Your I Owe You Tracker is your rolling balance and internal ledger as a couple. To understand more about your I Owe You Tracker and how to make the most of it - go to this guide.
How is your I Owe You Tracker calculated with Lumio?
Your I Owe You Tracker calculates all your spending in a Shared Space based on who paid for what, and how much.
Every transaction in your shared space is added to the ledger. So make sure you share every shared bill or expense to your Shared Space to get a single source of truth. You can learn about sharing transactions here.
Your IOU amount is determined by the transaction amount (£GBP) shared to your Shared Space and the Ratio you set for your IOU Tracker. Your IOU Tracker is set at 50:50 split by default - read more about adjusting your IOU Tracker here.
The more transactions you share from your Private (Personal) Space to your Shared space the less you will owe or the more you will be owed.
For example:
User A shares a £10 purchase from Amazon for a new house mop.
User B shares a £20 purchase from Sainsbury's for some Groceries.
If the IOU Tracker is set at 50:50, it will display that:
User A owes User B £5.
When you connect a Joint account to your Shared Space, the spending is split 50:50. You can read more about managing your Joint account with Lumio here.