The Real Story About Transferring Money

Hey Barbarians, get your damn hands off my money!

Ron Lieber wrote an article with a moving headline in the NYTimes on Friday: “Why It’s So Hard To Transfer Cash To Your Friends.” I am passionate about this issue – Splitwise’s mission is to reduce the awkwardness of sharing money. Stress about money poisons relationships and dealing with the logistics of repayment is one cause of stress. Let me elaborate on that story and give you Splitwise’s take. Continue reading The Real Story About Transferring Money

Court Allows Discrimination in Roommate Selection

One of my passions is to help people be fair to their roommates. But how fair are you required to be to your potential roommates? Roommate.com is a popular roommate finding site, which allows you to search for roommates based on sex, age, sexual orientation, and family status. Is this fair? The Fair Housing Council of San Fernando Valley thought not, and the case landed in the 9th Circuit Court of Appeals. Continue reading Court Allows Discrimination in Roommate Selection

Juries: The Original Fairness Calculator

Jury
A survey of your peers.

I had the fascinating experience of attending my first jury summons yesterday in the Commonwealth of Massachusetts. I wasn’t sure whether to be disappointed or relieved when they dismissed me from the courthouse after 7 hours of waiting for my voir dire.

A randomly selected jury pool jury is in some ways the original, single-use fairness calculator. When confronted with a dispute, one presents the case to a representative sample of your peers. They vote for the result they think matches their common sense notions of what is relevant and who is right. If Splitwise didn’t do surveys to test our fairness calculators, it would be a bit like the government having a trial without a jury (maybe a stretch, but I think it’s a stimulating thought).
Continue reading Juries: The Original Fairness Calculator

Retiring At 30 Through Splitting Costs

An interesting writer named Mr Money Mustache wrote this week on MSN money explaining how he was able to retire at age 30 with all the money he saved on rent by sharing with his friends and future wife.

While he had a rather above-average salary in a location with relatively cheap housing expenses, I was impressed by his vision of home-sharing as a path to financial and career freedom. Though personally, I don’t think my fiancee and I could keep my spending that low with those incomes, sharing a bedroom or not! You can read the inglorious details of his year-by-year savings in the original article.

Homeowners: Have A Spare Bedroom?

There are many reasons that a family or individual would choose not rent out spare bedrooms in their house. A homeowner might have a desire for more privacy, a fear of having bad tenants, or a need to keep a guest room free (perhaps because they have adult children who use them periodically).

But for many homeowners and empty-nest-ers, the primary reason there are spare bedrooms in their house is because they didn’t go to trouble of looking for renters.

The Ann Arbor Home Share program is looking to change that. It hooks up University of Michigan renters with local homeowners interested in finding tenants. This is a fantastic idea, because students and young professionals often face a scarcity of good housing resources, and homeowners can improve their retirement finances or keep their large houses with the help of the additional income. So many more cities could use this kind of forward-thinking leadership.

We have heard from people using Splitwise that our site is great for this managing and organizing this sort of arrangement. One user wrote to us recently:

“I have been using your system for about a month and love it! I am leasing rooms in the house I own…”

Non-traditional as it may be, we’re so happy to see Splitwise helps makes it easier for people to share space and live in rental harmony together.