Well Kept makes it easy to manage shared expenses with roommates, family members, or partners.
Recording a Shared Expense
Go to the Expenses section in the app.
Click "Add Expense" to start a new entry.
Enter the details:
Describe what was purchased, for example "Groceries" or "Internet Bill".
Input the total cost of the expense.
Select the household member who originally paid for the item.
Choose which household members should share this cost.
Decide between an equal split or custom amounts for the expense.
Record the date when the expense occurred.
Optionally upload a receipt for proof of purchase.
Split Methods Available
The equal split option divides the cost evenly among all selected members.
Use the custom split option to manually set the specific share for each person.
The percentage split allows you to divide costs based on specific percentages, such as 60/40.
Viewing Balances
The app automatically calculates who owes whom:
Navigate to "Balances" to see your current financial standing.
Green indicates that someone owes you money.
Red indicates that you owe money to someone else.
The app optimizes settlements to minimize the number of transactions needed.
Settling Up
Standard Settlement:
Mark an expense as "Settled" once it has been paid back.
Add a note about the payment method if you wish to track details.
Venmo Integration (Premium Only):
Send one-click payment requests via Venmo.
The system automatically marks expenses as settled once paid.
This feature keeps everything synchronized between apps.
Monthly Reconciliation (Premium)
Premium users receive monthly reconciliation emails summarizing:
The total household spending for the period.
The individual contributions made by each member.
The current balances for all users.
Any pending settlements that need attention.
Unlimited Expenses
All plans include unlimited expense tracking, so there are no limits on how many expenses you can add.