How Does It Work?
iOWEYOU is an expenses sharing calculator. It is ideal for people living in a shared house.
To use iOWEYOU, you log all the items you buy that you share with your group. This may be bills, food shopping, light bulbs, TV license, etc., etc.
iOWEYOU then tells you how much you all owe each other.
Three people live in a shared flat, George, Lucy and Dave. Dave pays £162 for the water bill...this means that Lucy and George each owe Dave £54 for their share of the water bill.
Now Lucy buys a new TV for £250. George now owes Lucy about £83 for his share of the TV, and Dave also. But Lucy already owes Dave £54 for the TV.
Now George pays for the weekly shop, £90. Lucy and Dave each owe him one third of that. We're already confused!
iOWEYOU works by allowing you to log all these purchases, even down to the smallest expenses. Whenever you want to pay someone back, you click 'View Amount Owed' and get told very quickly how much you owe.