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What is the I Owe You (IOU) Tracker?

Explaining what is Lumio's I Owe You Tracker, how it works and how to make the most of it?

Charlie Richardson avatar
Written by Charlie Richardson
Updated over a week ago

What is the I Owe You (IOU) Tracker?

Your simple balance as a couple

Lumio’s I Owe You (IOU) Tracker is your shared balance — an instant snapshot of who owes who and how much. It’s designed to save couples from endless money transfers or awkward “who paid last?” conversations.

Why it matters

Every couple manages shared finances differently. Some split 50:50, others 70:30, and some base it on salary. With so many bills and expenses often paid from personal bank accounts and credit cards, keeping track can get messy.

That’s where Lumio’s IOU Tracker comes in. It gives you:

  • A single source of truth for shared spending

  • A customisable split that suits your relationship

  • Clarity on where you stand at any moment

How the IOU Tracker works

  1. Set your spending split – choose how to divide shared costs (50:50, 70:30, or any ratio you agree on).

  2. Share expenses – move shared bills and payments from your Private Space into your Shared Space.

  3. Track contributions – Lumio automatically updates your IOU balance based on who paid for what.

When it’s time to settle, just tap Mark as settled up to reset the balance to £0.

Setting up or adjusting your IOU Tracker

To set your IOU split:

  1. Go to your Shared Space (tap your profile icon, then select Shared Space).

  2. Open the Spending tab.

  3. Find the IOU Tracker widget at the top. (If you can’t see it, double-check your partner has joined your Shared Space.)

  4. Tap Adjust Ratio.

  5. Choose your split using one of three options:

    • Slider – drag to the percentage you want.

    • Type – enter the exact split.

    • Presets – pick a standard option (e.g. 50:50).

  6. Tap Apply IOU Ratio.

Your IOU Tracker will instantly update with the new split.

How to make the most of it

  • ✅ Invite your partner to Lumio and join your Shared Space.

  • ✅ Set the right ratio that feels fair for your relationship.

  • ✅ Share all joint expenses (bills, groceries, date nights, etc.) into your Shared Space.

👉 Do this, and your IOU Tracker becomes the simplest way to stay financially fair as a couple.

✅ With Lumio’s IOU Tracker, you’ll always know exactly where you stand — no spreadsheets, no stress, no awkward money chats.

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