Last weekend, I went away with 6 of my friends to Napa. We had an amazing time (more on that later!). But one of the most difficult parts of the trip was coordinating who paid for what and making sure that everyone was paid back fully.
Luckily, a friend suggested we all download the app Venmo to pay each other back, rather than us all carrying lots of cash across the country.
This app reminds me in some ways of Paypal, at least in concept. You can easily transfer money to and from friends, even if you have different banks, etc.
The most difficult part (which really isn’t hard) is setting up your account. I would recommend linking to a bank account, since you need one in order to cash out when someone pays you. It’s also easier if you link it to your Facebook, so your friends can find you easily but that’s totally your call! You can request to be friends with people in other ways, such as finding them through their phone number.
Once you’re all set up, you can start sending money back to your friends – or even requesting they send you a certain amount. If you have a balance in your account, you can “cash out” and have the money deposited directly into your bank account. The transfers only take a few days, at most.
This is a great tool for twenty-something’s. Whether you’re splitting a meal, cab or even apartment utilities, it’s a quick and simple solution to make sure you don’t forget to pay someone back!