If you live with people or travel often, Splitwise is genuinely useful — it keeps a running tally so nobody has to do mental math. This isn’t a knock on it. It’s about a different job.
Balances vs terms
Splitwise answers "who owes who, right now." It doesn’t answer "what did we agree would happen if someone cancels the trip after the deposit’s paid?" That second question — the terms — is where one-time arrangements with real money go wrong, and it’s exactly what a ledger isn’t built to hold.
Use both
For ongoing shared expenses, keep using your split app. For a one-time arrangement with stakes — a trip deposit, a shared big purchase, a cost where cancellation matters — back it with a short written agreement that records the split, the deadlines, and what happens if plans change. Both people sign; both keep a copy.
It’s the difference between tracking the money and agreeing the terms. → Make a shared-cost agreement