For over a decade I used Intuit’s Mint app to track my net worth, expenses, and credit score. I was tired of dealing with the sync issues in Mint so I started to look elsewhere. That is when I found NerdWallet. Like Mint, NerdWallet is free and tracks your net worth, expenses, budgets, and credit score. I was able to connect all of my accounts (banking, credit, loans, retirement, and investment) to NerdWallet without any hiccup. Open the app and the first thing you will see is your TransUnion credit score, net worth, monthly cash flow, and an optimize button that searches for cash back offers and better rates.
Credit Score – Click on your credit score and your entire TransUnion credit history will be displayed with payment history, credit utilization, age and mix of accounts, balances, and recent inquiries. NerdWallet also offers credit simulator tools to help you improve your credit fast.
Cash Flow – The Cashflow button shows you your monthly budget, number of days left in the month, and how much money you spent versus what’s left. You can compare previous months, check out your top categories of spending, check out the top places you spend money, audit your recent transactions, and view upcoming bills. The built-in categories included are Restaurants, Groceries, Shopping, Entertainment, Transportation, Travel, Rent/Mortgage, Health, Utilities, and Other. These categories are automatically assigned to your transactions, however you can change the category of each transaction if you’d like.
Net Worth – The net worth home page will show you what you have vs what you owe. It takes into account all of your retirement, banking, and investment accounts along with your mortgage and Redfin estimated home value. You will also see all of your accounts balances listed in this page. Swipe to the right and you can see your assets split up into Checking, Savings, Investments, and Retirement. Swipe again and you will see your total debt in credit cards and loans (excluding mortgage). Finally, you can swipe right one last time to see your home equity summary showing your home value compared to your mortgage balance.
If I have anything to complain about, it’s that NerdWallet does not sync with well known cryptocurrency brokerages like Coinbase or crypto interest accounts like BlockFi, and like Mint, NerdWallet cannot sync with Robinhood at this time.
NerdWallet helps members save an average of $50 each month and they provide highlights on upcoming bills, recent transactions, and the top places you spend money each month. Their streamlined user interface makes it very easy to budget and track your finance. If you are interested in personal finance, I recommend you try NerdWallet.
