Even after scholarships, financial aid and money from a part-time job, college is expensive.
In fact, according to the National Retail Federation, college students and their families plan to spend an average of $888.71 on back-to-school items like mini-fridges and textbooks. And that doesn’t include monthly costs like room, board or transportation, which CollegeBoard estimates to be more than $10,000 each year.
Luckily, while these costs add up, when it comes to splitting expenses this school year, you don’t need to write a check, withdraw cash from an ATM or make a trip to the bank. Zelle® makes it fast, safe and easy to share costs, send and receive money when you’re in college. All you need is your mobile phone and a bank account in the U.S.
Tips for Sharing Expenses with Roommates and Friends
Sharing is caring—especially in college. Here are a few ways to split expenses and share bills (without the awkwardness).
Split the cost for experiences
Just found out your favorite band is playing a few towns away and convinced your friends to be spontaneous groupies with you? Simply split the cost of the gas and snacks for the road without the hassle of ATMs and keep track of who paid or still owes within your Zelle activity feed. Then get back to your car karaoke performance and make some memories.
Spot your friend
We all have that one friend. The person who forgets their wallet or worse yet, loses their credit card. If you regularly offer to cover their late night coffee or share of pizza, it adds up. Luckily, it’s easy to get your money back. You can use Zelle to request even the smallest expenses, like the $2.50 they owe you for that midnight espresso shot.
Split groceries and utilities
Luckily, all six housemates don’t need to write separate checks or make trips to the ATM. If you’re the ‘Head Rent Payer,’ you can easily receive money from your roommates using Zelle. It’s also easy to request everyone’s share of water, electric or internet. No wads of cash necessary.
Back-to-school costs and monthly expenses during college quickly add up. Fortunately, you can use Zelle to split expenses with your roommates and friends.
Get started using Zelle this school year.