NerdWallet: App Review
8.75/10
Basic App Info:
NerdWallet
Cost: Free
Availability: android & apple
App Intro
According to their website, NerdWallet helps you get the most from your money. You can discover what you need to master your money with a NerdWallet account. By downloading it, you’ll see the big picture, receive tailored insights, and get clear next steps — all in one place. Start with your financial goals and choose from the following: credit cards, investing, insurance, student loans, mortgages, personal loans, banking, or travel.
The app includes helpful tools like side-by-side comparisons, smart calculators, and straightforward simulators to help you make sense of your options and provides tailored insights that help their team of experts recommend things like the best credit card for your spending habits, simple ways to up your credit score, and more.
The App
Features
The four main components of the NerdWallet app in 2021 include a credit overview, cash flow insights, net worth calculations, and optimization tips in addition to the homepage that summarizes those things and more on one screen. After getting set up, you can see personalized insights, set new goals, learn about different credit cards and mortgage offers, and more.
In addition to that, the app easily links to the NerdWallet Smart Money Podcast where you can either tune in or read episodic highlights.
Likes/Dislikes
Likes
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Setup is straightforward, syncing is relatively seamless, and the display is simple.
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Data security is their #1 priority: According to their website, “We always have your security in mind. Rest easy knowing your data is protected with 128-bit encryption.”
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There’s a wealth (no pun intended) of financial information at your fingertips in a way that’s clear, concise, and not confusing for the average consumer.
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The comparison tool is a great resource for people interested in seeing different options for things like credit cards, mortgages, investment options, etc.
Disikes
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The Home page is visually clunky — it appears like it’s riddled with ads even though it’s primarily additional NerdWallet features like the website, podcast, etc.
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Free app = ads. They provide an advertiser disclosure that explains how they make money on their free app, but it does make the recommendations feel potentially illegitimate or bought.
App Ratings, Size, & Category
RATINGS
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4.8 / 5
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4.6 / 5
SIZE
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68.1 MB
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94 M
CATEGORY
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Finance
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Finance
The Backstory
The NerdWallet mission is “to provide the tools, information, and insight people need to navigate all of life’s financial decisions. So they can easily find what they need and get back to life.”
Their website also broadcasts the following: “We’re NerdWallet. And we’re not your typical finance company. We believe that everyone should be able to make financial decisions with confidence. We’re building a team of Nerds with the knowledge, passion, and skills to make that happen.”
The Backstory
NerdWallet won 2 awards in 2020 and 5 awards in 2019. In 2020, NerdWallet won Best Company Compensation and Best CEOs for Diversity. In 2019, NerdWallet won Best Company Perks & Benefits, Best Company Compensation, Best Company Happiness, Best CEOs for Diversity, and Best Product Team 2019.
The Bottom Line
If you’re looking to take your finances more seriously but don’t know where to start, the NerdWallet app is a great option. It doesn’t have all the bells and whistles that a paid specialty app may offer, but for a free app, it does have capabilities like financial summaries, robust comparison calculators, and an impressive library of financial resources (including podcasts, FAQs, and more). They’re explicit about their focus on cybersecurity, so at the very least, you can rest assured that the information you share (bank info, salary, personal details) is safe with NerdWallet.