How much does your mate owe you?

Thursday 31 May 2018
Luke Keioskie's picture
The Shaker

Small IOUs are leaving young Australians strapped for cash, with new research revealing our national unpaid mate debt is worth millions.

Statistics from bill splitting app Beem It shows more than half (68 per cent) of Australians have lent money to a friend and never got it back.

Although in the red, people are willing to let debts between mates slide, with rounds at the pub (67 per cent), buying communal items such as toilet paper (64 per cent), covering the taxi (56 per cent), and paying for dinner when restaurants don’t split the bill (52 per cent), among the most likely to be forgiven and forgotten.

Not wanting to have the awkward conversation, Australians are avoiding asking for their money back too, because the amount is considered too small (25 per cent) or they’re too embarrassed (19 per cent).

The second most famous Robbie and self-confessed #broke guy, Cameron Robbie, says it’s easy for Australians to get back in the black.

“We’ve all been there. Buying that round of drinks, or shouting brunch for a friend – we all think it’ll come out in the wash, right?” Cameron said.

“But when an awkward amount of time passes and payday is just a little too far away, you find yourself with a tricky dilemma – do you chase your mate down for the money they owe you, or simply live on a pack of rice crackers for the next week?”

Beem It CEO Mark Wood said the app enables Aussies to get paid instantly, no matter who they bank with.

“We’re excited to bring instant payment technology to all Australians, ensuring that everyone can pay, request and split money via their smartphones, regardless of who they bank with,” Mark said.

“Beem It uses real-time banking technology to transfer funds between banks and ensure money doesn’t get in the way of great life moments.”