid $25 for lunch and tipped $5 on top. -> Jim enters into the Billmonk that he paid $30 for his lunch with Joe. -> Billmonk records that Joe owes Jim $15 for lunch and also sees that day before Joe covered for Jim $20 club entrance fee. -> Billmonk does all the math and concluding that Jim owes Joe $5. -> Jim and Joe see it all settled in their accounts

You can let Billmonk handle a lot more complicated transactions including as many people as you like. Check out couple of snapshots below along with a feature list:

Things you can do with Billmonk; easily track money track other things such as books, movies, etc catalog your items and browse through catalogued items of your freinds export list of your friends from facebook into your billmonk account include your catalogued items in your myspace profile and let others see what you have report expenses via SMS text messages from your cell phone on the spot without bothering to remember it. Sending to billmonk ‘45 2 sushi lunch” means “I paid $45 for a sushi lunch for 2 people’. You can login latyer to provide additional details. More on messaging here billmonk supports multiple languages and currencies several notification options available. Choose at which instances you want billmonk to notify you.

You may also checkout an interective Billmonk tour here. Another service that is similar to this one is IoweYou