Should I Build It Should I Build It
01 Jul 2025
Personal Finance Payments

A mobile application to track group expenses and recommends payments

Confidence
Engagement
Net use signal
Net buy signal

Idea type: Swamp

The market has seen several mediocre solutions that nobody loves. Unless you can offer something fundamentally different, you’ll likely struggle to stand out or make money.

Should You Build It?

Don't build it.

Your are here

You're entering a crowded space for group expense tracking apps, a category we call a 'Swamp' because there are many mediocre solutions already available. With 12 similar products already launched, expect significant competition. These apps aim to simplify how groups manage and split expenses. While there's some user enthusiasm for easier-to-use alternatives to established players like Splitwise, as well as criticisms around transaction limits and subscription models, the overall engagement for these types of apps is low. The lack of positive 'use' or 'buy' signals further underscores the challenge. To succeed, you'll need to offer something genuinely different or cater to a very specific, underserved niche.

Recommendations

  1. Start by thoroughly researching why existing group expense tracking solutions haven't truly captivated users. What are the pain points that current apps fail to address effectively? Focus on understanding the specific unmet needs or frustrations within group expense management before investing further.
  2. If you proceed, identify a specific niche or user group with unique expense tracking challenges. Instead of trying to compete with Splitwise head-on, consider focusing on a narrower segment like student travel groups, specific types of events (e.g., weddings, conferences), or even families managing shared expenses. Tailoring your app to a niche can help you stand out.
  3. Explore the possibility of creating tools or integrations that enhance existing expense tracking platforms rather than building a standalone app. Could you develop a plugin for Splitwise or another popular app that adds missing functionality or simplifies a specific task? Partnering with established players could be a more viable strategy.
  4. Carefully consider your pricing model. Criticism of subscription-based expense tracking apps suggests users may prefer alternative options like one-time purchases or freemium models. Investigate which pricing strategy aligns best with your target audience and their willingness to pay.
  5. Given the competitive landscape, research adjacent problems related to group finance that might offer more promising opportunities. For instance, could you build a tool to help groups budget collaboratively or invest together? Exploring related areas might lead to a more differentiated and valuable offering.
  6. Before dedicating significant time and resources, validate your core assumptions about user needs and your solution's unique value proposition. Conduct user interviews, run surveys, and create prototypes to gather feedback and ensure you're on the right track. Focus groups, even with friends can help get early validation.

Questions

  1. What specific, underserved needs can your app address that aren't already being met by existing solutions like Splitwise, Tricount or others?
  2. How will you differentiate your app's user experience or functionality to avoid being perceived as just another Splitwise clone?
  3. Given the negative sentiment towards subscription models, what alternative monetization strategies could you employ while still ensuring the long-term sustainability of your app?

Your are here

You're entering a crowded space for group expense tracking apps, a category we call a 'Swamp' because there are many mediocre solutions already available. With 12 similar products already launched, expect significant competition. These apps aim to simplify how groups manage and split expenses. While there's some user enthusiasm for easier-to-use alternatives to established players like Splitwise, as well as criticisms around transaction limits and subscription models, the overall engagement for these types of apps is low. The lack of positive 'use' or 'buy' signals further underscores the challenge. To succeed, you'll need to offer something genuinely different or cater to a very specific, underserved niche.

Recommendations

  1. Start by thoroughly researching why existing group expense tracking solutions haven't truly captivated users. What are the pain points that current apps fail to address effectively? Focus on understanding the specific unmet needs or frustrations within group expense management before investing further.
  2. If you proceed, identify a specific niche or user group with unique expense tracking challenges. Instead of trying to compete with Splitwise head-on, consider focusing on a narrower segment like student travel groups, specific types of events (e.g., weddings, conferences), or even families managing shared expenses. Tailoring your app to a niche can help you stand out.
  3. Explore the possibility of creating tools or integrations that enhance existing expense tracking platforms rather than building a standalone app. Could you develop a plugin for Splitwise or another popular app that adds missing functionality or simplifies a specific task? Partnering with established players could be a more viable strategy.
  4. Carefully consider your pricing model. Criticism of subscription-based expense tracking apps suggests users may prefer alternative options like one-time purchases or freemium models. Investigate which pricing strategy aligns best with your target audience and their willingness to pay.
  5. Given the competitive landscape, research adjacent problems related to group finance that might offer more promising opportunities. For instance, could you build a tool to help groups budget collaboratively or invest together? Exploring related areas might lead to a more differentiated and valuable offering.
  6. Before dedicating significant time and resources, validate your core assumptions about user needs and your solution's unique value proposition. Conduct user interviews, run surveys, and create prototypes to gather feedback and ensure you're on the right track. Focus groups, even with friends can help get early validation.

