Splitwise vs Venmo
People often confuse these two, but they solve different problems. Splitwise is an IOU tracker. Venmo is a payment app. Most people end up using both—here's why, and whether there's a simpler way.
Splitwise
Expense Tracking & Splitting
Best for: Groups who need to track ongoing shared expenses over time
Pros
- Tracks running balances between people
- Great for roommates and trips
- Simplify debts algorithm
- Works without payment integration
Cons
- Doesn't actually move money
- No bank account syncing
- Manual entry for everything
- No budgeting features
Venmo
Social Payment App
Best for: Quick one-time payments between friends
Pros
- Instant money transfers
- Everyone already has it
- Venmo debit card available
- Social feed (if you like that)
Cons
- Doesn't track ongoing balances
- No expense categorization
- 3% fee for credit cards
- Privacy concerns with social feed
Feature-by-Feature Comparison
| Feature | Splitwise | Venmo |
|---|---|---|
| Track Ongoing Balances | ||
| Send/Receive Money | ||
| Group Expense Splitting | ||
| Multi-Currency Support | ||
| Simplify Group Debts | ||
| Receipt Scanning | ||
| Debit Card | ||
| Budget Tracking | ||
| Bank Integration | ||
| Free to Use |
The Verdict
You probably need both. Splitwise tracks the math—who paid for dinner, how rent should be divided, what everyone owes from the ski trip. Venmo actually moves the money when it's time to settle up. They're complementary, not competitors. The real question is: do you want to juggle two apps forever? Savida tracks expenses like Splitwise AND connects to your bank for the full picture, so you can see shared expenses alongside your personal budget in one place.
Why Not Get the Best of Both?
Savida combines budget tracking, expense splitting, and AI coaching in one app. No more switching between apps or paying for multiple subscriptions.