Money (Photo credit: 401(K) 2013)

I’m all about making life easier and that’s why I have to share this new app with you.  It’s called Venmo and it’s basically a way to pay back all your debts to your friends instantly.

Say you are out to dinner with your friend and the restaurant only accepts cash (ugh -you should have done your homework before hand and skipped this place!). Your friend only has credit cards so you kindly pick up the tab because you have cash.  Now she owes you.

This scenario has happened to me time and time again and depending on the friend has either been an quick repayment or one that I’m waiting weeks to receive.  Enter Venmo…the instant way to pay people back.  Think of it as PayPal with your iPhone.

Make an account and link your bank account (don’t worry, it’s safe) and connect with other friends who also have accounts through Venmo.  Now pay them back and get payments instantly.  It’s really that simple.  I tried it out recently and it works perfectly.  It’s a good system for group payments too.  Check it out and let me know what you think!