Travel Money Helps You Manage Joint Travel Expenses

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Traveling with friends and paying for gas or meals? Sometimes, it might be difficult to remember all the joint expenses you paid for, so unless you keep track of them in your notebook, you may want to try this free Android app for your smartphone or tablet.

A powerful money management app, Travel Money is a neat digital assistant designed to help you keep track of the expenses you might split with your friends or colleagues while traveling. It’s feature-packed and sports a modern interface, supporting multiple currencies and creating comprehensive charts and expense stats on the fly. Let’s see if you can benefit from its features.

Overview

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Travel Money makes your group travel budget management a tad easier, so if your group manager or even all team members have this app installed, you can manage your finances in a joint, streamlined mobile app. Simply put, the app will tell you who, how much and to whom each member of your group owes.

Once you install the app, you can start adding Participants, or contacts. Every participant card gives you an option to attach an email for easy communication from within the app. So, basically you need to create a trip project and add all relevant parties that contribute to the trip’s financial side.

For example, if you travel with two friends, and you were the one who paid for the gas, you should enter the total amount you paid for the gas and the app divides that amount evenly. Alternatively, the app gives you an option to split the amount as you wish.

Whenever the app notices a very disproportionate division, it notifies you and gives you three options to proceed – reset amounts, offset all and move to an empty party.

Features

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Travel Money also has a handy currency converter, so whenever you travel abroad you don’t need to look for the nearest bank for accurate rates – the app pulls data from the European Central Bank. Once it converts the local currency to your native currency, it adds the spending to your stats.

Once you are ready to create reports, you can see all the detailed stats you can filter and save to a CVS spreadsheet. From there, you can email it to your friends or colleagues.

Another cool feature of TM is you can see your spending on a world map.

Interface and usability

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The app’s UI looks neat, intuitive, although a bit sluggish, but you won’t need to use a tutorial or read the FAQs to start working with it.

The free version lets you save up to 50 payments per trip, and depending on your trip expenses you may or may not fit into it, but you can always create a new trip project. However, unlocking unlimited payment entries will cost you $2.49.

Pros

  • Travel Money makes joint budget management easier when you are traveling.
  • It saves your reports in CVS Excel file and emails them to your friends.
  • It displays your spending on a world map.
  • It has an accurate currency converter that pulls current rates from the European Central Bank.
  • Online synchronization and sharing options.
  • Displays spending by person, category, and currency.
  • Modern UI.

Cons

  • Could benefit from upgrades in the responsiveness and freeze department.

Conclusion

Even though my personal preference remains with good old Excel, Travel Money is a more modern approach to travel budgeting. If you pan a joint trip with your friends or colleagues, you may want to try it out and see if it works for you. The app has quite powerful features that will make expenditure tracking and splitting a breeze.