How to keep track of money friends owe you
If friends owe you money for dinner, tickets, a ride or another shared expense, record the person, the amount and the reason as soon as it happens. Keep that balance in one place, send a reminder when you are ready, and mark it settled when they pay you back. HeyMoney is built for exactly this kind of informal IOU: it needs no access to your bank account, and repayment happens by bank transfer, Bizum, Venmo, cash or any method you agree on.
A simple way to track an IOU
You only need three pieces of information to start:
- 1Who owes you: Add the friend or family member.
- 2What they owe: Enter the amount and what it was for, such as “Friday dinner, €12”.
- 3What happens next: Send a reminder when it is useful, then mark the debt as settled once the repayment arrives.
That takes less effort than scrolling through old messages or trying to remember whether someone already paid you back.
Why notes and chat messages stop working
A note or a message is enough for one small expense, but it gets hard to trust as soon as the balance changes. The original amount ends up buried in a conversation, a partial repayment never gets recorded, and you forget what that transfer or cash payment actually covered.
A dedicated IOU record keeps the amount, the person and the reason together. Both sides then start the repayment conversation from the same place.
For informal debts, not full expense accounting
HeyMoney fits a one-off or occasional debt between two people: a friend paid for the pizza, covered concert tickets, or lent you money for a few days. It tracks who owes what and helps you follow up without turning a simple repayment into a spreadsheet project.
For a group trip, shared rent, or a household where many expenses are split repeatedly, a group expense app is a better fit. HeyMoney is most useful when the question is simply: who owes me, how much, and has it been paid?
Reminders without the awkward message
When you are ready to follow up, one tap sends a HEY: a short, friendly reminder by SMS or email that includes your name and the amount. Coming from a separate app, the request feels more neutral than reopening an old chat with “hey, you still owe me”.
The reminder does not replace the conversation. It gives you a clear record and an easy way to prompt repayment while keeping the tone light.
Repay outside the app, then mark it settled
HeyMoney records the debt and its status. It never asks your friend to send money through the app or to connect a bank account. They repay you by bank transfer, Bizum, Venmo, cash or whatever works for both of you, and once the money arrives you mark the debt as settled so your open balance stays accurate.
A practical example
You pay €36 for dinner for three people. One friend owes you €12.
- Add the friend and enter “Dinner, €12”.
- Send a HEY when you want to follow up.
- Receive the €12 by the payment method you both use.
- Mark the debt as settled.
The record stays focused on the one thing you need to know: whether that €12 is still open.
Frequently asked questions
Is there an app to keep track of money friends owe me?
Yes. An IOU tracker keeps the person, the amount, the reason, your reminders and the repayment status together. HeyMoney is built for informal debts between friends and does not ask for access to your bank account.
Can I track money someone owes me without connecting my bank?
Yes. HeyMoney never asks for a bank login or bank connection. You record the debt yourself, get repaid outside the app, and mark it settled afterwards.
Can I remind someone they owe me money?
Yes. One tap sends a short, friendly reminder by SMS or email, with your name and the amount, so you do not have to rebuild the request from an old chat. WhatsApp reminders are coming soon.
Does my friend need an account to get the reminder?
No. The reminder reaches them by SMS or email even if they have never used HeyMoney. If they do have an account and you are connected, they also get a copy inside the app.
Can someone repay me through HeyMoney?
No. HeyMoney records the debt and its status; the payment itself happens outside the app — bank transfer, Bizum, Venmo, cash or whatever you agree on. Then you mark it as settled.
Is HeyMoney the same as a group expense-splitting app?
No. Group expense apps are useful for trips, shared homes and many expenses across several people. HeyMoney is aimed at simpler informal debts, such as one friend covering dinner or tickets for another.
What if I only need to track one small debt?
You can record just that one debt. Add the person, the amount and the reason, then close the record when the money comes back. No budget to build, no bank to connect.
Keep the balance clear
Record the IOU when it happens, send a HEY when the timing feels right, and mark it settled when the money arrives. That is enough to stop a small debt from getting lost in memory or chat history.