5 Financial Wake-Up Calls—And What You Can Learn from Them
High achievers reveal their big financial aha! moments and the lessons you can use to live your dreams in Bobbi Rebell's
How to Be a Financial Grownup.
By Bobbi Rebell
Photo: Courtesy of NerdWallet
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Tim Chen, CEO,
NerdWallet
My Wake-Up Call
When my sister asked me to help her find a new credit card, I thought it would be a fairly simple exercise; as a financial analyst, I objectively evaluated dollars and cents as a living. It took me nearly a week to research and compile a spreadsheet of about 400 cards—a fraction of what's available in the U.S.—in order to make an informed decision. I was shocked.
Most Americans will sign up for a credit card at some point in life. If it took me—literally a trained professional—a week to look at a sliver of what's available, how can any one person be expected to choose the right credit card for them? Or the right insurance policy? Or 401(k) plan? I realized the deck is completely stacked against consumers.
What You Can Learn
There is usually a "right" choice when it comes to personal finance, but signing up for a personal finance product because you got an offer in the mail isn't going to get you the best product for your needs.
Published 10/18/2016