Questions

  1. What specific, underserved needs can your app address that aren't already being met by existing solutions like Splitwise, Tricount or others?
  2. How will you differentiate your app's user experience or functionality to avoid being perceived as just another Splitwise clone?
  3. Given the negative sentiment towards subscription models, what alternative monetization strategies could you employ while still ensuring the long-term sustainability of your app?

  • Confidence: High
    • Number of similar products: 12
  • Engagement: Low
    • Average number of comments: 3
  • Net use signal: 27.1%
    • Positive use signal: 27.1%
    • Negative use signal: 0.0%
  • Net buy signal: 0.0%
    • Positive buy signal: 0.0%
    • Negative buy signal: 0.0%

This chart summarizes all the similar products we found for your idea in a single plot.

The x-axis represents the overall feedback each product received. This is calculated from the net use and buy signals that were expressed in the comments. The maximum is +1, which means all comments (across all similar products) were positive, expressed a willingness to use & buy said product. The minimum is -1 and it means the exact opposite.

The y-axis captures the strength of the signal, i.e. how many people commented and how does this rank against other products in this category. The maximum is +1, which means these products were the most liked, upvoted and talked about launches recently. The minimum is 0, meaning zero engagement or feedback was received.

The sizes of the product dots are determined by the relevance to your idea, where 10 is the maximum.

Your idea is the big blueish dot, which should lie somewhere in the polygon defined by these products. It can be off-center because we use custom weighting to summarize these metrics.

Similar products

Relevance

Push App - Simplify group expenses

30 Sep 2024 Fintech Travel Productivity

Designed to streamline the management and tracking of group expenses, especially during travel

Users are excited about Push App as a straightforward, simple solution for managing and splitting group expenses, particularly during travel, viewing it as a potential Splitwise alternative. Its easy four-step process is appreciated. Many are eager for future updates and express a need for the product. There are requests for Android or web versions and a currency conversion feature. The app name is well-received, and users wish the creator good luck. One user inquired about expense splitting patterns and future features.

Users criticized the Product Hunt launch for missing screenshots, a significant oversight. There is a sentiment that Splitwise requires upgrades. Additionally, users expressed a desire for Android and web versions of the product in the future.

mcbebu

I've always thought Splitwise could use an upgrade! Excited to try this one out!

emma_schneider

Great to see such a thoughtful tool for traveling! Managing group expenses can be a pain, so this is definitely a much-needed solution. Excited to check out the core functions you’ve implemented already, and I’m sure the upcoming updates based on user feedback will make it even better. Keep up the awesome work, @dennykort ! Looking forward to seeing how this evolves!

tony_creator

Wow, this sounds like an amazing project! Managing money while traveling can be such a hassle, and it's great to see a tool dedicated to making it easier. I love that you’re focused on user feedback to continue enhancing the app—truly a user-first approach. Can’t wait to try it out and see what features you roll out next. Keep up the fantastic work! 🚀✨ @dennykort

diana_bikmullina

Wow, this sounds fantastic! I love the concept, but it would be amazing to see an Android or web version in the future. Can’t wait for the new updates—keep up the great work!

shahar_lotan

Congratulations on the launch 🎉 Push App looks cool. i could sure better manage my expenses when traveling with friends. I’ve been developing ConverForm.com, a conversational forms builder that turns static forms into engaging, conversational experiences—might be a great way to connect with these early adopters. All the best ahead!

bernice_garritson1

Definitely a useful tool to have! It’ll be exciting to see how it all comes together!

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Relevance

Expen6 - Manage, track and split your expenses with ease

11 Jul 2023 Budgeting Personal Finance Money

Expen6: Simplify group expenses, split bills & settle debts effortlessly. Create groups, track expenses, split costs & settle up. The ultimate app for seamless expense management.

