Frequently Asked Questions
1. Why Chat with Nerd?
Everything about Money should be easy, non-judgemental & fun. That's how your bank should have done things. And that is the idea behind Nerd - An assistant good with numbers, attitude to constantly learn & talk only when it's needed. Nerd will help you budget, plan out weekly targets, keep track of your spending and give you personalized insights. You don't have to do much of the thinking.
2. I already do expense tracking. How does budgeting help?
When you 'track' your spends, you realize where it went after you have already spent it. However, when you are 'budgeting', you figure out where will it go before you spend it. That helps you keep your finances in check & curbs any impulse shopping that leaves you out of money sooner than you wish for.
3. Budgeting is time consuming & uninteresting. How can Nerd help?
We get it. Budgeting seems like a long & tedious process of figuring out habits. That's why we created Nerd. You don't have to spend hours on budgeting. Nerd will dig into your spends & do all the math. Check out his superpowers:
1. Set spending limits on categories.
2. Plan my week.
3. Set reminders to text spend at your comfortable time.
4. Help you figure how much you can safely spend.
5. Re-adjust targets for you in case you overshoot. (We all do)
6. Provide you insights on your habits & so on.
Bonus point? Nerd is always keen to surprise you with some witty memes.
4. How does it work?
Texting is lightning fast but you already know that. So, simply text me your spends whichever way you like. You can text any personal spend. Nerd has built in algorithms to categorize them. And in case, you do beat the logic, Nerd will ask once & remember forever.
How to text a spend?
You can type anything like .. '2500 Amazon', Or '2500 '
How to delete or add refund?
You can reply (or swipe right) on your spend text and type 'delete' or 'refund'. That's it.
5. I overspend on online shopping. How can Nerd help?
Superpower # 1: Set spending limits on categories.
Don't wish to spend more than 5,000 on Online Shopping? or 10,000 on Grocery? No reason to sweat. Nerd will keep a track & alert you when you're about to reach the limit. You can check the remaining amount on your categories anytime & decide to spend accordingly.
6. I've more spends in upcoming week. How can Nerd help?
Superpower # 2: Plan my week
Have an odd purchase to make? Expecting more spends next week? Nerd can definitely assist you. While setting weekly targets, Nerd will ask if you wish to plan ahead. Based on the remaining budget, you can decide on what you wish to spend in the week & how much will you be left with for rest of the month.
7. I might forget to add spends. How can Nerd help?
Superpower # 3: Set add reminders
Set up a reminder with Nerd for whenever it's comfortable for you or, you can always text your expense later (not too late though). The convenience of quick chat allows you to record your expenses without any hassles & enables Nerd to keep a track of your spending without fail.
8. I like to shop but I want to know how much I can spend. How can Nerd help?
Superpower # 4: How much can I spend
Best part about budgeting is making an informed decision before you decide to make a purchase & Nerd will help you do just that. Ask Nerd & he'll calculate how much you can safely spend. If you wish to spend more then Nerd will figure out how that affects your remaining month & update you.
9. I overspent this week. What should I do?
Superpower # 5: Readjusting your limits
Don't worry. It happens. It takes a while to get used to budgeting. So give yourself time to adjust. In the meantime, Nerd will re-adjust your weekly limits based on the remaining budget & help you continue.
10. Can Nerd predict future?
Superpower # 6: How's my budget doing?
Nerd will calculate if the current spending behavior causes you to overshoot budget before your next salary. So yeah .. somewhat futuristic. Remember - predictions change everyday. So check with Nerd often.
11. I want to pay off my debt asap. How can Nerd help?
Credit card companies charge a bomb interest rate of 24-48% (annualized) on unpaid balances. No one should be paying such high interest rates. Helping you get rid of it is part of Nerd's mission. That's why based on your outstanding debt, Nerd will put aside money to help you pay off that debt as soon as possible. Nerd tries to be realistic in the approach rather than asking you to drop everything & pay right away.
12. I wish to buy a new phone. How can Nerd help?
We agree with the love for new gadgets. Saving up for the big purchase & still maintaining financial independence - that's our opinion. But that's just us. Other option is to buy it on credit card or EMIs etc. & pay additional interest rates. Either way .. Nerd is always with you. He will help you save up for it or, get rid of the debt as soon as possible.
13. What is Wtf?
What the finance or, Wtf is a shortcut to Nerd's superpowers on whatsapp. Text "wtf" anytime & Nerd will show you different options to select from:
How's my budget?
Show me insights?
Set spending limits
How to delete a spend & so on. Choose from the options & Nerd will get it done.
14. Does Nerd send too many notifications?
No. Nerd does not spam & tries to remain non-judgemental. Nerd chooses to notify only when targets or budget might overshoot so that you're aware of the same. You can text Nerd anytime to know about your money & take decisions accordingly.
15. Does Nerd track any personal data or capture any sensitive information?
No. Nerd will never ask for or store any sensitive information. Nerd is a do-it-yourself platform that has been designed to make budgeting seamless, lightning fast and interactive fun without worrying about privacy details or sensitive information being stolen. Your data is 100% safe with Nerd & we do not sell data.
16. How do I stop all communication with Nerd?
You can text 'STOP' anytime to stop all communications. (Hope you don't)
17. What platform does Nerd support?
Nerd is on whatsapp. So you can conveniently chat on any iOS or Android device.