Expensure.com - Forget IOU's

You know what a pain it can be to figure out flat bills when you've got three roommates, all sharing cable/internet/phone, plus other standard expenses like hydro and electricity. If someone doesn't pay their part, everybody else is screwed. It's easy to get bills jumbled up when IOU's are rampant. That's why a couple of roommates got together and decided to make a web app to solve the whole circular debt problem. The site is called Expensure, and it's kind of like BillMonk, but with more of a focus on roommates and travel buddies instead of flat out social lending. Expensure takes care of your flat expenses for you easily and efficiently. Simply create a ledger for your flat or trip, add your roommates/tripmates, then add the expenses, and Expensure works out the rest-- who owes what-- with their Circular Debt Algorithm. It also works on your mobile and all you have to do is join. It's free.

"Expensure is a free, secure, online tool that helps flatmates and travelmates track, manage and resolve their shared bills and expenses. Expensure uses a Circular Debt Resolution™ algorithm to work out who owes who what in just a few seconds, saving you from the pain of working it all out manually."

Expensure is a very useful web app. It's got a super easy interface; it works out who owes what with minimal trouble, and it's free.

There's a lot of similar sites out there already. Will Expensure manage to draw an audience and hold onto them?