How to Use NerdWallet

• 5 October 2021 | 1467 Views | By Abhinav Mishra

Right financial decisions can help individuals achieve financial independence and reduce their liabilities a lot sooner than they have planned. There are so many areas to take care of while managing finance. It gets difficult for an individual to know everything. One of the ways to ensure you are making the right financial decision is by taking help from platforms like NerdWallet.

What is NerdWallet?

NerdWallet is not a regular finance company that gives financial advice to you. The company aims to make every individual educated enough so they can make their financial decisions with confidence. It aims to help you gain confidence by providing you with information, tools, and insights to navigate all your financial decisions.

NerdWallet is totally free and supported by recommendations and offers from financial product providers.

How does NerdWallet help an individual?

If you need expert info, objective advice, or helpful tools to answer your money questions, NerdWallet is the right platform for you. Below are the different areas in which NerdWallet can assist you:

Credit Card – The platform helps you get the best credit cards as per your need. You can see a list of credit cards and learn about the rewards on offer, the points system, how to apply to them, and interest rates. 

Investing – NerdWallet helps you find the best brokers for stock trading, get the best financial advisors, plan and track your retirement investment. They create a clear path for you so you can achieve your financial goals.

Insurance – Insurance is a must-have for everyone, and with so many options available for insurance plans, most people waste hours looking for the right insurance plan. NerdWallet gives your car insurance quotes in less than 15 seconds. If you are looking for life insurance or insurance for your home, you can view the corresponding prices from the top insurance provider on a single page. 

Student Loans – The platform helps you find the best lenders or the right payment plan. If you have problems with your existing loans, you can reach out to NerdWallet to find better options. For example, if you are looking for a way to deal with student loan payments that you cannot pay, you can reach out to NerdWallet for the solution.

Mortgages – Based on your loan purpose (purchase or refinance), you can compare top mortgage lenders in your area. By comparing multiple lenders, you will be able to save a lot of money.

Personal Loans – If you are looking for a personal loan to consolidate debt or finance large purchases, you can look at this feature of NerdWallet. You can look for loans irrespective of the fact you have a good or bad credit score.

Banking – If you have a problem deciding which bank to open your savings account with, NerdWallet can help you. You may be looking for a high-yield savings account or a low-fee checking account. NerdWallet will make the journey very easy for you.

Travel – If you are a travel enthusiast and dream of a frequent vacation, NerdWallet helps you with tools and tips to help you compare and find the best travel card and loyalty programs.

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Why should I use NerdWallets?

Other than being completely free, you can use NerdWallet for the below reasons – 

Expert Info – The NerdWallet editorial team consists of over 80 Nerds that make even the most complicated questions around investment simple to understand.

Powerful tools – You get access to tools like a smart calculator, side-by-side comparisons, and many more that make financial decisions becomes very easy for you.

Personalized insights – If you share your financial profile with the team, you will start receiving personalized things like the best credit card for you, how to increase your credit score, and much more.

How to use NerdWallet services?

If you plan to use NerdWallet, you can signup on the platform by providing your name and email address. Alternatively, you can signup using your Apple or Google account.

Next, you have to set your answer for a security question. Once you are in, you will have to choose one of the three options – 

• Build and monitor credit score
• track my net worth
• manage my monthly cash flows

For example, if you want to track your net worth, you can select the option and provide details like cash in hand, investment, property, credit cards, and loans. To link your account to each of these categories, you will have to verify your mobile number.

On your dashboard, you will be able to see all the features NerdWallet has to offer you.

How does NerdWallet make money?

If you see different sections of NerdWallet, you will notice the company talks about many products and reviews them. They make money by promoting them. When you buy financial products (after the best match), they receive money from the referral fee from the financial company.

Is NerdWallet safe?

Yes, NerdWallet is safe to use. They have a reliable site and app for you to use. You can feel comfortable sharing information on the app. The company does not store bank credentials or passwords on its network. They use industry standards practices to keep your personal information secure and safe.