Software · head to head
Splitwise vs Betterment
The short version
- Only Splitwise has a free tier, so it costs nothing to try first.
- Each has a real cost: Splitwise the free tier limits how many expenses can be added in a day and shows adverts; Betterment digital automated investing charges $5 per month fee for accounts under $24,000 balance
- They diverge on capability: Splitwise covers Bill splitting, Betterment covers Automated investing.
Where they differ
Only the attributes on which Splitwise and Betterment actually diverge.
| Attribute | Splitwise | Betterment |
|---|---|---|
| Starting price | Free | $5/month |
| Pricing model | freemium | subscription |
| Free tier | Yes | No |
| Founded | 2011 | 2008 |
Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Unknown).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Splitwise
- Bill splitting
- Expense tracking
- Group management
- Settlement tracking
- Venmo
- PayPal
Only in Betterment
- Automated investing
- Retirement planning
- Financial advisory
- Goal tracking
- Bank accounts
- Investment accounts
Both cover
- Web support
- IOS support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Splitwise
- Splitting shared household bills between flatmatesnot Betterment
- Tracking who owes what on a group tripnot Betterment
- Settling up across currencies on the Pro plannot Betterment
- Recording IOUs between friends over timenot Betterment
Betterment
- Small investors starting with automated investing at no minimum balancenot Splitwise
- Fee-only digital wealth management for accounts under $24,000 via $5/month flat feenot Splitwise
- Premium advisory access for high-net-worth individuals with $100,000+ balancenot Splitwise
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Splitwise
- The free tier limits how many expenses can be added in a day and shows adverts
- Transaction import works in the United States only
- Currency conversion, receipt scanning, charts and expense search are all Pro features
- The Pro price is not shown on the product page
Betterment
- Digital automated investing charges $5 per month fee for accounts under $24,000 balance
- Premium advisory service requires minimum balance of $100,000 in eligible investments
- Foreign transaction fees apply to checking account (though reimbursed after the fact)
- High-balance fee discounts only available above $1,000,000 account balance
Pricing, plan by plan
Splitwise
Free- FreeFree
- Bill splitting
- Group tracking
- Mobile app
- Splitwise Pro$4.99/month
- Receipt scanning
- Advanced analytics
- No ads
Betterment
$5/monthNo published plan breakdown. See the Betterment review.
Which should you pick?
Choose Splitwise if
- You need bill splitting.
- You want to start without paying.
- You work on Web, IOS, Android.
- You also want expense tracking.
Choose Betterment if
- You need automated investing.
- You work on Web, iOS, Android.
- You also want retirement planning.
Questions people ask
- Is Splitwise or Betterment better?
- Neither clearly leads. Splitwise starts at Free and Betterment at $5/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Splitwise or Betterment?
- Splitwise has a free tier; the other does not. Paid plans start at Free for Splitwise and $5/month for Betterment.
- Does Splitwise or Betterment run on more platforms?
- Splitwise runs on Web, IOS, Android. Betterment runs on Web, iOS, Android.
- Can I use Splitwise for free?
- Yes. Splitwise has a free tier, so you can try it without paying. Betterment starts at $5/month.
- What is Splitwise best used for?
- Splitwise is most often used for splitting shared household bills between flatmates, tracking who owes what on a group trip, settling up across currencies on the pro plan, recording ious between friends over time. Of those, splitting shared household bills between flatmates and tracking who owes what on a group trip are not what Betterment is typically brought in for.
- What can Splitwise do that Betterment cannot?
- Splitwise covers Bill splitting, Expense tracking, Group management, Settlement tracking. Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. Both handle Web support, IOS support, Android support.