Australians are owed $6.2 billion from their friends

Six out of 10 Aussie mates need to be pursued for cash after splitting a group bill. (Photo: Getty)

Australians are owed a staggering $6.2 billion by their friends, and that’s not even including family.

The massive figure, calculated from a research of more than 1000 people conducted by financial tech firm Beem It, will come as no surprise to those who have organised group events, gifts or trips.

Many of those organisers—41 per cent—end up paying for an average of 10 per cent of the bill themselves because of their slack mates.

“We want to be indebted to our friends for the fun times – but not literally in debt to them,” said Beem It chief operating officer Nathan Moyes.

Almost half the people surveyed admitted to knowing that one person that avoids paying their share of the bill. Six out of ten needed to be pursued for cash.

While pursuing friends for money can be socially awkward, the $6.2 billion figure suggests it can add up for those footing the bill. Sixty-one per cent of respondents confessed to not paying the organiser immediately, and a quarter said they took up to a week to pay their share.

Beem It, which is a joint venture between National Australia Bank, Westpac and Commonwealth Bank, had good motive for the research, as it has created a mobile app that allows instant money transfer between individuals (regardless of their bank).

The company suggested organisers collect payments before or at the start of the event to manage the slackers, and use technology to keep tabs on people.

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