Users find the expense tracking app useful, with one requesting photo attachment functionality. Several users congratulated the launch of Expen6. One user suggested checking out Fold Money.

The primary criticism revolves around comparisons to existing solutions like Splitwise. Users are questioning the differentiation and unique value proposition of the launched product in relation to established alternatives.

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75
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75
25.0%
Relevance

Let's Split - Share, track and settle group expenses all in one app

03 Nov 2023 Fintech Travel Android

Let's Split is an intuitive mobile app that simplifies expense sharing for friends, roommates, and travelers, allowing users to effortlessly track, split, and settle group expenses in a user-friendly, secure and fully integrated platform.

The product is seen as a great concept, specifically targeting "broke yuppies" who are perceived to need a solution like this.

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73
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Splito: An Open-Source iOS App for Efficient Group Expense Management

17 Oct 2024 Personal Finance

Introducing Splito - An open-source iOS app designed to simplify group expense management!Have you ever found yourself in a confusing situation after a night out with friends or a weekend trip, trying to figure out who owes what? Splito aims to eliminate that hassle.Key Features:- Effortless expense tracking- Flexible bill splitting options- Support for multiple payers- Transparent transaction historyWe built Splito to make sharing costs easy and stress-free, allowing you to focus on enjoying your time with friends and family instead of worrying about finances.Check it out on theApp Store - https://apps.apple.com/app/id6477442217GitHub - https://github.com/canopas/splito.We'd love to hear your thoughts! What features would you like to see next? Your feedback is invaluable as we continue to improve this project.

Introducing Splito for easy group expense management.

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4
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PayMeBack.lol - Simple, no-nonsense group expense tracking

05 Apr 2024 Travel Payments Money

Share expenses and split bills the easy way. 💸 A simple, no-nonsense accounting tool for group expense tracking. No accounts, no payments, no downloads necessary.

Users are excited about PayMeBack.lol, viewing it as a helpful alternative to Splitwise, particularly appreciating its potential for easier expense tracking among roommates and groups. There's enthusiasm for the concept and congratulations on the successful launch. Some users suggest Tricount as an alternative, while others request advanced features like AI-powered expense tracking with Telegram integration. The Splitwise transaction limit is one motivation for users to seek alternatives.

Users criticized Splitwise for limiting the number of transactions per day, which impedes group payments. Another criticism was the dismissive tone suggesting Tricount as an obvious solution.

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118
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Relevance

SplitIn - Effortlessly split expenses

06 Feb 2025 Productivity Finance

Splitin is a free, no-fuss way to track group expenses—built for mobile, designed for simplicity, and free from paywalls & clutter. Add Expenses, Split, Settle. Done. No fancy graphs, no subscriptions—just effortless expense tracking.

SplitIn users express satisfaction with the app, citing its clean UI and effectiveness in splitting expenses, particularly for trips. An early user appreciates bug fixes and the app's overall benefits. Some users are interested in using it to track leisure resource spending. Concerns are raised about other expense tracking apps eventually requiring payment, implying a preference for a free or affordable solution like SplitIn.

Users express strong dislike for subscription-based expense tracking apps. The sentiment indicates a preference for alternative pricing models or one-time purchase options, as subscription models are unwelcome in this product category.

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An app that tracks expenses by splitting bills

28 Apr 2024 Fintech Personal Finance

Living with college friends, 99% of my transactions are split amongst people, and as such me and my friends use bill splitting apps a lot. A problem with this is that this has made it very difficult for me to track my expenses. Since different payments are made by different people , part of those would be my expensesSo I thought if my bill splitting app itself also tracked my expenses, if everyone simply used this app to split their payments, each members expenses would get tracked automatically. And this led me to create TrueCentsI'd been working on it for a few months but until now its just been me and a few friends on the app. Now I'd like to get more people to try and use the app, hence this post.Co-incidentally recently splitwise has become very restrictive in its free tier, which makes me think this can be even more useful.The app is made using flutter and firebase currently, but I do plan to switch from firebase if there's significant interest in the productLooking forward to your feedback and suggestions

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